SEC Announces $113.5 Million Distribution in Royal Dutch Shell Fair Fund

FOR IMMEDIATE RELEASE
2010-67

Washington, D.C., April 30, 2010 — The Securities and Exchange Commission today announced the start of an approximately $113.5 million Fair Fund distribution resulting from the settlement of a previous SEC enforcement action against Royal Dutch Petroleum Company and The "Shell" Transport and Trading Company, PLC.

The Fair Fund was created after Shell agreed to pay penalties and disgorgement to settle SEC charges that Shell misstated its proved oil and gas reserves. The Fair Fund distribution will continue over the next month and ultimately return money to more than 84,000 investors in the U.S. and 56 other countries.

The U.S. District Court for the Southern District of Texas, Houston Division, approved the Fair Fund distribution plan earlier this week. The Fair Fund made an interim distribution of approximately $4.2 million in June 2009 to more than 83,000 investors worldwide holding relatively small claims.

The SEC's Fair Fund distribution is independent from two other settlements that Shell entered with certain private parties in the Netherlands and in U.S. District Court in New Jersey. It has no effect on any investor rights in those settlements.

The Sarbanes-Oxley Act of 2002 (SOX) gave the SEC authority to increase the amount of money returned to injured investors by allowing the addition of penalties to create a Fair Fund distribution. Before SOX, only disgorgement could be returned to investors.

The distribution agent responsible for the Shell Fair Fund is Richard C. Breeden. Information about the distribution, including toll-free numbers for 11 countries, can be found at www.ShellSECSettlement.com. Investors in the U.S. may contact the distribution agent by telephone at 1-866-446-3412 or by e-mail at info@ShellSECSettlement.com.

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For more information about the enforcement action, contact:

David L. Peavler
Assistant Director, SEC Division of Enforcement
(817) 978-1417

Gordon Brumback
Assistant Director, SEC Division of Enforcement
(202) 551-4424