HOUSTON, Nov. 1 /PRNewswire-FirstCall/ -- Frontier Oil Corporation
(NYSE: FTO) announced that the Los Angeles Superior Court hearing the
Beverly Hills Lawsuits (described more fully on pages 13-14 in the
Company's 10-Q report for the quarter ended June 30, 2006) has entered an
order granting summary judgment in favor of Frontier Oil Corporation
(Frontier). As a result of this order, the plaintiffs in the Beverly Hills
Lawsuits can no longer prosecute claims against Frontier, either for
Frontier's alleged direct liability or for any of the plaintiffs' claims
against Wainoco Oil & Gas Company (WOGC), a subsidiary of Frontier. The
Court's order, which may be appealed by the plaintiffs, pertains only to
the claims against Frontier and not its subsidiary, WOGC, which remains a
defendant. The revenue, income and assets of WOGC are not material to the
operations of the parent company, Frontier Oil Corporation.
    Frontier has an insurance policy in excess of $100 million for the
Beverly Hills Lawsuits, the terms of which are described more fully in the
Company's 10-Q report for the quarter ended June 30, 2006. The insurance
remains in place and available to cover both WOGC and Frontier for defense
costs, potential liability to plaintiffs and indemnity claims. The Court's
Order does not affect the unresolved indemnity claims asserted by or
against Frontier.
    The trial in the first of the Beverly Hills Lawsuits, previously
scheduled to begin on October 30, 2006, is now scheduled to commence on
November 27, 2006. This litigation is a multi-plaintiff, multi-defendant
suit in which plaintiffs claim to have been damaged by various activities
on the site of Beverly Hills High School and the surrounding area.
    Frontier operates a 110,000 barrel-per-day refinery located in El
Dorado, Kansas, and a 52,000 barrel-per-day refinery located in Cheyenne,
Wyoming, and markets its refined products principally along the eastern
slope of the Rocky Mountains and in other neighboring plains states.
    This press release includes "forward-looking statements" as defined by
the Securities and Exchange Commission. Such statements are those
concerning strategic plans, expectations and objectives for future
operations. All statements, other than statements of historical fact,
included in this press release that address activities, events or
developments that the Company expects, believes or anticipates will or may
occur in the future are forward-looking statements. These statements are
based on certain assumptions made by the Company based on its experience
and perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the
circumstances. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the
Company. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments
may differ materially from those projected in the forward-looking
statements.

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