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Occidental Petrl. (OCP)


Tuesday 29 April, 2003

Occidental Petrl.

Result of Meeting

Occidental Amends Policy on Stockholder Rights Plans

LOS ANGELES, April 29, 2003 (PRIMEZONE) -- Occidental Petroleum
Corporation's (NYSE:OXY) Board of Directors has amended its Policy on
Stockholder Rights Plans (commonly known as "poison pills"). Although a
stockholder proposal recommending stockholder approval of poison pills
received only 38% of the vote at Occidental's 2003 Annual Meeting of
Stockholders, the Board of Directors amended its policy in recognition
of stockholder support. The amendment to the Policy on Stockholders
Rights Plans is as follows:

"In the event that the Board of Directors determines to adopt a
Stockholders Rights Plan without prior stockholder approval, then in
such event the terms of such Plan shall provide that the Plan shall
automatically terminate on the first anniversary of the adoption of such
Plan unless, prior to such anniversary, such Plan shall have been
approved by the Company's stockholders."

Occidental does not have a poison pill and has no plans to adopt one.

A complete copy of Occidental's Policy on Stockholder Rights Plans, as
amended, is available on the Company's website:

CONTACT: Occidental Petroleum Corp.
         Lawrence P. Meriage, media
         (310) 443-6562

         Kenneth J. Huffman, investors
         (212) 603-8183


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