Division approves of expansion of Nicolai Creek participating areas

Exxon Mobil Corp. said today that it has been advised by the Ninth Circuit Court of Appeals that the plaintiffs' motion for a rehearing on Exxon Valdez punitive damages by the full Ninth Circuit Court has been denied. ExxonMobil Chairman Lee Raymond said Nov. 7, 2001, that the Ninth Circuit Court of Appeals confirmed the company's position that the $5 billion punitive damage award related to the Exxon Valdez accident was excessive. Raymond said the Valdez oil spill was a tragic accident that ExxonMobil deeply regrets. The appeals court decision sends the case back to the federal court in Anchorage with orders to reduce the award to an amount consistent with constitutional limits.