press release

Unocal board declares regular quarterly dividend

El Segundo, Calif., Dec. 4, 2001 - Unocal Corporation's (NYSE: UCL) board of directors today declared a regular quarterly dividend of 20 cents per share on the common stock of the company.

The dividend is payable Feb. 8, 2002, to stockholders of record Jan. 9, 2002.

Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. At year-end 2000, the company had worldwide crude oil and natural gas reserves of 1.6 billion barrels-of-oil-equivalent. Natural gas accounts for nearly two-thirds of the company's overall hydrocarbon reserves. In North America, Unocal is one of the largest independent natural gas producers, with current net production of 1 billion cubic feet per day.

Updated: December 2001