New York, New York...March 2, 2000…......Amerada Hess Corporation announced today that its Board of Directors has authorized expenditures of up to $300 million to repurchase shares of Amerada Hess Common Stock. The stock will be purchased from time to time in the open market or as otherwise permitted under applicable rules.
John Hess, Chairman and Chief Executive Officer said that "the decision to repurchase shares is based on progress to date in reshaping the Corporation's asset base, the Corporation's improved earnings outlook and strong financial position and the conviction of the Board and management that the Corporation's Common Stock is an excellent investment."
Contact: Amerada Hess Corporation - C.T. Tursi (212) 536-8593