OLD GREENWICH, Conn., Jan. 28 /PRNewswire-FirstCall/ --
Premcor Inc. (NYSE: PCO) announced that its subsidiary, Premcor USA Inc.,
gave notice on January 24, 2003 that it is calling for redemption its 11 1/2%
Subordinated Exchange Debentures Due 2009. The debentures will be redeemed on
February 24, 2003 and will include a call premium of 5.75%. There is
currently $40.1 million in principal amount of the debentures outstanding.
Premcor Inc. is one of the largest independent petroleum refiners and
marketers of unbranded transportation fuels and heating oil in the United
States.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including the
company's current expectations with respect to future market conditions,
future operating results, the future performance of its refinery operations,
and future debt reductions. Words such as "expects," "intends," "plans,"
"projects," "believes," "estimates," "may," "will," "should," "shall," and
similar expressions typically identify such forward-looking statements. Even
though Premcor believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give no assurance that
its expectations will be attained. Factors that could cause actual results to
differ materially from expectations include, but are not limited to,
operational difficulties, varying market conditions, potential changes in
gasoline, crude oil, distillate, and other commodity prices, government
regulations, and other factors contained from time to time in the reports
filed with the Securities and Exchange Commission by the company and its
subsidiaries, Premcor USA Inc. and The Premcor Refining Group Inc., including
the company's Form S-1 and the company's and its subsidiaries' quarterly
reports on Form 10-Q, reports on Form 8-K, and annual reports on Form 10-K.
SOURCE Premcor Inc.
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Related links:
http://www.premcor.com
CONTACT:
Media or Investors, Joe Watson,
+1-203-698-7510, or Investors, Karen Davis, +1-314-854-1424, or
Michael Taylor, +1-314-719-2304, all of Premcor Inc.
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