ANCHORAGE, AK. April 30, 1996. -- The Owners of the Trans Alaska Pipeline System (TAPS) announced today that they have elected Bob Malone to succeed David Pritchard as President and CEO of Alyeska Pipeline Service Company (Alyeska) on September 1,1996. They asked Malone and Pritchard to work closely together over the next few months to ensure an orderly transition.

The TAPS Owners applaud Alyeska's successes under Pritchard's leadership and are supportive of releasing Pritchard earlier than expected to pursue an opportunity with his parent company, British Petroleum. Pritchard has served as President of Alyeska for a little over three years. Malone, currently President of BP Pipelines (Alaska) Inc., has worked with Alyeska and TAPS since 1993, and has served as Chairman of the TAPS Owners Committee since January 1, 1995. Malone is familiar with the Alyeska organization and the possibilities open to it. Malone is committed to Alyeska's strategy of building on operational excellence to create future opportunities.

Malone joined BP in 1974, and has held a number of operating, technical, staff and senior management positions. He received his Bachelor of Science in Metallurgical Engineering from the University of Texas at El Paso and was an Alfred P. Sloan Fellow at the Massachusetts Institute of Technology where he received a Master of Science in Management. Malone and his family reside in Anchorage.

Pritchard's next assignment, as well as Malone's successor, will be the subject of future announcements by BP.