Atlantic Richfield - Statement Re Subsidiary

RNS No 9732q
ATLANTIC RICHFIELD CO
29th July 1998

UTP COMMENCES CONSENT SOLICITATION FROM
HOLDERS OF 8.25% SENIOR NOTES DUE 1999

Union Texas Petroleum Holdings, Inc., a wholly-owned subsidiary of Los
Angeles-based ARCO (NYSE: ARC), announced today that it was commencing a consent
solicitation from the holders of its $100 million of 8.25% Senior Notes due
1999.

Houston-based UTP became an ARCO subsidiary on June 29, 1998, at which time its
common stock and 8.25% Senior Notes were de-listed and de-registered.  The
company has ceased to be the subject of the informational requirements of the
Securities Exchange Act of 1934 and is no longer preparing annual or other
financial reports for filing with the Securities and Exchange Commission.

The principal purpose of the solicitation is to amend the indenture under which
the notes were issued to provide that ARCO will deliver to holders of the
notes, in place of reports by UTP, copies of ARCO's annual and other financial
reports filed with the SEC.

Prior to the mailing of the consent solicitation, ARCO unconditionally and
irrevocably guaranteed the payment by UTP of all of the $550 million of UTP's
outstanding indebtedness.


Contact:
Albert Greenstein 
Tel: [phone]
Web site: http://www.arco.com/


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