8-K

                                                            
                          
         SECURITIES AND EXCHANGE COMMISSION
                          
              Washington, D.C.   20549
                  ________________
                          
                      FORM 8-K
                  ________________
                          
                   Current Report
       Pursuant to Section 13 or 15(d) of the
           Securities Exchange Act of 1934
                          

Date of Report (Date of earliest event reported):  March 24, 1997


                     ATLANTIC RICHFIELD COMPANY
        ------------------------------------------------------
        (Exact name of registrant as specified in its charter)


                              Delaware
            ----------------------------------------------
            (State or other jurisdiction of incorporation)


             1-1196                                  23-0371610
    ------------------------                     ------------------
    (Commission File Number)                      (IRS Employer
                                                 Identification No.)


    515 South Flower Street, Los Angeles, California       90071
   -------------------------------------------------      -------
      (Address of principal executive offices)           (Zip Code)


    Registrant's telephone number, including area code: (213) 486-3511


                            Not Applicable
     -------------------------------------------------------------
     (Former name or former address, if changed since last report)




Item 5.  Other Events.

     Press Release, dated March 24, 1997, concerning
ARCO's stock split and increase in quarterly cash
dividend.


                        - 2 -




                      SIGNATURE

     Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.

                              ATLANTIC RICHFIELD COMPANY


                               /s/ ALLAN L. COMSTOCK
                              ________________________________
                              Allan L. Comstock
                              Vice President and Controller


Dated:  March 24, 1997


                               - 3 -

EX-99

ARCO [LOGO]    Media Relations
               515 South Flower Street
               Los Angeles CA  90071-2201
               Telephone  213  486 3385
               Facsimile  213  486 0169


               FOR IMMEDIATE RELEASE                       March 24, 1997


ARCO ANNOUNCES 2-FOR-1 STOCK SPLIT,
4% INCREASE IN QUARTERLY CASH DIVIDEND


        LOS ANGELES -- ARCO's Board of Directors today approved a 2-for-1

stock split by means of a 100% stock dividend and a 4% increase in the

company's quarterly cash dividend.

        The decision will give ARCO stockholders one additional share for

every share they currently hold and increase ARCO's quarterly dividend paid

on common shares to $1.425 per share (pre-split basis) or $0.7125 per share

(post-split), up from the current pre-split level of $1.375 per share,

effective June 13.

        ARCO Chairman and Chief Executive Officer Mike R. Bowlin said, "The

Board's action today demonstrates our optimism toward ARCO's future, in both

the short- and long-term.  We have seen healthy earnings growth since 1993.

We see an improved oil and gas production profile based on recent progress

in reserves replacement and implementation of major projects.

        "The outlook for ARCO and our interest in making ARCO a more

attractive investment for all our stockholders were the primary factors in

the Board's decision, as was our desire to have a competitive dividend

policy," Bowlin said. 

        The stock dividend and increase in the cash dividend will take

effect with ARCO's second quarter dividend which is payable June 13, 1997

to stockholders of record on May 16, 1997.  The additional shares will be

distributed by June 13, 1997.




Page 2


       As of December 31, 1996, ARCO had 161,086,174 common shares

outstanding.  The company's last stock split was effective June 30, 1980.

ARCO increased its dividend to $5.50 per share ($1.375 quarterly) on

January 28, 1991.

                                # # #


For added information, contact: (media) Albert Greenstein, 213-486-3384
                                (investors) Steve Enger, 213-486-1811.
For a menu of ARCO news releases, visit ARCO at http://www.arco.com.