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ARCO TO SPEND $7 MILLION FOR NEW PROJECTS FOCUSING ON JOBS, BUSINESS DEVELOPMENT, REVITALIZING INNER CITY LOS ANGELES

 Ongoing Contributions Bring Total to $20 Million
 LOS ANGELES, Jan. 13 /PRNewswire/ -- ARCO (NYSE: ARC) will commit


$7 million to 12 new projects aimed at creating jobs, promoting business development, and revitalizing inner city areas of Los Angeles, ARCO Chairman and Chief Executive Officer Lodwrick M. Cook announced today.
 The $7 million is in addition to approximately $13 million in purchases from local minority-owned businesses and ongoing contributions to community programs in South, South Central and East Los Angeles which ARCO expects to make in 1993.
 "We have cast a wide net with this $20 million commitment, but the No. 1 priority is jobs for the inner city," said Cook. "We reviewed our program with the leadership at Rebuild L.A. and received their support and cooperation."
 Of the $7 million in new ARCO programs, almost $6 million is earmarked for job training, job development, and loans to start or expand businesses.
 "ARCO has long been sensitive to the needs of the minority business community," Cook added. "Last year alone, ARCO purchased $9.5 million in goods and services from minority-owned businesses in Los Angeles as part of a long-standing Minority Business Development program. That figure is expected to grow in future years. Even through ARCO has provided substantial assistance in the past, we concluded that an additional commitment should be made."
 Three of the largest commitments are:
 -- A $1 million grant to the Los Angeles Urban League to establish an Entrepreneur Training & Business Development Center that will: 1) provide technical assistance and resource information to small business owners; and 2) train aspiring entrepreneurs to develop and manage new businesses. It is anticipated that 100 businesses and entrepreneurs will be served during the center's first year.
 -- A $1 million gift of land and financial support to the Puente Learning Center, and East Los Angeles-based agency serving adults and pre-schoolers. The funds will assist the center in opening a new facility at the corner of Century Boulevard and Western Avenue for the growing Hispanic population in South Central Los Angeles. Besides donating the land, ARCO will make a cash contribution that will assist up to 250 students per day with English instruction, preparation for a high school diploma, job training and child development.
 -- A $1 million capital investment in Founders National Bank of Los Angeles, California's only African-American-owned commercial bank, and an additional commitment to match up to $1 million contributed by other companies. By adding to the bank's capital reserves, the ARCO investment will substantially increase the bank's ability to make loans for inner city business development. It is estimated that every $1 invested by ARCO will generate $15 in new loans. (Details of this program were announced by Founders Bank last month.)
 Also in the area of job training and development, ARCO announced the following commitments:
 -- A $400,000 training program begun last November at the Abram Friedman Occupational Center to qualify inner city residents for jobs at ARCO's SmogPros Express Test & Repair Centers or similar test/repair facilities. ARCO expects to graduate four classes by June 1993, each with 15 trainees who will be paid while they attend class. Once the graduates are certified by the state, ARCO will ensure that they find employment.
 -- A $500,000 commitment for two training programs at ARCO's Los Angeles Refinery in Carson. Half of the commitment is for a six-month training program in skilled and semi-skilled refinery positions. Upon completion of the program, the 15 trainees -- along with the minority contractor providing the training -- will be given work assignments at the refinery. Another $250,000 will provide a helper training program for 50 people through an ARCO contractor, Brown & Root.
 -- A $350,000 grant to the Coalition for Women's Economic Development to help low-income women achieve self-sufficiency through self-employment. CWED offers women entrepreneurs a 12-week training program, then organizes the graduates into peer-lending circles that determine small loans for start-up businesses. The ARCO grant will allow CWED to expand its programs into South Central and East Los Angeles, Echo Park, San Pedro, Wilmington and Long Beach. Over the next three years, CWED expects to train more than 1,000 new low- income business owners and make up to 180 new loans.
 -- A $250,000 grant to the Korean Youth and Community Center to expand KYCC's successful glass, paper and aluminum recycling business. KYCC is a state-certified collection program and has been approved by the City's Recycling and Waste Reduction Division. The grant will help KYCC create 50 new jobs for inner city youngsters from a variety of ethnic backgrounds.
 -- A $215,000 commitment to: 1) set up a technical training scholarship fund and subsidize local training programs for 10 inner- city residents with mechanical and technical aptitude. A related program will offer mentoring for the 10 trainees; 2) work with the Carson-Lomita-Torrance Private Industry Council to identify additional men and women for a job readiness and placement program.
 -- A $150,000 grant for startup of "New Beginnings," a monthly newsletter listing job opportunities in the Greater Los Angeles area. The project is a partnership between Rebuild L.A.'s Media Task Force and Youth Job Awareness Project, a community organization that locates jobs for inner city youth and young adults and provides counseling, mentoring and pre-employment education.
 "While jobs and economic development are extremely important, there are other community needs, and our grants program addresses some of the more critical of these," said Cook. They include:
 -- A $800,000 grant to CARECEN (Central American Resource Center), a multiservice center for Central American immigrants in the Pico-Union district. The grant provides the final funding needed to convert a former Immigration and Naturalization Service detention facility into a center for community programs and child care at 11th Street and Alvarado Boulevard.
 -- A $270,000 grant allowing Junior Achievement (JA) of Southern California to expand its Business Basics program within the Pico- Union district, Koreatown and South Central and East Los Angeles, reaching more than 22,500 elementary school students. The grant also allows JA to create a new position, manager of minority business development, to involve more minority business professionals as classroom role models and recruit more minority-owned businesses into JA programs.
 -- A $100,000 grant to the Carson Boys & Girls Club for ongoing programs at the club.
 "As I noted earlier," said Cook, "ARCO has been heavily involved in the inner city of Los Angeles for many years -- long before last April's violence. In 1992, ARCO contributed over $2.4 million to non-profit agencies serving Los Angeles inner city residents. We also invested $1 million in the National Equity Fund for development of new low-income housing in Los Angeles.
 "Immediately after the riots, we began the process of identifying areas where ARCO could provide further assistance to the community. Six days after the violence ended, we contributed $1 million to emergency relief for riot victims. That figure was later supplemented by $100,000. Using minority contractors, we remodeled and re-opened 41 ARCO stations damaged and vandalized by rioters. Other ARCO stations will be rebuilt when we have the necessary permits. In October, we joined the L.A. Clippers in a citywide Neighborhood PRIDE' program to refurbish basketball courts in 21 parks. PRIDE augments a program that has been a fixture in L.A.'s inner city parks for over two decades -- the ARCO Jesse Owens Games.
 "ARCO and the private sector cannot rebuild L.A. by themselves, but we can play a critical role. We at ARCO are proud to join the many companies that are committed to this goal. I am confident that progress will be made."
 ARCO COMMITMENTS
 L.A. Urban League $1,000,000
 Founders National Bank 2,000,000
 Puente Learning Center 1,000,000
 CARECEN 800,000
 Refinery Training 500,000
 SmogPros Training 400,000
 CWED 350,000
 Junior Achievement 270,000
 Korean Youth & Community Center 250,000
 Scholarship Fund/PIC 215,000
 "New Beginnings" Newsletter 150,000
 Carson Boys & Girls Club 100,000
 Total 7,035,000
 -0- 1/13/92
 /CONTACT: Albert Greenstein, 213-486-3384, or Scott Loll, 213-486-2562, both of ARCO/
 (ARC)


CO: ARCO ST: California IN: OIL SU:

JB-KJ -- LA004 -- 4419 01/13/93 11:04 EST
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Date:Jan 13, 1993
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