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Royal Dutch Shell Plc .com: Shell Announces Strengthened Truenorth Assets

Royal Dutch Shell Plc .com: Shell Announces Strengthened Truenorth Assets; True North Energy to Acquire 29 Branded Locations in Columbus

From PRNewswire

    HOUSTON, June 28 /PRNewswire/ — Today, Shell Oil Products US (Shell),
the marketer of the no. 1 selling gasoline brand in America, announced that
its affiliate, True North Energy, LLC of Toledo, Ohio, was the successful
bidder for 29 Shell-branded locations and three supply contracts in the
Columbus area. Last fall, Shell had publicly stated its intent to sell
retail assets in 16 regions to better support its wholesale business and
move toward its vision of becoming the best fuels retailer in the world.
    This transaction means that Truenorth, Shell’s largest fuel wholesaler,
will now supply 335 million gallons annually to 230 Shell-branded locations
in Ohio and Michigan. Truenorth will continue to use the Shell brand at the
29 locations purchased, thereby better serving customers and maintaining
awareness of the Shell brand in the region. According to a confidentiality
agreement between the parties, the purchase price cannot be disclosed at
this time.

    The divestment is consistent with Shell’s strategy of managing its
portfolio to deliver maximum value to customers and shareholders. Stu Crum,
Shell’s General Manager Retail Strategy & Portfolio US, explained, “This
transaction allows us to have a premiere Shell wholesaler located in
central Ohio to serve customers in the state. Truenorth has always
represented the Shell brand well and their outstanding service delivery of
our customer value proposition is reflective of the Shell brand.” Geoff
Lyden, CEO of Truenorth, stated, “The purchase of the Columbus assets
complements our network and affords us a great opportunity to market Shell
products in a growing metropolitan area.”

    Local consumers can take advantage of rebates on quality Shell fuels by
calling 1-877-MY-SHELL or logging onto to apply
for the Shell Platinum MasterCard(R) from Citi Cards. The Shell MasterCard
currently offers one of the best rebate programs in the industry with a 5
percent rebate on Shell quality fuels and a 1 percent rebate on retail
purchases anywhere the card is used.

    The companies in which Royal Dutch Shell plc directly and indirectly
owns investments are separate entities. In this release, the expressions
“Shell”, “Group” and “Shell Group” are sometimes used for convenience where
references are made to Group companies in general. Likewise, the words
“we”, “us” and “our” are also used to refer to Group companies in general
or those who work for them. These expressions are also used where there is
no purpose in identifying specific companies.

    Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader
in the refining, transportation and marketing of fuels and has a network of
approximately 6,500 branded gasoline stations in the Western United States.
Shell Oil Company is an affiliate of the Shell Group (NYSE: RDS.A) & (NYSE:
RDS.B). For more information, please visit .
    True North Energy is headquartered in Toledo, OH, and has operated and
supplied Shell-branded gasoline stations throughout Ohio and Michigan since
1999. For more information, please visit .
    The Lyden Company, originally based in Youngstown, OH, has been
providing quality gasoline to customers in Ohio for 87 years. The Lyden
Company is a 50% owner of True North Energy, along with Shell Oil Products
    Disclaimer statement:
    This announcement contains forward-looking statements, that are subject
to risk factors associated with the oil, gas, power, chemicals and
renewables business. It is believed that the expectations reflected in
these statements are reasonable, but may be affected by a variety of
variables which could cause actual results, trends or reserves replacement
to differ materially, including, but not limited to: price fluctuations,
actual demand, currency fluctuations, drilling and production results,
reserve estimates, loss of market, industry competition, environmental
risks, physical risks, risks associated with the identification of suitable
potential acquisition properties and targets and the successful negotiation
and consummation of transactions, the risk of doing business in developing
countries, legislative, fiscal and regulatory developments including
potential litigation and regulatory effects arising from recategorisation
of reserves, economic and financial market conditions in various countries
and regions, political risks, project delay or advancement, approvals and
cost estimates.

    Please refer to the Annual Report on Form 20-F for the year ended
December 31, 2004 (as amended) for a description of certain important
factors, risks and uncertainties that may affect the Shell Group’s
businesses. Neither Royal Dutch Shell plc nor any member of the Shell Group
undertakes any obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or other information.

    Cautionary Note to US Investors:
    The United States Securities and Exchange Commission (‘SEC’) permits
oil and gas companies, in their filings with the SEC, to disclose only
proved reserves that a company has demonstrated by actual production or
conclusive formation tests to be economically and legally producible under
existing economic and operating conditions. We use certain terms in this
presentation, such as “expected producible resources” and “amount of
reserves we expect to produce”, that the SEC’s guidelines strictly prohibit
us from including in filings with the SEC.

SOURCE Shell Oil Products US

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