Apache Declares Cash Dividend

The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) has declared regular cash dividends on the company's common shares and Series B Cumulative Preferred Stock.

The common stock dividend is payable on February 22, 2005, to stockholders of record on January 21, 2005 at a rate of 8 cents per share.

The dividend on the Series B preferred stock is payable on Jan. 30, 2005, to holders of record on Jan. 15, 2005. The payment will be $14.20 per share, which is equivalent to $1.42 per depositary share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not listed on an exchange.

Apache Corporation is a large oil and gas independent with core operations in the United States, Canada, Australia, Egypt, and the United Kingdom sector of the North Sea.