RD Royal Dutch Petroleum Company

Shell Issues Bakersfield Refinery Sales Process Update #3; Negotiations With Leading Bidder Results in No Sale Agreement HOUSTON, Dec. 15 /PRNewswire/ -- Shell Oil Products US today issued an update on the sales process for its Bakersfield Refinery that thus far has not resulted in a sale agreement for the refinery. "As stated in our last update, Shell has been having discussions with a short list of bidders interested in the Bakersfield Refinery," said Lynn Laverty Elsenhans, President and Chief Executive Officer of Shell Oil Products US. "More recently we have been working intensively with the leading bidder, but we could not reach an agreement that offered terms and conditions acceptable to both parties. While we do not rule out the possibility that another bidder could offer an acceptable package, we are focusing on our commitment to continue operating the refinery through March 2005. If no agreement is finalized, we will proceed with plans to close the refinery by the end of this period." Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the refining, transportation and marketing of fuels, and has a network of nearly 7,000 branded gasoline stations in the Western United States. Shell Oil Company is an affiliate of the Royal Dutch/Shell Group of Companies (NYSE:RDNYSE:SC). For more information, please visit http://www.shell.com/ . DATASOURCE: Shell Oil Products US CONTACT: Stan Mays of Shell Oil Products US, +1-713-241-1582 Web site: http://www.shell.com/

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