BALTIMORE, MARYLAND, December 8, 2003 -- The price at which Petroleum & Resources Corporation common stock will be issued in payment of the $0.08 optional income dividend and $0.72 capital gain distribution (the stockholders may elect to receive both in cash or stock) payable December 27, 2003 is $21.735 per share. This price is the mean between today's high and low sales prices of the Corporation's stock on the New York Stock Exchange.
Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange and Pacific Exchange, and its symbol is PEO.
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For further information, please contact:
Douglas G. Ober, Chairman, President & Chief Executive Officer
Lawrence L. Hooper, Jr., Vice President, Secretary & General Counsel
at (410) 752-5900 or (800) 638-2479
E-mail: contact@peteres.com
Website: www.peteres.com
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