Press Release

Shell Announces Strengthened Truenorth Assets

28/06/2006

Truenorth Energy to Acquire 29 Branded Locations in Columbus, OH.

Shell Oil Products US (Shell), the marketer of the no. 1 selling gasoline brand in America, announced that its affiliate, True North Energy, LLC of Toledo, Ohio, was the successful bidder for 29 Shell-branded locations and three supply contracts in the Columbus area. Last fall, Shell had publicly stated its intent to sell retail assets in 16 regions to better support its wholesale business and move toward its vision of becoming the best fuels retailer in the world.

This transaction means that Truenorth, Shell’s largest fuel wholesaler, will now supply 335 million gallons annually to 230 Shell-branded locations in Ohio and Michigan. Truenorth will continue to use the Shell brand at the 29 locations purchased, thereby better serving customers and maintaining awareness of the Shell brand in the region. According to a confidentiality agreement between the parties, the purchase price cannot be disclosed at this time. 

The divestment is consistent with Shell’s strategy of managing its portfolio to deliver maximum value to customers and shareholders. Stu Crum, Shell's General Manager Retail Strategy & Portfolio US explained, "This transaction allows us to have a premiere Shell wholesaler located in central Ohio to serve customers in the state. Truenorth has always represented the Shell brand well and their outstanding service delivery of our customer value proposition is reflective of the Shell brand.” Geoff Lyden, CEO of Truenorth, stated, “The purchase of the Columbus assets complements our network and affords us a great opportunity to market Shell products in a growing metropolitan area.”

Local consumers can take advantage of rebates on quality Shell fuels by calling 1-877-MY-SHELL or logging onto www.877MyShell.com to apply for the Shell Platinum MasterCard® from Citi Cards.  The Shell MasterCard currently offers one of the best rebate programs in the industry with a 5 percent rebate on Shell quality fuels and a 1 percent rebate on retail purchases anywhere the card is used. 

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this release, the expressions “Shell”, “Group” and “Shell Group” are sometimes used for convenience where references are made to Group companies in general.  Likewise, the words “we”, “us” and “our” are also used to refer to Group companies in general or those who work for them. These expressions are also used where there is no purpose in identifying specific companies.

Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the refining, transportation and marketing of fuels and has a network of approximately 6,500 branded gasoline stations in the Western United States. Shell Oil Company is an affiliate of the Shell Group (NYSE:RDS.A) & (NYSE:RDS.B). For more information, please visit www.shell.com

True North Energy LLC is headquartered in Toledo, OH, and has operated and supplied Shell-branded gasoline stations throughout Ohio and Michigan since 1999. For more information, please visit www.truenorth.org

The Lyden Company, originally based in Youngstown, OH, has been providing quality gasoline to customers in Ohio for 87 years. The Lyden Company is a 50% owner of True North Energy LLC, along with Shell Oil Products US.

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Disclaimer statement:
This announcement contains forward-looking statements, that are subject to risk factors associated with the oil, gas, power, chemicals and renewables business. It is believed that the expectations reflected in these statements are reasonable, but may be affected by a variety of variables which could cause actual results, trends or reserves replacement to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, risks associated with the identification of suitable potential acquisition properties and targets and the successful negotiation and consummation of transactions, the risk of doing business in developing countries, legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Please refer to the Annual Report on Form 20-F for the year ended December 31, 2004 (as amended) for a description of certain important factors, risks and uncertainties that may affect the Shell Group's businesses.  Neither Royal Dutch Shell plc nor any member of the Shell Group undertakes any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or other information.

Cautionary Note to US Investors: 
The United States Securities and Exchange Commission ('SEC') permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions.  We use certain terms in this presentation, such as "expected producible resources" and "amount of reserves we expect to produce", that the SEC's guidelines strictly prohibit us from including in filings with the SEC.