news releases

Occidental Petroleum Declares Dividends

LOS ANGELES, July 15, 1999 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.25 per share of common stock payable October 15, 1999 to stockholders of record on September 10, 1999.

The board also declared a regular quarterly dividend of $.75 per share on Occidental's $3.00 Cumulative CXY-Indexed Convertible Preferred Stock payable October 1, 1999 to stockholders of record on September 10, 1999.

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           Kenneth J. Huffman (investors)
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