Anadarko Declares Quarterly Dividends On Common and Preferred Stock.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--April 25, 2002

The Board of Directors of Anadarko Petroleum Corporation (NYSE:APC) today declared quarterly dividends on two classes of the company's stock.

A dividend of 7.5 cents per share was declared on the company's outstanding common stock, payable on June 26, 2002, to stockholders of record at the close of business on June 12, 2002.

A dividend of $13.65 per share (equivalent to $1.365 per Depositary Share), was declared on the company's 5.46% Series B Cumulative Preferred Stock, payable on June 30, 2002, to stockholders of record at the close of business on June 14, 2002.

The amount of future dividends for Anadarko common stock will depend on earnings, financial condition, capital requirements and other factors. The Board of Directors will determine dividends on a quarterly basis.

               ANADARKO PETROLEUM CORPORATION (NYSE:APC)

                                     5.46% Series B
               Common Stock      Cumulative Preferred Stock

Record Date:   June 12, 2002         June 14, 2002
Payment Date:  June 26, 2002         June 30, 2002
Amount:        7.5 cents per share   $13.65 per share
                                     (equivalent to $1.365 per
                                      Depositary Share)

Anadarko Petroleum Corporation is one of the largest independent oil and gas exploration and production companies in the world. Anadarko reported average daily production of 546,000 barrels of oil equivalent in 2001. U.S. operations are in Texas, Louisiana, the Mid-Continent and Western states, Alaska and the Gulf of Mexico. Internationally, Anadarko has significant production in Canada, Algeria, Venezuela and Qatar, and it is exploring in several other countries. More information about the company, including recent investor presentations, is available at www.anadarko.com