marathon oil 4th Quarter 2003

Marathon Oil Corporation reported strong financial results for Q4 2003 and full year 2003. Net income for Q4 2003 was $485 million compared to $194 million for Q4 2002. For full year 2003, net income was $1.321 billion compared to $516 million in 2002. The company replaced over 120% of production in 2003 through exploration success in Angola, Norway, Gulf of Mexico and Equatorial Guinea. Marathon also strengthened its financial position through asset sales of over $1.2 billion and initiated organizational changes expected to result in $135 million in annual savings beginning in 2004.