press release

Unocal celebrates 80 years on the NYSE

New York City, Nov. 3, 2004 - Unocal Corporation (NYSE: UCL) today will celebrate 80 years of the company's common stock listing on the New York Stock Exchange when Charles R. Williamson, Unocal's chairman and chief executive officer, rings the closing bell to mark the end of the day's trading session.

"We are proud of our long relationship with the NYSE," Williamson said. "This record is a tribute to Unocal's continued financial strength and stability. When we were first listed on the NYSE, we were a regional oil company based in California. Today, we have grown into one of the world's leading oil and gas exploration and production companies." Only about 75 of the more than 2,800 companies currently traded on the NYSE have been listed on the exchange for as long as Unocal.

Williamson also noted that Unocal has paid a quarterly dividend to its stockholders for the past 88 years.

"Now in our second century, Unocal remains committed to creating value for our stockholders by providing critical oil and natural gas energy supplies to world markets." The company currently operates on four continents and produces more than 400,000 barrels-of-oil-equivalent per day.

Union Oil Company of California was founded in October 1890. The common stock of Union Oil Company was first listed on the NYSE on Nov. 13, 1924. In 1983, Union Oil Company was merged into Unocal Corporation, a new holding company. Union Oil Company remains the principal operating subsidiary of Unocal.

About Unocal Corporation

Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's principal oil and gas activities are in Asia and North America.

Updated: November 2004