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TOSCO COMPLETES SALE OF SUBSIDIARY

 STAMFORD, Conn., May 4 /PRNewswire/ -- Tosco Corporation (NYSE: TOS) announced today that it completed the sale of the principal operating assets of its wholly-owned subsidiary, Seminole Fertilizer Corporation, to Cargill Fertilizer, Inc. Seminole's interest in the Fort Meade Chemical Products partnership, which remains for sale, was not included in the transaction.
 Mr. Thomas D. O'Malley, Tosco's chairman and chief executive officer, said, "Our divestiture of a majority of Seminole along with the company's recent expansion in the petroleum refining industry positions Tosco as an important supplier of petroleum products in the United States. We are pleased with the rapid and efficient completion of each transaction and look forward to focusing our efforts on Tosco's primary business of petroleum refining."
 Seminole Fertilizer Corporation, located near Lakeland, Fla., is a manufacturer and wholesale marketer of phosphate-based fertilizers.
 Cargill Fertilizer, Inc. is a subsidiary of Cargill. Cargill is an international marketer and processor of agricultural and other bulk commodities, with offices and facilities in more than 800 worldwide locations employing more than 66,000 people.
 Tosco Corporation is a large independent refiner and wholesale marketer of petroleum products and now produces over 400,000 barrels per day or slightly less than 3 percent of the petroleum products produced in the United States.
 -0- 5/4/93
 /CONTACT: Jefferson F. Allen or Daniel P. Mulderry of Tosco Corporation, 203-977-1000/
 (TOS)


CO: Tosco Corporation; Seminole Fertilizer Corporation ST: Connecticut, Florida IN: OIL SU:

AH-LD -- NY001 -- 4297 05/04/93 11:50 EDT
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Publication:PR Newswire
Date:May 4, 1993
Words:247
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