press release

Unocal corrects wire service story

El Segundo, Calif., Dec. 3, 1999 -- Unocal said today that a wire service story earlier this week mistakenly characterized the extent of the company's natural gas resources in the Gulf of Thailand.

The story indicated the company had "reserves in the Gulf of about 10 trillion cubic feet." The 10 trillion cubic feet referred to is the gross resource base of Unocal's Gulf of Thailand interests, not just reserves as defined by the U.S. Securities and Exchange Commission.

Gross resource base includes proved reserves and unproved resource potential among all partners' shares.

The company does not disclose reserves on a country-by-country basis. Unocal's net natural gas reserves in the Far East, which includes Thailand, at the end of 1998 were 3.995 trillion cubic feet.

Updated: December 1999