Kuala Lumpur, February 20 - Esso Malaysia Berhad today announced the Company's fourth quarter and full year results for the year ended December 31, 2007 as follows:

The Company recorded an after tax profit of RM14 million in the fourth quarter, compared to a loss of RM47 million in the same period in 2006.  This brought full year net income for 2007 to RM57 million, compared to RM7 million earned in the prior year.

Revenues for the quarter were RM2.9 billion, compared to RM2.0 billion in the fourth quarter of 2006, and revenues for the full year were RM9.7 billion, compared to RM9.3 billion in 2006, reflecting higher product prices.

The Company turned in a profitable year despite a tough business environment. Refining margins were impacted by rising crude prices, but the impact in the quarter and for the full year was offset by continued strength in the controlled products sector.

Sales to the higher margin local market remained strong despite aggressive competition, and our plants continued to record excellent operational performance. The Company’s refinery and distribution terminals completed 11 years of continuous operations without an employee lost time injury, winning several industry awards including the Grand Award from the Malaysian Society for Occupational Safety & Health.

Business Outlook
The expected continued growth of the Malaysian economy in 2008 will fuel increasing demand for petroleum products. However competition will remain intense and market price volatility will continue to put pressure on product margins. In this environment our strategy remains focused on product and service quality, flawless operations and cost control. The Company will continue efforts to enhance operating efficiency and grow our retail network through selective investment in high growth areas.

Dividends for Financial Year 2007
In consideration of the Company’s business performance and to sustain a steady return to the shareholders, the Board proposes a dividend for the year ended December 31, 2007 of 12 sen less Malaysian income tax at 26% per ordinary stock unit.  This matches the dividend for the 2006 financial year.