Shell Buys Back Shares

The "Shell" Transport and Trading Company, p.l.c. announces that on February 24,, 2005 it purchased for cancellation 2,000,000 ordinary shares at a price of 486.68 pence per share.

Following the cancellation of these shares, the remaining number of ordinary shares of The "Shell" Transport and Trading Company, p.l.c. will be 9,618,100,000.

Royal Dutch Petroleum Company (N.V. Koninklijke Nederlandsche Petroleum Maatschappij) announces that on February 24, 2005 it purchased 460,000 ordinary shares at an average price of 46.88 euros per share. Such purchases were effected outside the United States.

Following the cancellation (still subject to shareholder approval) of these and other ordinary shares purchased under the buyback program, the remaining number of ordinary shares outstanding of Royal Dutch Petroleum Company will be 2,072,900,000.

The funds used to purchase these shares were distributable cash reserves held by Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c. respectively. The buybacks do not affect Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, p.l.c.'s "60:40" ownership of the Royal Dutch / Shell Group of Companies (the "Group").

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