Statement of Richard G. Parker, Director, FTC Bureau of Competition Regarding Decision By FTC; BP Amoco; ARCO; and the States of Alaska, California, Oregon and Washington to Request Adjournment of Proceedings

In light of the substantial and constructive proposals made by the defendants, all parties have agreed to seek adjournment of the federal court proceedings in FTC v. BP Amoco and Atlantic Richfield Company in order to conduct negotiations.