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Non-Tech : Williams Companies, Inc. (WMB)

WMB 59.03

+2.0%

9:30 AM EST

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To: Jan P who wrote (186)	3/28/2000 4:02:00 PM
From: samoyed	of 271

Exxon Mobil to sell 3 pct stake in Alaska pipeline March 28, 2000 03:32 PM IRVING, Texas, March 28 (Reuters) - Exxon Mobil Corp. XOM , the No. 1 U.S. oil company, said Tuesday it has agreed to sell a 3 percent stake in the Trans Alaska Pipeline to the Williams Co. WMB to meet the requirements of U.S. anti-trust regulators. Financial terms for the sale of Exxon Mobil's 3.08 percent stake in the pipeline were not disclosed, and closing of the deal is still subject to the preferential rights of other owners, as well as the opinion of anti-trust regulators. Exxon Mobil will retain a 20 percent interest in the 800-mile pipeline, which carries crude oil produced on Alaska's North Slope to the Valdez port. Exxon Mobil has until August to complete the divestitures required by the Federal Trade Commission for approval of its merger. It has yet to sell Exxon's Guam fuel marketing operations and either Mobil's share of the Colonial Pipeline or Exxon's share of the Plantation Pipeline, plus a long-term agreement for 12,000 barrels per day of Gulf Coast base oils. Energy and communications company Williams currently runs a refinery in the North Pole, a distribution terminal at the Port of Anchorage and 28 retail convenience stores. Shares of Exxon Mobil lost 5/16 to 76-3/16, while Williams was down 3-13/16 at 41-1/4 on the New York Stock Exchange. ((Paul Thomasch, New York Newsdesk 1 212 859-1889; fax 212 859-1629; email paul.thomasch@reuters.com)) REUTERS

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