Atlantic Richfield - Re Extension of Tender Offer

RNS No 9177e
ATLANTIC RICHFIELD CO.
15th June 1998

ARCO Extends Tender offer for Union Texas Petroleum Stock to 5pm EDT, June 15

ARCO announced today that its tender offer for all outstanding shares of Union
Texas Petroleum Holdings, Inc.'s common stock has been extended until 5.00pm,
Eastern Daylight Time, today (June 15, 1998) unless further extended in
accordance with the terms of the tender offer. 

The tender offer was previously scheduled to expire at 5.00pm, Eastern Standard
Time, on Friday, June 12, 1998.

The tender offer is conditioned, among other things, upon any waiting or other
period under the European Commission merger regulations applicable to the tender
offer or to the exercise by ARCO of full ownership and voting rights with
respect to the shares to be acquired having expired or been terminated. 

The waiting period under the EC merger regulations will expire at 12.00
midnight, Brussels time, on Thursday, June 18, 1998, unless extended or
shortened in accordance with the EC merger regulations. The European Commission
may notify ARCO prior to that time that the tender offer and merger are
consistent with the EC merger regulations and can be consummated. 

The depositary for the offer, First Chicago Trust Company of New York, has
advised ARC0 that approximately 84.78 million shares have been tendered and not
withdrawn as of the close of business on Friday, June 12, 1998. As of March 31,
1998, Union Texas had approximately 85.25 million shares outstanding. 

END

MSCBXGBLISBCCIU