press release

Unocal declares regular quarterly dividend

El Segundo, Calif., May 24, 1999 - Unocal Corporation's (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 August 10, 1999, to shareholders of record July 9, 1999.

Unocal is a leading global oil and gas exploration and production company with significant pipeline and power plant projects worldwide. The company has paid a quarterly dividend on its common stock for the past 83 consecutive years.

Updated: May 1999