UPDATE: Hess Files Form 10 Related to Spin Off of Retail Business

Hess Corporation

announced today that Hess Retail Corporation, its wholly owned subsidiary, has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC). The Form 10 contains a preliminary information statement about the potential terms and conditions of a spin-off of Hess Retail Corporation to the stockholders of Hess Corporation. It also includes information about Hess Retail Corporation as a standalone company, including financial, capital structure, business, risk factor and management and governance information. The preliminary information statement is subject to change. The Form 10 is available on the SEC's website at http://www.sec.gov and on Hess' website at www.hess.com. Hess Corporation also announced that it has received a