Range Closes Private Placement of Senior Subordinated Notes

Range Resources Corporation (NYSE:RRC) has closed its previously announced private placement of $100 million of senior subordinated notes (the "Notes") due 2013 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"), and other eligible purchasers pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Act. Interest on the Notes will accrue at a rate of 7-3/8% per annum and will be payable semi-annually in arrears on January 15 and July 15 of each year commencing on July 15, 2004. The Notes were priced at 98.125% of par to yield 7.67% to maturity.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the senior subordinated notes or any other security of the Company. The senior subordinated notes have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and were offered to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A and other eligible purchasers pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Act. Unless so registered, the senior subordinated notes issued may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.
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