Citgo Battles Asbestos-Related Cases in Various Courts ------------------------------------------------------ Published November 22, 2002 There are about 310 lawsuits currently pending against CITGO Petroleum in state and federal courts, primarily in Louisiana, Texas, and Illinois. Former employees and contractor employees seeking damages for asbestos related illnesses allegedly resulting from exposure at refineries owned or operated by the Company in Lake Charles, Louisiana, Corpus Christi, Texas and Lemont, Illinois brought the cases. In many of these cases, there are multiple defendants. In some cases, the Company is indemnified by or has the right to seek indemnification for losses and expense that it may incur from prior owners of the refineries or employers of the claimants. The Company does not believe that the resolution of the cases will have an adverse material effect on its financial condition or results of operations. COMPANY PROFILE CITGO Petroleum Corporation 1 Warren Place, 6100 S. Yale Ave. Tulsa, OK 74136 Phone: 918-495-4000 Fax: 918-495-4511 http://www.citgo.com Employees : 4,300 Revenue : $ 19,734,700,000 Net Income : $ 317,000,000 Assets : $ 5,809,900,000 Liabilities : $ 3,892,100,000 (As of December 31, 2001) Description: Citgo refines and markets petroleum products, including jet fuel, diesel fuel, heating oils, and lubricants. It markets CITGO gasoline through about 13,400 independent retail outlets in the US (including 2,200 7-Elevens), mainly east of the Rockies. CITGO Petroleum owns oil refineries in Louisiana and Texas, asphalt refineries in New Jersey and Georgia, and 41% of LYONDELL-CITGO Refining, from which it buys light fuels. It also owns a 142-mile crude oil pipeline and has stakes in three crude oil pipeline companies and five refined product pipeline firms. CITGO Petroleum is the operating subsidiary of PDV America, itself a subsidiary of Venezuela's PDVSA. ------------------------------------------------------------------- LitigationDataSource.com