Apache Declares Cash Dividends on Common and Preferred Shares

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 dividend on the common shares is payable on Aug. 22, 2005, to stockholders of record on July 22, 2005, at the rate of 8 cents per share.

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