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Announcement Court Hearing Regarding Binding Declaration of the Shell Securities Fraud Settlement Agreement

AMSTERDAM, October 7 /PRNewswire/ — The Amsterdam Court of Appeals has scheduled a hearing on 20 November 2008 regarding the petition to declare the Non-US Settlement Agreement concerning reserve-related claims binding.

The parties to the settlement agreement include Shell*, institutional investors including APG (All Pensions Group on behalf of pension fund ABP) and PGGM (on behalf of Stichting Pensioenfonds Zorg en Welzijn), the Vereniging van Effectenbezitters (VEB), the Dutch shareholders association representing individual shareholders in The Netherlands and similar organizations, and the Stichting Shell Reserves Compensation Foundation.

This settlement agreement provides relief in the amount of US$352.6 million to qualifying non-U.S.-shareholders who bought Shell shares on any stock exchange outside the United States between April 8, 1999 and March 18, 2004 (the Non-US Settlement).

The shareholders referred to in the Settlement Agreement may file a defense against the petition by the parties to declare the Settlement Agreement binding with the Court’s registry in Amsterdam by 9 October 2008 at the latest.

Please follow this link to read the full official announcement.

About the Stichting Shell Reserves Compensation Foundation

The Stichting Shell Reserves Compensation Foundation (the Foundation) is a foundation representing all shareholders covered by the European settlement agreement. The Foundation’s participants, which are all fully supporting the European settlement agreement, include approximately 150 institutional investors, including APG (All Pensions Group on behalf of pension fund ABP), PGGM (on behalf of Stichting Pensioenfonds Zorg en Welzijn), DEKA, Norges, UBS and Morley, amongst others) as well as Euroshareholders, the confederation of European shareholders associations, and 18 other organizations representing individual shareholders from Belgium, France, Germany, Italy, Sweden, The Netherlands and a number of other countries. Together with Shell, APG, PGGM and the VEB (the Dutch Shareholders Association), the Foundation has requested that the Court declare this settlement binding. If the Court declares the settlement binding and the settlement agreement becomes final, it is the Foundation’s task to distribute the settlement amounts to the investors that are entitled thereto.

* The expression “Shell” as used in this release indicates the two former parent companies, i.e. The Shell Transport and Trading Company, Ltd., (formerly: The “Shell” Transport and Trading Company, plc.) and Shell Petroleum N.V. (the successor company to Royal Dutch Petroleum Company).


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SOURCE Stichting Shell Reserves Compensation Foundation

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