Range Redeems 6% Convertible Subordinated Debentures

Range Resources has elected to redeem all of its outstanding 6% Convertible Subordinated Debentures due 2007 on August 1, 2004 at a redemption price equal to 102% of the principal amount of the Debentures outstanding, plus accrued interest. The principal amount of the Debentures to be redeemed equals $8.9 million. The aggregate redemption price, including the required premium, will be $9.1 million.

John H. Pinkerton, Range's President and Chief Executive Officer, stated, "By redeeming these debentures, we are further simplifying our capital structure and eliminating the potential dilution, upon conversion, of 463,000 shares of common stock."

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