RD Royal Dutch Petroleum Company

Shell Signs Sale Agreement With Buckeye for Midwest Refined Products Pipeline and Terminal Assets Announcement Follows Agreement to Sell West Texas and Great Plains Assets HOUSTON, July 1 /PRNewswire/ -- Shell Oil Products US announced today it has signed a Purchase and Sale Agreement with Buckeye Partners, L.P. for the sale of pipeline and storage assets located in Illinois, Indiana, Ohio, Michigan and Missouri. (Logo: http://www.newscom.com/cgi-bin/prnh/19990716/SHELL ) Major assets included in the sale consist of the East Line Pipeline, North Line Pipeline, St. Louis ATF Pipeline, St. Louis 6-inch Pipeline and the 2Rivers Pipeline. These pipeline assets, along with 25 distribution terminal assets, carry refined products from primarily U.S. mid-continent refineries to points throughout the Midwest region. Major markets include Chicago, St. Louis, Detroit, Indianapolis and Cincinnati. The transaction is expected to close in approximately 90 days after completion of due diligence and appropriate regulatory review. "This sale, along with the announced sale of assets to Magellan last week, represents one of several strategic decisions we have made to streamline our businesses. The goal of our efforts is to further enhance our competitiveness, maximize the operational efficiency of the organization, and build upon our improving financial performance," said Lynn Elsenhans, CEO of Shell Oil Products US. Shell remains committed to marketing the Shell brand in Midwest region through the company's retail and wholesale networks. Contractual obligations to our customers will continue to be honored. Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the refining, transportation and marketing of fuels, lubricants, coolants, services and solutions to consumer and business-to-business customers in automotive, commercial and industrial sectors. Shell Oil Company is an affiliate of the Royal Dutch/Shell Group of Companies (NYSE:RDNYSE:SC). For more information, please visit http://www.shell.com/ . http://www.newscom.com/cgi-bin/prnh/19990716/SHELL DATASOURCE: Shell Oil Products US CONTACT: Karyn Leonardi-Cattolica of Shell Oil Products US, +1-713-241-1578 Web site: http://www.shell.com/

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