press release

Unocal board declares regular quarterly dividend

El Segundo, Calif., Sept 24, 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 Nov. 9, 2001, to stockholders of record Oct. 9, 2001.

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: September 2001