Exxon Mobil Corporation

Exxon Mobil Corporation (NYSE:XOM) and Qatar Petroleum announced today they have
signed a Heads of Agreement (HOA) to supply Liquefied Natural Gas (LNG) from
Qatar to the United States for an expected period of 25 years. The announcement
was made by His Excellency Abdullah bin Hamad Al-Attiyah, Qatar Second Deputy
Premier and Minister of Energy and Industry, and by Harry Longwell, Director and
Executive Vice President, Exxon Mobil Corporation, at a signing ceremony this
morning in Doha.

The HOA covers the development of two large LNG trains with combined capacity of
15.6 million tons per annum (mta) of LNG, or about 2 billion cubic feet per day,
by Ras Laffan Liquefied Natural Gas Company Limited II (RasGas II). The feed gas
for these trains will be sourced from Qatar's giant North Field, which has
proven natural gas reserves in excess of 900 trillion cubic feet (tcf). More
than 26 tcf of the reserve will be dedicated to this project. Downstream of the
plants the parties will be working to acquire necessary transportation capacity
and developing regasification capacity in the United States. Total estimated
investment including ships is about $12 billion.

The project is the largest LNG import project that has been announced for
supplying natural gas to the United States, and makes Qatar Petroleum and
ExxonMobil leaders in supplying the important U.S. natural gas market. Delivery
of LNG to the United States is projected to begin in 2008/2009, and will likely
extend for more than 25 years. Several locations are currently under evaluation
for developing a receiving terminal, and we expect the permitting process will
be initiated in the fourth quarter of 2003.

The LNG trains will be built at Ras Laffan Industrial City in Qatar by RasGas
II, a joint venture between Qatar Petroleum and ExxonMobil, that has been
operating since 2001. Two existing trains currently produce more than 6 mta of
LNG and two additional trains of 4.8 mta each are under construction. Qatar
Petroleum will have a 70 percent equity interest in the project, and ExxonMobil
30 percent.

In his statement at the HOA signing ceremony, Minister Al-Attiyah said, "This
important agreement to supply LNG to the U.S. markets is a major achievement for
the State of Qatar and highlights another successful joint effort between Qatar
Petroleum and ExxonMobil. The strength of Qatar Petroleum and ExxonMobil
establishes an ideal partnership to meet the challenge of supplying the growing
energy requirements of the United States. This long-term LNG supply agreement
builds on Qatar's valued and strong relationship with the U.S."

Harry Longwell said, "The National Petroleum Council in the U.S. just published
the results of a study that indicates the United States will need to import more
gas to meet expected future demand and this project will be a valuable
contribution to those balances. This huge, world-scale project, with many
technological firsts for the U.S. market, has been under consideration for more
than one year. The project demonstrates the impressive capabilities of the Qatar
Petroleum - ExxonMobil partnership. We are immensely proud of this partnership,
and we will continue to explore other business opportunities with Qatar
Petroleum and the State of Qatar."

Qatar's Minister of Finance and RasGas Chairman, His Excellency Youssef Kamal,
further stated, "This is a giant step for RasGas and it promises the conclusion
of the largest agreement since the company's inception. It is undoubtedly a
giant boost to our efforts to become an industry pace setter."

CAUTIONARY STATEMENT: Estimates, expectations, and business plans in this
release are forward-looking statements. Actual future results, including
resource recoveries, production rates, reserves, development rates, costs and
investments, and project plans and schedules, could differ materially due to
changes in market conditions affecting the oil and gas industry, political
developments, technical or operating factors, and other factors discussed under
the heading "Factors Affecting Future Results" included in Item 1 of
ExxonMobil's most recent Form 10-K and posted on our website
(www.exxonmobil.com). References to quantities of oil and gas include amounts
that are not yet classified as proved reserves but that we believe will be
produced in the future.