Proposed Merger of Bond Issues

24 April 2015

Genel Energy plc

Bondholders' meeting - proposed merger of bond issues

Genel Energy ("Genel") is pleased to announce that Nordic Trustee ASA has today issued a Summons to Bondholders' Meeting for holders of GENEL01 PRO. The meeting, which will be held on 11 May 2015, will seek approval for merging the new U.S. $230 million bonds into GENEL01 PRO.

Genel's intention to merge the two issues was announced with the pricing of the U.S. $230 million private placement on 26 March 2015. The U.S. $230 million bonds were issued under the same commercial terms as GENEL01 PRO, with the merger expected to improve the overall liquidity of both bonds.

The Summons to Bondholders' Meeting will be posted at Nordic Trustee's website, http://www.stamdata.no/

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Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL). The Company, with headquarters in London and additional offices in Ankara and Erbil, is the largest independent oil producer and the largest holder of reserves and resources in the Kurdistan Region of Iraq and, through its Miran and Bina Bawi gas fields, is set to be a cornerstone provider of gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities within the Middle East and Africa. For further information, please refer to www.genelenergy.com.  

Disclaimer

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil & gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly no reliance may be placed on the figures contained in such forward looking statements.