Atlantic Richfield - Further re Tender Offer

RNS No 2158c
ATLANTIC RICHFIELD CO.
19th June 1998


ARCO Successfully Completes Tender Offer for Union Texas Petroleum Series A
                    Cumulative Preferred Stock

LOS ANGELES, June 19 /PRNewswire/ -- ARCO (NYSE: ARC) announced today the
completion of its tender offer for any and all outstanding shares of Union
Texas Petroleum Holdings, Inc.'s 7.14% Series A Cumulative Preferred Stock
(the "Preferred Stock").  ARCO has accepted for payment all shares of the
Preferred Stock validly tendered and not withdrawn as of the expiration of the
offer.  The tender offer expired today, as scheduled, at 5:00 p.m., New York
City Time.

The depositary for the offer, First Chicago Trust Company of New York,
has advised ARCO that 1,649,500 shares have been validly tendered and not
withdrawn at the expiration of the tender offer, representing approximately
94% of Union Texas' outstanding Preferred Stock.

ARCO and Union Texas expect to complete the short-form merger of Union
Texas and a subsidiary of ARCO by the end of June, pursuant to which each
remaining Union Texas common share (not owned by ARCO or Union Texas) will be
converted into $29 in cash.  Shares of the Preferred Stock not purchased by
ARCO will remain outstanding after the merger.

NOTE TO EDITORS: For a menu of ARCO's news releases or to retrieve a
specific release, visit ARCO's website at http://www.arco.com on the
Internet.
CONTACT: Media: Tom Goff, 213-486-2456, or Investors: Dennis Schiffel,
213-486-1511, both of ARCO
Web site: http://www.arco.com/
(ARC)


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