KENOL COMMERCIAL PAPER PROGRAMME

Important Notice

Kenya Oil Company Limited ("Kenol" or "the Company") wishes to raise funds from time to time by the issue and sale of its Commercial Paper ("Notes" or "CP").  The Notes will have tenors of one year or less from the date of issuance, as elected by Kenya Oil Company Limited.  The Notes will be offered for sale through Kestrel Capital (East Africa) Limited ("Placing Agents") as may be appointed by Kenol to selected financial institutions and corporate investors as may be approved by Kenol.