THE WALL STREET JOURNAL: Shell Signs Sale, Purchase Trademark License Deals: “Shell Group of Companies and the Sol Group, a petroleum affiliate of the Interamericana Trading Corp (ITC), Friday announced that they will sign a Sale and Purchase Agreement and a Trademark License Agreement relating to the divestment of Shell 's Oil Products businesses in Barbados, St. Lucia, Netherlands Antilles, St. Kitts & Nevis, British Virgin Islands, Anguilla, Grenada, St. Vincent, Antigua, Dominica, Belize, Guyana and Suriname, excluding the Aviation business.” (ShellNews.net) 6 Nov 04

DOW JONES NEWSWIRES

Edited Press Release

LONDON -- Shell Group of Companies and the Sol Group, a petroleum affiliate of the Interamericana Trading Corp (ITC), Friday announced that they will sign a Sale and Purchase Agreement and a Trademark License Agreement relating to the divestment of Shell 's Oil Products businesses in Barbados, St. Lucia, Netherlands Antilles, St. Kitts & Nevis, British Virgin Islands, Anguilla, Grenada, St. Vincent, Antigua, Dominica, Belize, Guyana and Suriname, excluding the Aviation business.

The company said that the agreements relate to Shell's retail, commercial, local marine and liquified petroleum gas (LPG) businesses and includes a network of 111 retail service stations and 30 distribution depots geographically spread across the region. The sale is subject to regulatory approval and completion is expected early in 2005.

Sol will continue to use the Shell brand under a Trademark License Agreement and act as the sole distributor of Shell 's fuels and lubricants in this region, thereby better serving dealers and customers, and maintaining awareness of the Shell brand in the region. Furthermore, Sol will act as an agent and partner on behalf of Shell Aviation facilitating further development of aviation business opportunities in the region.

Sol and Shell Aviation will receive a secure supply of high quality Shell products via Shell Western Supply and Trading Limited ("Shell West"). Shell West, the Caribbean energy trader, will continue its operations from Barbados.

Shell Antilles & Guianas Limited Chairman, Nicholas Shorthose said: "A long term alliance will be established with Sol that brings together Shell 's products and standards with Sol's regional focus and local decision making."

Shorthose added: "The transaction is consistent with our strategy of proactive portfolio management, which aims at creating maximum value to customers and shareholders, by focusing our activities where we believe we can deliver better value to both while improving the returns in the underlying business."

Kyffin Simpson, Chairman of the Sol Group said: "We intend to grow the business through close local partnerships that can respond rapidly to customer needs."