KUALA LUMPUR, November 19 - Esso Malaysia Berhad today announced the Company's third quarter results for the period ended September 30, 2008:

The Company recorded an after tax profit of RM76 million for the first nine months of 2008 compared to RM43 million in the same period of 2007, reflecting stronger margins and higher sales volumes.  However for the third quarter 2008 the Company recorded a loss of RM133 million compared to a profit of RM15 million in the third quarter of 2007 driven by inventory losses from the steep decline in crude and product prices. These losses reversed inventory gains made earlier in the year.

Revenues were RM3.7 billion for the quarter and RM9.9 billion for the first nine months, both up about 47% from the same period of 2007 driven by higher product prices.

Crude and product prices have continued to decline in the fourth quarter, and the outlook for the industry remains challenging given the price volatility and expected continued economic uncertainty. In this environment, the Company will continue to look for ways to sustain its competitive position while remaining focused on operational efficiency.