Anadarko's Tender Offer Expires

Anadarko Petroleum Corp. (NYSE:APC) announced the expiration, as of 5:00 p.m. EDT yesterday, of the Maximum Tender Offer for up to $450,285,000 aggregate principal amount of securities pursuant to its previously announced cash tender offer, for which $454,675,000 aggregate principal amount of securities were validly tendered and not withdrawn prior to the expiration date as specified under the terms of the Maximum Tender Offer.

As previously announced, $749,715,000 aggregate principal amount of securities in the Any and All Offer, which expired on Monday, Sept. 20, 2004, were validly tendered and accepted for purchase on Sept. 20, 2004.

Anadarko elected not to cap the securities tendered in the Maximum Tender Offer, and accepted for purchase all securities validly tendered pursuant to both tender offers for a combined total of $1,204,390,000 aggregate principal amount of securities as listed below.

                                                   Percentage
                         Principal     Principal   of out-
                         Amount        Amount      standing Acceptance
             Title of    Outstanding   tendered    amount    Priority
Issuer       Security    (US$)         (US$)       tendered   Level
----------------------------------------------------------------------
Offer for Notes Listed Below: Any and All Offer

Anadarko     7.375%      $88,115,000   $46,228,000   52.5%      N/A
Canada       Debentures
Corporation  due May
             15, 2006

Anadarko     7.000%      $174,010,000  $123,369,000  70.9%      N/A
Holding      Notes due
Company      October
             15, 2006

Anadarko     5.375%      $650,000,000  $507,403,000  78.1%      N/A
             Notes due
             March 1,
             2007

Anadarko     6.750%      $116,285,000  $69,715,000   60.0%      N/A
Holding      Notes due
Company      May 15,
             2008

Anadarko     7.800%      $11,000,000   $3,000,000    27.3%      N/A
Canada       Debentures
Corporation  due July 2,
             2008
----------------------------------------------------------------------
Aggregate              $1,039,410,000  $749,715,000  72.1%
Any and All
Offer Securities
                                        
                                                   Percentage
                         Principal     Principal   of out-
                         Amount        Amount      standing Acceptance
             Title of    Outstanding   tendered    amount    Priority
Issuer       Security    (US$)         (US$)       tendered   Level   
----------------------------------------------------------------------
Offer for Notes Listed Below: Maximum Tender Offer

Anadarko     7.300%      $84,770,000   $32,377,000   38.2%      1
Holding      Notes due
Company      April 15,
             2009

Anadarko     6.125%      $400,000,000  $230,252,000  57.6%      2
             Notes due
             March 15,
             2012

Anadarko     5.000%      $274,095,000  $192,046,000  70.1%      3
             Notes due
             October 1,
             2012
----------------------------------------------------------------------
Aggregate                $758,865,000  $454,675,000  59.9%
Maximum Tender
Offer Securities



ABN AMRO Incorporated and J. P. Morgan Securities Inc. served as joint dealer managers, and Global Bondholder Services Corporation served as the depositary agent and information agent for the tender offer.

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2003, Anadarko had 2.5 billion barrels of oil equivalent of reserves, making it one of the world's largest independent exploration and production companies. Anadarko's operational focus extends from the deepwater Gulf of Mexico, up through Texas, Louisiana, the Mid-Continent, western U.S. and Canadian Rockies and onto the North Slope of Alaska. Anadarko also has significant production in Algeria, Venezuela and Qatar.
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