Kerr-McGee Declares 226th Consecutive Quarterly Dividend

The Kerr-McGee Corp. (NYSE: KMG) board of directors declared a quarterly dividend of 45 cents per share of common stock for the quarter ending June 30, 2004. This dividend will be Kerr-McGee's 226th consecutive quarterly dividend paid to holders of the company's common stock.

The dividend will be payable July 1, 2004, to shareholders of record as of June 4, 2004.

Kerr-McGee shareholders re-elected four directors to the board during their annual meeting in Oklahoma City today: William E. Bradford, retired chairman of the board of Halliburton; Luke R. Corbett, Kerr-McGee chairman and chief executive officer; David C. Genever-Watling, president of GW Enterprises LLC; and Farah M. Walters, retired president and chief executive officer of University Hospitals Health System. Shareholders also ratified the appointment of Ernst & Young LLP as the company's independent auditors and rejected a shareholder proposal requesting the establishment of an Office of the Board of Directors.

In addition, the shareholders' meeting featured an overview of operating and financial activities by Corbett; Bob Wohleber, senior vice president and chief financial officer; Dave Hager, senior vice president responsible for oil and gas exploration and production; and Pete Woodward, senior vice president responsible for chemicals.