Esso (Thailand)’s IPO Price Set at Baht 10

Bangkok, April 23, 2008 --- Esso (Thailand) Public Company Limited (“ESSO”) and the Ministry of Finance today set the price of ESSO’s initial public offering at Baht 10 per share. ESSO, the Ministry of Finance and the lead underwriters are confident that the offering price of Baht 10 is appropriate and in line with investors demand and the current market situation. The Ministry of Finance has decided to sell 72.50 million shares. In response to the demand at both institutional and retail investors level, the planned over-allotment of 84.58 million shares will increase the total size of the offering to 930.42 million shares. An addition of approximately 25.38 million shares will be re-allocated to the public retail tranche, increasing it from the initial 161.90 million shares to 187.28 million shares.

Mr. Daniel E. Lyons, Chairman and Managing Director, said: “The Ministry of Finance, ESSO and the lead underwriters have priced the shares offering at Baht 10 per share. The price has been book-built from the feedback the company received during their successful domestic and international roadshows with institutional investors in Asia, Europe and the US.”

The Ministry of Finance has decided to sell 72.50 million shares. Together with a planned over-allotment of 84.58 million shares, the total size of the offering will be 930.42 million shares of which 473.67 millions shares will be allocated to local investors and 456.75 million shares to foreign institutional investors.

The public retail subscription through Bangkok Bank and Krung Thai Bank, has been increased from the initial 161.90 million shares to 187.28 million shares in response to the level of retail investors’ interest. The allocation of shares to retail investors will be processed randomly through the SETTRADE.com system. The final list of retail subscribers will be announced at www.settrade.com, www.bangkokbank.com, www.ktb.co.th, and at nationwide branches of Bangkok Bank (excluding micro branches) and Krung Thai Bank, Bualuang Phone at 02-645-5555 or 1333 and KTB Call Center at 1551.

ESSO recently announced an initial public offering comprising 773.33 million new shares by the Company and up to 326.25 million existing shares held by the Ministry of Finance, one of the company’s major shareholders, along with an over-allotment option of up to 84.58 million new shares. It is expected that ESSO’s shares will start trading on May 6, 2008. The stock will be listed in the Energy section under the symbol ‘ESSO.'

About Esso (Thailand)
Esso (Thailand) Public Company Limited is one of the leading integrated petroleum and petrochemical business operators with a complex refining capacity of 177,000 barrels per day, an aromatics plant with a capacity of 500,000 tons per annum of paraxylene, a solvent production unit with a capacity of 50,000 tons per annum and network of more than 580 Esso branded service stations throughout Thailand.
As an affiliate of Exxon Mobil Corporation, an industry leader in the global energy and petrochemical business, Esso (Thailand) Public Company Limited is committed to meeting Thai consumers demand for energy and driving the country’s economy through the capability of its talented team and advanced technologies.

For further information:
Kitiyavadee Nilavan kitiyavadee.nilavan@exxonmobil.com
ExxonMobil Ltd.
Tel. 02-262-4382
Ruanrudee Taweepol (ruanrudee.taweepol@ogilvy.com)
Ogilvy Public Relations Worldwide Ltd.
Tel. 02-205-6620