On 26 May 2009, Caltex Australia (Caltex) entered into an agreement to acquire 302 Mobil service station sites.  The agreement was subject to Australian Competition and Consumer Commission (ACCC) and Foreign Investment Review Board (FIRB) review and clearance.

On 2 December 2009, the ACCC announced its decision to oppose the acquisition and set out its reasons in its Public Competition Assessment on 9 February 2010.  Caltex does not agree with the ACCC's position, but has since engaged in discussions with Mobil in relation to possible solutions to the ACCC's concerns.  The parties have now agreed they will not proceed with the current proposal.  However, Caltex will continue to explore opportunities to grow its business.

Caltex remains focussed on improving its base business and driving growth in earnings through cost and capital efficiency, organic growth in marketing and leveraging our integrated supply chain.

Media contact:                                                             Investor contact:

Felicity Wilson                                                               Fran Van Reyk

Acting Media Adviser                                                      Manager Investor Relations

02 9250 5887                                                                 02 9250 5378

fwilson@caltex.com.au                                                     fvanrey@caltex.com.au