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Exxon & Mobil Confirm 2nd Phase Merger Inquiry

9 June 1999

European Commission decides to open a second phase inquiry regarding the
proposed merger

	IRVING, Texas and FAIRFAX, Va.-- Exxon Corporation and Mobil Corporation confirmed 
that they were formally advised on June 9 that, as previously indicated, the European Commission 
has decided to open a second phase inquiry regarding the proposed Exxon Mobil merger.

	Second phase inquiries are not unusual in EC reviews of such complex merger agreements, 
according to Exxon and Mobil. The companies said such an inquiry had been anticipated. Exxon and Mobil 
filed the formal pre-merger notification with the European Commission on May 3. The companies 
said that it is unrealistic to expect the Commission to assess this merger and digest the large amount 
of information provided by Exxon and Mobil in a 30-day period.

	Under the EC's regulatory framework, the companies continue to believe that the second 
phase inquiry should be completed around the end of the third quarter. The companies also
believe that the regulatory review in the U.S. can be completed in the same time period.