BALTIMORE, Jan. 14 /PRNewswire-FirstCall/ -- The Board of Directors of Petroleum & Resources Corporation (NYSE:PEO) declared a dividend of $0.10 per share, payable March 1, 2010, to stockholders of record February 12, 2010, consisting of $0.01 investment income, $0.05 short-term capital gain, and $0.02 long-term capital gain, all realized in 2009, and $0.02 investment income realized in 2010. Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol PEO. For further information please contact: Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary 410-752-5900 or 800-638-2479 E-mail: Website: http://www.peteres.com/ For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please contact us. DATASOURCE: Petroleum & Resources Corporation CONTACT: Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary, +1-410-752-5900 or +1-800-638-2479, Web Site: http://www.peteres.com/

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