Pioneer Declares Dividend on Common Shares

Pioneer Natural Resources Company (NYSE:PXD) announced that its board of directors declared a semiannual cash dividend of $0.10 per share on Pioneer's outstanding common stock. As per Pioneer's usual schedule, the dividend is payable Oct. 15, 2004 to stockholders of record at the close of business on Sept. 29, 2004.

Pioneer plans to hold the special meeting of shareholders related to the proposed merger with Evergreen Resources, Inc. ("Evergreen") on Sept. 28, 2004, but that date is dependent on the Company's Form S-4 registration statement being declared effective in time to initiate the mailing of proxy materials by August 30. If the meeting must be postponed, the Evergreen shareholders will not have become Pioneer shareholders by the dividend record date and will not be paid the dividend.