EX-99.4 7 d02225exv99w4.txt PRESS RELEASE ISSUED ON DECEMBER 26, 2002 EXHIBIT 99.4 [TESORO LOGO] FOR IMMEDIATE RELEASE CONTACT: INVESTORS: JOHN ROBERTSON, DIRECTOR, INVESTOR RELATIONS, (210) 283-2687 MEDIA: TARA FORD, DIRECTOR, PUBLIC RELATIONS, (210) 283-2676 TESORO AND KANEB PIPE LINE PARTNERS COMPLETE TRANSACTION SAN ANTONIO - DECEMBER 26, 2002 - Tesoro Petroleum Corporation (NYSE:TSO) announced today that the company has completed the sale of the Northern Great Plains Products System to Kaneb Pipe Line Partners, L.P. (NYSE: KPP) for $100 million, $50 million of which will be used to pay down term debt. Tesoro Petroleum Corporation, a Fortune 500 Company, is an independent refiner and marketer of petroleum products and provider of marine logistics services. Tesoro operates six refineries in the western United States with a combined capacity of nearly 560,000 barrels per day. Tesoro's retail-marketing system includes nearly 600 branded retail stations, of which over 200 are company operated under the Tesoro(R) and Mirastar(R) brands. ###