press release

Unocal board declares regular quarterly dividend

El Segundo, Calif., July 26, 2002 - 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 Nov. 8, 2002, to stockholders of record Oct. 10, 2002.

Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's oil and gas activities are in North America, Asia, Latin America, and the North Sea. Unocal is one of the world's largest producers of geothermal energy with operations in the Philippines and Indonesia.

Updated: July 2002