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Royal Dutch Pet. (RDN.)


Tuesday 11 April, 2000

Royal Dutch Pet.

Global Procurement Exchange

Royal Dutch Petroleum Co N.V.
Shell Transport and Trading Company, p.l.c.               
11 April 2000

                        Royal Dutch Petroleum Company                         
              The 'Shell' Transport and Trading Company, p.l.c.               


Issued on behalf of the founding partners: Royal Dutch/Shell, BP Amoco,
Conoco, Dow Chemical, Equilon Enterprises, Mitsubishi Corporation, Motiva
Enterprises, Occidental Petroleum, Phillips Petroleum, Repsol YPF, Statoil,
Tosco, TotalFinaElf and Unocal.

A group of 14 leading energy and petrochemical companies from across the
world-wide industry today announced they will launch an independent industry
procurement exchange.  Discussions are already underway with further important
partners and participants, including members from the supplier community.

The exchange will provide a global electronic marketplace open to buyers and
sellers both large and small. In addition, the exchange will develop
technologies to remove inefficiencies in procurement, supply chain management
and capacity utilisation. The founding partners will work together to make the
exchange attractive for all companies across the industry to use.

The scope of the exchange will initially include all procurement activities
related to goods and services used within the oil and gas exploration and
production business and the petrochemicals, refining, marketing and retail
sectors of the industry.

Sir John Browne, BP Amoco's Group Chief Executive, said: 'The leading players
within the industry have come together to improve performance, productivity
and capital efficiency. Exchanges are a very exciting example of the
application of internet technologies to drive efficiency and innovation across
the supply chain.'

Harry Roels, a Royal Dutch/Shell Group Managing Director, said: 'Shell
attaches great importance to eBusiness and so is delighted to play a leading
role in the formation of this global exchange.  By working together with
industry partners and suppliers, we can deliver greater savings in a shorter

The collective annual procurement spend of the founding partners exceeds $125
billion: 40% of this spend is in North and South America, 40% in Europe and
Africa and 20% in Asia Pacific and the Middle East.  The partners plan to use
the exchange for a significant amount of their procurement.

An independent company will be created to own and operate the exchange. 
Initially at least three-quarters of the equity in the new company will be
owned by the energy and petrochemical companies.  The remainder will be
allocated to staff and technology providers.

It is intended to prepare the company for initial public offering (IPO) in the
The exchange will be launched using the CommerceOne Marketsite platform. 
Other technology providers will be selected by the exchange to ensure
sufficient flexibility to meet the needs of the industry.

Morgan Stanley Dean Witter has advised in the formation of the exchange.
Further enquiries:
BP Amoco PLC:                     Angela Edwards.  Tel: +44 207 496 4038
Royal Dutch/Shell Group of Co.:       Mike Hogan.  Tel: +44 207 934 6238
Conoco Incorporated:                     Sondra A. Fowler. Tel: +1 281 293
The Dow Chemical Co.:              Peter Paul van De Wijs.  Tel: +1 517 638
Equilon Enterprises LLC:              Joby Humphrey.  Tel: +1 713 277 7600
Mitsubishi Corporation:              Jun Nishizawa.  Tel: +81 3 3210 2172
Motiva Enterprises LLC:              Joby Humphrey.  Tel: +1 713 277 7600
Occidental Petroleum Corporation:       Howard Collins.  Tel: +1 310 443 6523
Phillips Petroleum Company:              Fred Ramos.  Tel: +1 918 661 4269
Repsol-YPF, S.A.:                     Jose Maria Garcia-Perrote.  Tel: +34 91
                                                                       348 8751
Statoil:                                   Hans-Aasmund Frisak.  Tel: +47 51
                                                                      99 58 57
Tosco Corporation:                     Colm T. McDermott.  Tel: +1 203 977
TotalFinaElf:                            Hans Daems.  Tel: +33 1 4744 4748
Unocal Corporation:                     Barry Lane.  Tel: +1 310 726 7731


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