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    Phillips' Mulva Honored

    Chairman named 2002 Petroleum Executive of the Year by industry peers.

    BARTLESVILLE, Okla. -- James J. Mulva, chairman and chief executive of Phillips Petroleum Co., was named the 2002 Petroleum Executive of the Year his peers in the international oil and natural gas industry.

    Mulva will receive the award at a special ceremony during the 23rd annual Oil and Money Conference Nov. 5 in London. The conference is co-hosted by the Energy Intelligence Group (EIG) and the International Herald Tribune.

    Mulva was honored in recognition of his aggressive steps to grow Phillips and to position it to compete long-term in an increasingly difficult business environment, said Tom Wallin, president of EIG. Since Mulva was elevated to CEO in 1999, Phillips' asset base has grown from $15 billion to one that will exceed $75 billion when the company's merger with Conoco is finalized later this year.

    The merger, expected to close later this year, will create ConocoPhillips, the sixth-largest energy company in the world and the fifth-largest global refining and marketing company.

    The selection committee for the Petroleum Executive of the Year Award included Sir John Browne, group chief executive of BP Plc; Thierry Desmarest, chairman and CEO of TotalFinaElf; Luis E. Giusti, senior advisor at the Center for Strategic and International Studies; Vittorio Mincato, Sir Mark Moody-Stuart, former chairman and managing director of Royal Dutch/Shell; and Nader H. Sultan, deputy chairman and CEO of Kuwait Petroleum Corp.

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