Hess Calls Outstanding 2011 Notes for Redemption

Hess will redeem all of its outstanding 6.65% Notes due August 15, 2011. The formal notice of redemption is being sent today to holders of the Notes by The Bank of New York Mellon, the trustee under the indenture governing the Notes.

The Notes will be redeemed on January 20, 2010 at a redemption price to be calculated on the third business day preceding the Redemption Date in accordance with the terms of the Notes. Interest on the Notes will cease to accrue on and after the Redemption Date. Hess intends to fund the redemption of the Notes primarily with the proceeds from its recently completed note offering.