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Mobil Fourth Quarter Dividend Press Release

28 October 1999

Mobil Fourth Quarter Dividend Press Release

    FAIRFAX, Va.--Oct. 27, 1999--Mobil Corporation's Board of Directors today declared a quarterly dividend on the company's common stock of $0.57 a share. The dividend is payable on December 10, 1999, to shareholders of record of Mobil Common Stock at the close of business on November 12, 1999.
    However, if the merger of Exxon and Mobil becomes effective prior to the close of business on November 12, 1999, shareholders of Mobil at the effective time of the merger will become entitled instead to the dividend declared by Exxon. The Exxon dividend, which was announced by Exxon's Board of Directors today, is payable on December 10, 1999, to shareholders of record on the close of business on November 12, 1999. Consistent with their merger agreement, the two companies have coordinated their dividend record dates and payment dates to ensure that shareholders neither fail to receive a dividend nor receive two dividends as a result of the proposed merger.
    As a result of the merger, Mobil shareholders will receive 1.32015 shares of Exxon Mobil Common Stock for each share of Mobil Common Stock.

    For more news and information about Mobil, please see us on the World Wide Web at www.mobil.com/newsroom.