Announced Action for July 7, 2000

The Federal Trade Commission today announced the following action:

Application for approval of transaction:

The FTC has received an application for the approval of a proposed divestiture from the following: Exxon Mobil Corporation. The application concerns Exxon Mobil's request to divest Exxon's Guam assets -- as required by Paragraphs III.A-III.C of the FTC's November 30, 1999 consent agreement -- to South Pacific Petroleum Corporation. The assets are currently held by Exxon Mobil's subsidiary Exxon Mobil International Holdings, Guam Branch.

The Commission is seeking public comment on the application for 30 days, until August 7, 2000. Comments should be sent to the Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. (FTC File No. 991-0077; Docket No. C-3907; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated November 30, 1999.)

Copies of the documents mentioned in this release are available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; toll free: 877-FTC-HELP (877-382-4357); TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.

Media Contact:

Office of Public Affairs

202-326-2180