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Murphy Oil Announces Election of New Directors

EL DORADO, Arkansas, December 12, 2000 -- Murphy Oil Corporation (NYSE:MUR) announced today that William L. “Bill” Rosoff and David J. H. Smith have been elected to the Board of Directors, effective February 7, 2001.

William Rosoff is Senior Vice President and General Counsel of Marsh & McLennan Companies, Inc. (MMC). Prior to joining MMC in October 2000, Mr. Rosoff was a Partner with Davis Polk & Wardwell, having rejoined that firm in October 1999 after serving for two years as Senior Vice President and General Counsel of RJR Nabisco, Inc.

Mr. Rosoff holds a B.A. in history from Columbia University. He earned a PhD in economic history at the University of California at Berkeley in 1975 and a JD, magna cum laude, from Harvard Law School in 1978.

David Smith is Chief Executive of Whatman plc, a life-sciences company headquartered in Maidstone, Kent, England. Before joining Whatman in 1994, Dr. Smith served in a number of capacities with BP Amoco including service as Head, BP Group Research and Engineering. He has also served as a professor of chemistry at institutions of higher learning around the world.

Dr. Smith is a graduate of the University of Aston in Birmingham, England and the University of Western Ontario and has obtained BSc and PhD degrees.

Claiborne P. Deming, President and CEO of Murphy Oil, stated, “We are delighted to add Bill Rosoff and David Smith to our Board. Both Bill and David are quite familiar with our Company and our industry and will bring a great deal of varied business experience to our Board.”

The elections were made by the Board at its regular meeting on December 6, 2000, concurrently with amending the By-laws to increase the number of directors from nine to eleven.

For More Information
     Barry Jeffery
Investor/ Media Relations
P.O. Box 7000
El Dorado, AR 71731-7000
(870) 864-6501

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