BALTIMORE, MARYLAND -- DECEMBER 11, 2006 - The price at which Petroleum & Resources Corporation (NYSE: PEO) common stock will be issued in payment of the $0.18 income dividend and $3.23 capital gain distribution to stockholders who have elected to receive the distributions in stock, payable December 27, 2006, is $33.73 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.
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For further information, please contact:
Douglas G. Ober, Chairman, Chief Executive Officer & President
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
(410) 752-5900 or (800) 638-2479
E-mail: contact@peteres.com
Website: www.peteres.com
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