FTC Requests More Info from Phillips and Conoco

Phillips Petroleum Company and Conoco have both received requests from the Federal Trade Commission (FTC) for additional information and documentary material regarding their proposed merger. Both companies are continuing to work closely with the FTC staff.

As previously announced, the merger is expected to close in the second half of 2002, pending expiration of the Hart-Scott-Rodino waiting period, a favorable vote by both Phillips and Conoco shareholders, and other customary closing conditions.