Hess Explores Sale of Interests in Russia

Hess Corporation (NYSE: HES) announced today that as part of the
company′s strategic reshaping of its portfolio it will pursue the sale
of its Russian subsidiary Samara-Nafta, which produces approximately
50,000 barrels of oil equivalent per day in the Volga-Urals region. Hess
has retained Goldman Sachs as its financial adviser in connection with
the potential sale.

Hess Corporation is a leading global independent energy company engaged
in the exploration for and production of crude oil and natural gas, as
well as in refining and in marketing refined petroleum products, natural
gas and electricity. More information on Hess Corporation is available
at http://www.hess.com.

Cautionary Statements

This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934.These
projections and statements reflect the company′s current views with
respect to future events and financial performance.No assurances
can be given, however, that these events will occur or that these
projections will be achieved, and actual results could differ materially
from those projected as a result of certain risk factors.A
discussion of these risk factors is included in the company′s periodic
reports filed with the Securities and Exchange Commission.

Hess Corporation

Investors:

Jay
Wilson, 212-536-8940

or

Media:

Jon
Pepper, 212-536-8550