Range Announces Pricing of Increased Common Stock Offering

Range Resources Corporation (NYSE: RRC) has priced a public offering of 10,600,000 shares of its common stock at a price to the public of $12.25 per share, which was the last sales price reported on the NYSE yesterday. All shares are being sold by Range. Proceeds from the offering are expected to be used to partially fund the recently announced acquisition of the 50% of Great Lakes Energy Partners, LLC that Range does not currently own. If the Great Lakes acquisition is not completed, the net proceeds will be used for general corporate purposes. Range also has granted the underwriters a 30-day option to purchase up to 1,590,000 additional shares of its common stock solely to cover over-allotments, if any. Range expects the issuance, delivery of shares and settlement to occur on June 16, 2004.

The offering was led by J.P. Morgan Securities Inc. and Friedman, Billings, Ramsey & Co., Inc. as joint book-runners. Co-managers in the underwriting group were Jefferies & Company, Inc., Johnson Rice & Company LLC, KeyBanc Capital Markets and Raymond James. A prospectus supplement related to the public offering is being filed today with the Securities and Exchange Commission and copies of the prospectus supplement relating to the offering may be obtained from the offices of J.P. Morgan Securities Inc., Chase Distribution & Support Service, 1 Chase Manhattan Plaza, Floor 5B, New York, NY 10081

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.

Range Resources Corporation (NYSE:RRC) is an independent oil and gas company operating in the Permian, Midcontinent, Gulf Coast and Appalachian regions of the United States.
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