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MARATHON OIL ANNOUNCES NOTE EXCHANGE TERMS

 PITTSBURGH, May 6 /PRNewswire/ -- USX Corporation said today that Marathon Oil Company, a unit of USX-Marathon Group (NYSE: MRO), has sent to holders of its 9-1/2 percent guaranteed notes due March 1, 1994 (Old Notes), an offer to exchange new $100 principal amount monthly interest guaranteed notes due June 1, 2002 (New Notes) for $100 principal amount of old notes.
 The new notes will pay interest monthly at an annual interest rate of 9-3/4 percent until March 1, 1994, and thereafter at an annual rate of 7 percent until maturity.
 The new notes will not be redeemable prior to maturity, nor will they be subject to any sinking fund. The new notes will be unconditionally guaranteed by USX Corporation.
 Marathon will also pay interest on the old notes accepted for exchange in the amount of $2.375 per $100 principal amount accrued from March 1, 1993, to June 1, 1993 (the issue date of the new notes).
 Marathon is making the offer in order to extend its schedule of debt maturities.
 Additional details of the exchange offer are contained in an offering circular that is being mailed to note holders. A toll-free number (1-800-432-7023) has been established to answer questions regarding the exchange offer.
 The offer is subject to certain conditions described in the circular, including the condition that at least $50 million in aggregate principal amount of old notes be tendered for exchange.
 In addition, Marathon will accept for exchange old notes up to a maximum aggregate principal amount of $150 million, but may, at its option, accept all notes or determine which notes will be accepted for exchange on a pro rata basis.
 The offer will remain open until 5 p.m. New York City time on Tuesday, June 1, 1993. The exchange agent is PNC Bank, N. A.
 -0- 5/6/93
 /CONTACT: William E. Keslar and Don H. Herring of USX Corporation, 412-433-6870/
 (MRO)


CO: USX Corporation; Marathon Oil Company; USX-Marathon Group ST: Pennsylvania, Texas IN: OIL SU:

KC -- PG014 -- 5644 05/06/93 16:33 EDT
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Publication:PR Newswire
Date:May 6, 1993
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