Petroplus Holdings AG Industriestrasse 24
CH-6304 Zug
Switzerland

NEWS RELEASE PETROPLUS REFUTES ALL ALLEGATIONS OF FRAUDULENT BANKRUPTCY IN FRANCE

Zug, Switzerland, January 26, 2012 - Petroplus Holdings AG (SIX: PPHN) today refuted all allegations of fraudulent bankruptcy in France. At the opening of business on January 23, 2012, the total balances on bank accounts held by Petroplus' French subsidiary, Petroplus Marketing France SAS, at Deutsche Bank were €124 million and $59 million. During that dayDeutsche Bank, one of the lenders under the Revolving Credit Facility ("RCF"), transferred €122million and $59 million of this cash that was held on accounts pledged under the RCF out of these accounts. No Petroplus legal entity provided any instructions or took any actions to transfer these funds from these French accounts. A formal investigation has been opened by the public prosecutor in France.
Contact information: Petroplus Holdings AG
Fredrik Olsson; +41 (0) 58 580 1244

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Petroplus Refutes All Allegations of Fraudulent Bankruptcy in France