Annual Reports

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HISTORICAL FINANCIAL STATISTICS

Per Common Share

Dec. 31
Value of Net Assets Applicable to Common Stock Common Shares Outstanding Net Asset Value Per Common Share Dividends From Net Investment Income Distributions From Net Realized Gains

1984 $219,202,630 7,941,979 $27.60 $1.26 $2.27
1985 237,489,296 8,372,627 28.36 1.38 2.34
1986 246,071,990 8,979,978 27.4 1.45 2.89
1987 234,062,235 9,636,306 24.29 1.67 2.31
1988 248,370,688 9,997,584 24.84 0.92 1.2
1989 322,866,019 10,384,600 31.09 1.2 1.2
1990 308,599,851 10,793,289 28.59 1.1 1.25
1991 314,024,187 11,185,572 28.07 0.92 1.23
1992 320,241,282 11,579,503 27.66 0.77 1.23
1993 355,836,592 12,006,671 29.64 0.82 1.3
1994 332,279,398 12,380,300 26.84 0.92 1.18
1995 401,404,971 12,739,383 31.51 0.87 1.22
1996 484,588,990 13,065,819 37.09 0.82 1.32
1997 556,452,549 13,422,787 41.46 0.77 1.56
1998 474,821,118 13,841,375 34.3 0.78 1.51

Stock Data

Price (12/31/98) $30 5/8
Net Asset Value (12/31/98) $34.30
Discount: 10.7%

New York Stock Exchange and Pacific Exchange ticker symbol: PEO
Newspaper stock listings are generally under the abbreviation: PetRs

This report, including the financial statements herein, is transmitted to the stockholders of Petroleum & Resources Corporation for their information. It is not a prospectus, circular or representation intended for use in the purchase or sale of shares of the Corporation or of any securities mentioned in the report.
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