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Amerada Hess Corporation (NYSE: AHC) announced today that a charitable trust created by the late Leon Hess entered into a sales plan for a portion of the Amerada Hess common stock it owns. The sales are being made to meet diversification requirements and the trust's charitable funding obligations. In a related diversification, John B. Hess, Chairman and Chief Executive Officer, has entered into a similar sales plan for a small portion of the Amerada Hess common stock he owns. Under the plan, the charitable trust will sell up to 850,000 shares, which is about 17% of the trust's holdings of Amerada Hess common stock and less than 1% of the outstanding Amerada Hess common stock. John B. Hess will sell up to 250,000 shares. Upon completion of these sales, the Hess family and related interests will own more than 13% of Amerada Hess common stock. The sales will be made over a period of time under the SEC's Rule 10b5-1.
Amerada Hess, headquartered in New York, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593