Devon Energy Declares Cash Dividend

Devon Energy Corporation (Amex: DVN) announced that its board of directors declared a quarterly cash dividend on Devon's common stock for the second quarter of 2004. An identical dividend was declared on the exchangeable shares of a wholly-owned Devon subsidiary. The subsidiary's shares trade on the Toronto Stock Exchange under the symbol NSX and are exchangeable for Devon common shares on a one-for-one basis, at the holder's option. The dividends are payable on June 30, 2004, at the rate of U.S. ten cents per share based on a record date of June 15, 2004.

Devon also announced that its board of directors declared a quarterly cash dividend on its 6.49% cumulative preferred stock, series A. The dividend rate is $1.6225 per share and is payable on June 30, 2004. The record date for the dividend is June 15, 2004.