Petroleum & Resources Corporation Announces Issue Price of Shares for Year-End Distribution Payable December 27, 2008
Petroleum & Resources Corporation


Baltimore, MD, December 8, 2008 -- The price at which Petroleum & Resources Corporation (PEO: 18.79, +0.23, +1.2%) common stock will be issued in payment of the $0.08 income dividend and $2.52 capital gain distribution to stockholders who have elected to receive the distributions in stock, payable December 27, 2008, is $18.62 per share. This price is the mean between today's high and low sales prices of the Corporation's stock on the New York Stock Exchange.

Petroleum & Resources Corporation is a Baltimore-based closed-end investment company.


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