press release

Unocal board declares regular quarterly dividend

El Segundo, Calif., Dec. 3, 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 Feb. 10, 2003, to stockholders of record Jan. 10, 2003.

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 and Asia.

Updated: December 2002