Premcor Announces Distribution of Blackstone's Shares to Blackstone In

OLD GREENWICH, Conn., April 29 /PRNewswire-FirstCall/ -- Premcor Inc. today announced that 19,117,104 shares of Premcor common stock are being distributed by Blackstone Capital Partners III ("Blackstone") to Blackstone's investors.

The investors receiving the distribution of Premcor common stock are not restricted from selling their shares, except that Blackstone personnel receiving shares are subject to the limitations of Rule 144 under the Securities Act of 1933. Premcor will not receive any proceeds from the distribution or from any sales of the shares of common stock.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy.

Premcor Inc. is one of the largest independent petroleum refiners and marketers of unbranded transportation fuels and heating oil in the United States.