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SEC Announces $113.5 Million Distribution For Shell Investors

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By Fawn Johnson, Of DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- The U.S. Securities and Exchange Commission will begin distributing about $113.5 million to some 84,000 investors Friday stemming from a 2004 settlement with Royal Dutch/Shell Group after it was accused of overstating its oil reserves.

A federal court approved the distribution plan earlier this week. The “Fair Fund” made interim distributions of about $4.2 million last year.

The SEC has set up a Web site, a toll-free number, and an e-mail account to handle questions about payments from the settlement. Investors who bought Royal Dutch or Shell common stock between April 8, 1999, and March 17, 2004 are potentially eligible for payments, according to the SEC Web site.

Royal Dutch Shell Plc (RDSA) merged with Shell Transport and Trading Co. in 2005. The firm was accused of overstating reserves by 4.47 billion barrels – or 23%.

Information about the distribution, including toll-free numbers for 11 countries, can be found at www.ShellSECSettlement.com. Investors in the U.S. may contact the distribution agent by telephone at 1-866-446-3412 or by e-mail at [email protected].

-By Fawn Johnson, Dow Jones Newswires; 202-862-9263; [email protected] -0-

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