KUALA LUMPUR, August 20 - Esso Malaysia Berhad today announced the Company's second quarter and half year results for the period ended June 30, 2008:

The Company recorded an after tax profit of RM159 million for the second quarter 2008, compared to RM11 million recorded in the same period last year.  This brings profits for the first half of the year to RM209 million, compared to the profits of RM28 million recorded in the first half of 2007.  The stronger second quarter and first half 2008 results were driven by inventory gains from escalating crude and product prices, and improved margins.

Revenues for the second quarter and the half year were RM3.3 billion and RM6.3 billion respectively, compared to the same periods of 2007 of RM2.4 billion and RM4.3 billion, driven by higher product prices.  

Looking forward, global crude and petroleum product prices will remain volatile and the Malaysian economy may moderate with slower global economic growth. In this challenging business and economic environment, the Company will continue to look for ways to sustain its competitive position while remaining focused on operational efficiency, cost containment and growing its profitable businesses.