EL SEGUNDO, Calif., Dec. 13 2004 – LAWFUEL – First with law news — The following
statement of the parties is being issued today by Unocal Corporation
(NYSE: UCL).
The parties to several lawsuits related to Unocal’s energy investment in
the Yadana gas pipeline project in Myanmar/Burma announced today that they
have reached a settlement in principle of their suits. Although the terms are
confidential, the settlement in principle will compensate plaintiffs and
provide funds enabling plaintiffs and their representatives to develop
programs to improve living conditions, health care and education and protect
the rights of people from the pipeline region. These initiatives will provide
substantial assistance to people who may have suffered hardships in the
region. Unocal reaffirms its principle that the company respects human rights
in all of its activities and commits to enhance its educational programs to
further this principle. Plaintiffs and their representatives reaffirm their
commitment to protecting human rights.
SOURCE Unocal Corporation
Web Site: http://www.unocal.com
