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RAWL OF EXXON TO RETIRE IN MAY; RAYMOND TO BE CHAIRMAN; SITTER PRESIDENT

 IRVING, Texas, Feb. 3 /PRNewswire/ -- Exxon Corporation (NYSE: XON) today announced that it is anticipated that Lee R. Raymond will become chairman of the board of directors and chief executive officer, effective April 28, 1993, the date of Exxon's annual shareholders' meeting. He will succeed Lawrence G. Rawl, who will reach mandatory retirement age in May. Mr. Rawl will not stand for re-election to the board of directors at the shareholders' meeting in April. He will continue as a member of Exxon's management committee until his retirement.
 Mr. Raymond has been serving as president of the corporation since January 1987.
 In addition, it is anticipated that Charles R. Sitter, a senior vice president and director since 1985, will succeed Mr. Raymond as president.
 A native of Watertown, S.D., Mr. Raymond graduated in 1960 from the University of Wisconsin with a bachelor's degree in chemical engineering. In 1963, he received a Ph.D. in the same discipline from the University of Minnesota. He joined Exxon that same year as a production research engineer in Tulsa, Okla. Over the next 16 years, he held positions of increasing responsibility with Exxon Company, U.S.A.; Creole Petroleum Corporation, which was Exxon's former operating affiliate in Venezuela; the former Exxon International Company, which was responsible for Exxon's international supply and transportation of petroleum products and crude oil; and Lago Oil & Transport Company, Ltd., the former Exxon affiliate in Aruba.
 Mr. Raymond became president of Exxon Nuclear Company, Inc., in 1979, and moved to New York in 1981, when he was named executive vice president of Exxon Enterprises, a company that had principal responsibility for Exxon's investments outside the fields of petroleum, chemicals and minerals. In 1983, Mr. Raymond was named president and director of the former Esso Inter-America Inc., with responsibilities for Exxon's operations in the Caribbean, Central and South America. Mr. Raymond was named a senior vice president and director of the corporation in 1984 and president in 1987.
 Mr. Raymond is a director of the American Petroleum Institute, and is president of the 25 Year Club of the Petroleum Industry. He is a director of J.P. Morgan & Co. Incorporated and the Morgan Guaranty Trust Company of New York.
 Mr. Raymond is a member of the Council on Foreign Relations, the Trilateral Commission, the American Council on Germany, and is an associate member of the Conference Board.
 Mr. Raymond is active in education, holding directorships in the Council for Aid to Education, National Action Council for Minorities in Engineering, Inc., United Negro College Fund, and the New American Schools Development Corporation. He is a trustee of the Wisconsin Alumni Research Foundation and Southern Methodist University.
 In the Dallas-Fort Worth area, Mr. Raymond is a co-chairman of the University of Texas Southwestern Medical Center's campaign executive committee and a member of the board of the Dallas Symphony Association.
 Charles R. Sitter was elected a director and senior vice president of the Exxon Corporation in May 1985. In his current position, Mr. Sitter's principal responsibilities include Exxon Chemical Company, as well as the corporation's treasurer's, controller's and tax activities.
 Mr. Sitter holds a bachelor's degree in foreign affairs from George Washington University and a master's degree from the Fletcher School of Law and Diplomacy. Prior to joining Exxon, he worked in the U.S. Department of State and served as an officer in the U.S. Marine Corps.
 In 1957, Mr. Sitter joined Exxon as a financial analyst in Exxon's international supply and transportation company, followed by a series of assignments in Exxon Corporation. He then became assistant treasurer of Esso Eastern, Inc., Exxon's former affiliate with responsibility for operations in the Far East and Australia. Later he moved to Bombay as financial director of Exxon's operations in India. In 1965, he was named treasurer of Esso Eastern and later assumed the added duties of manager of finance and planning.
 In 1971, Mr. Sitter was named chairman and managing director of Esso Australia Limited in Sydney, Australia. From there he moved to Houston where he became general manager of the supply department for Exxon Company, U.S.A., Exxon's principal domestic affiliate, and was subsequently named a senior vice president of that company.
 Returning to New York in 1979, Mr. Sitter was appointed vice president of the corporate planning department of Exxon Corporation. He moved to London in 1981 to become the executive vice president of Esso Europe. Two years later, he became executive vice president of Exxon Company, U.S.A, a position he held until he began his current assignment.
 Mr. Sitter is a member of the board of visitors of the Fletcher School of Law and Diplomacy, the board of Junior Achievement of Dallas, and the board of administrators of Tulane University.
 Mr. Rawl, chairman of the board and chief executive officer since 1987, is a graduate of the University of Oklahoma with a degree in petroleum engineering. Mr. Rawl joined the Humble Oil & Refining Company, the predecessor company to Exxon Company, U.S.A., in 1952. After increasingly responsible positions in U.S. operations, Mr. Rawl was appointed executive vice president of Exxon Company, U.S.A., in Houston. Subsequently, he was elected executive vice president and a director of Esso Europe Inc. in London. In 1980, he joined the corporation in New York as a senior vice president and director. He was named president in 1985.
 Mr. Rawl is a director of Texas Medical Center, Inc., Texas Commerce Bancshares, Inc., Warner-Lambert Company, Champion International Corporation, and the American Petroleum Institute. Mr. Rawl is a member of the board of visitors of the University of Texas MD Anderson Cancer Center.
 -0- 2/3/93
 /CONTACT: Bill Smith of Exxon, 214-444-1107 or -1109/
 (XON)


CO: Exxon Corporation ST: Texas IN: OIL SU: PER

GK -- NY068 -- 2471 02/03/93 14:01 EST
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Date:Feb 3, 1993
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