Green Plus in ``Formula'' Fuels Boosts Lukoil Sales in Cyprus; Combination of Better Fuel Economy and Lower Emissions Wins Customers

LEFKOSIA, Cyprus--May 1, 20049, 2004--Biofriendly Corporation and Lukoil Oil Company announced today that sales of Lukoil's new Formula Fuels have increased over 20% since their launch in late February. The fuel, which includes gasoline as well as diesel, has been treated with Biofriendly's Green Plus liquid fuel combustion catalyst. The catalyst improves combustion, which produces better performance, better fuel economy and lower emissions.

Mr. Boris Parsoutin, Managing Director of Lukoil Oil Company Cyprus, said, "Our success with Formula Fuel is due to a real difference in performance that our customers can see and feel. We are gaining new customers every day, and believe me, if it didn't improve performance, they wouldn't keep coming back and asking for Formula."

In addition to better fuel economy and improved engine performance, Green Plus lowers harmful emissions. Independent tests in certified laboratories have shown reductions in emissions such as carbon dioxide, carbon monoxide, nitrogen oxides and total hydrocarbons from 10% to 40%. Opacity (smoke) from diesel engines has especially been reduced.

"We appreciate the public response to Green Plus in Lukoil's fuel," said Robert Carroll, Chairman and CEO of Biofriendly Corporation. "Marketing a new fuel can certainly gain attention, but in the final analysis drivers have to experience a real difference or they'll just buy any fuel. We're pleased to see that customers can truly feel a difference and have noticed savings through increased fuel economy. In addition, everyone wants to improve the environment, and I think customers like this about the Formula fuels; deep down it makes them feel good."

Under development for over 10 years, Green Plus is a new product that employs nanotechnology (working at the molecular level) to achieve a breakthrough combination of improved fuel economy and reduced emissions. Green Plus is a liquid combustion catalyst that is added in very small quantities to fuel in order to create a more complete, cooler and more linear burn. The product has undergone rigorous testing in the United States and Europe, and has over 50 million miles of on-road/on-ocean use. Green Plus is now available commercially worldwide.

About Biofriendly Corporation

Biofriendly Corporation has introduced Green Plus, a liquid fuel combustion catalyst, the world's most effective solution for significantly improving fuel economy and reducing harmful emissions. Green Plus is designed for use in diesel, gasoline and other hydrocarbon-based fuels. This patent-pending product was invented by the same innovators who created Vortoil, the award-winning oil-water separator for offshore oil production. For more information, please visit www.biofriendly.com.

About Lukoil Oil Company

Lukoil Oil Company is the leading vertically integrated oil Company in Russia. The Company's main activities are oil and gas exploration and production, as well as the production and sale of petroleum products. Lukoil is the second largest private oil company worldwide by proven reserves. The company has approximately 1.3% of global oil reserves and 2% of global oil production. Lukoil's sales network covers Russia, the CIS, the Baltic countries, Europe and the USA, consisting of 263 tank farms and 4,076 filling stations. For more information, please visit www.lukoil.com.