press release

Unocal names Timothy Ling as chief financial officer

El Segundo, Calif., Oct. 14, 1997 -- Unocal Corporation today announced the appointment of Timothy H. Ling, 39, as the company's chief financial officer effective October 15.

Ling succeeds Neal E. Schmale, 51, who is leaving Unocal after 29 years of service to pursue other business interests.

Ling has been an employee of McKinsey & Company since 1989 and a partner of the firm since 1994. He has broad consulting experience in corporate finance and strategy with a client base that included major utility, energy and commercial banking firms.

For the past seven years, Ling has been leader of the McKinsey consulting team working with Unocal, focusing on development of the company's new corporate strategies and the improvement of Unocal's asset and growth portfolios.

Ling holds a bachelor's degree in engineering geology from Cornell University and a Master of Business Administration from Stanford University.

Unocal is a leading global energy resource and project development company, with reserves of more than 9.8 trillion cubic feet of natural gas equivalent (1.6 billion barrels of oil equivalent) and major oil and gas production activities in Asia and the U.S. Gulf of Mexico. The company maintains headquarters in both California and Malaysia.

Updated: October 1997