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TOSCO ANNOUNCES RETIREMENT OF JOHN J. LEE

 STAMFORD, Conn., March 4 /PRNewswire/ -- Tosco Corporation (NYSE: TOS) announced today that Mr. John J. Lee is retiring from the company and has resigned from his positions as president and chief operating officer and as a director of the corporation. Mr. Lee also functioned as chairman and chief executive officer of Tosco's wholly owned subsidiary, Seminole Fertilizer Corporation, and with the recently announced agreement to sell substantially all of Seminole's operating assets to Cargill Fertilizer, Inc., has resigned from his positions with that company.
 Mr. Lee stated, "with the pending consummation of the Bayway Refinery acquisition from Exxon and the anticipated sale of Seminole, Tosco is well positioned to implement its near-term strategic objectives. This presents the appropriate opportunity for me to make my return to private business."
 Mr. Thomas D. O'Malley, Tosco's chairman and chief executive officer, said, "we'd like to thank John for his service to the corporation and wish him the best of success in his new venture capital activities. We will miss the broad technical expertise and business experience he brought to the Company."
 Mr. O'Malley will be assuming the position of president.
 Tosco Corporation is the largest independent refiner of petroleum products on the West Coast of the United States and would, with the acquisition of the Bayway Refinery, produce approximately 400,000 barrels per day, or somewhat less than 3 percent of total U.S. daily production of petroleum products.
 -0- 3/4/93
 /CONTACT: Jefferson F. Allen or Daniel P. Mulderry of Tosco Corporation, 203-977-1000/
 (TOS)


CO: Tosco Corporation ST: Connecticut IN: OIL SU: PER

TS -- NY016 -- 2833 03/04/93 09:16 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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