Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc

/C O R R E C T I O N -- Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc/

    The Hague (ots/PRNewswire) - In the news release, "Amsterdam Court of Appeals Sets Date for Hearing With  Respect to Shell Securities Class Settlement of Reserve-Related Claims With  European and Other Non US Investors" issued on 11 Apr 2008 05:30 GMT, by Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc  over PR Newswire, we are advised that the source of the press release should  have read Stichting Shell Reserves Compensation Foundation and Royal Dutch  Shell plc rather than Stitching Shell Reserves Compensation Foundation as  incorrectly transmitted by PR Newswire.    Complete, corrected release follows:

    Shell (i), Stichting Shell Reserves Compensation Foundation (the

    Foundation), VEB (the Dutch Shareholders Association), APG, All Pensions

    Group (on behalf of pension fund ABP) and PGGM (on behalf of Stichting

    Pensioenfonds Zorg en Welzijn) have announced that the Amsterdam Court of

    Appeals (the Court) has scheduled a hearing on 20 November 2008 with respect

    to their request for a binding declaration of their settlement agreement

    concerning reserve-related claims. This settlement agreement provides relief

    in the amount of US$352.6 million to qualifying non-U.S.-shareholders who

    bought Shell shares on any stock exchange outside the United States between

    April 8, 1999 and March 18, 2004 (the European settlement).

    The European settlement was originally reached and announced in April

    2007. The parties opted to wait to file an amended petition until a

    U.S.-court ruled on Shell's position that the Court did not have jurisdiction

    to consider the claims of non-U.S. shareholders in the pending U.S. class

    action based upon the same reserves issues.

    Theo Raaijmakers, chairman of the Foundation's Board: "In the past months

    the support for the European settlement has continued to increase. After the

    non-U.S. investors of Shell were excluded from the U.S. case, the parties to

    the European settlement finalized an amended petition so that additional

    details respecting the settlement could be provided to the Dutch court. Now

    that the Court has set a date for the hearing, the parties will provide

    notice of the settlement and of the hearing to non-U.S. investors."

    On March 6, 2008 Shell announced the settlement in principle of

    reserve-related claims with U.S. investors providing, among other relief, a

    base settlement amount of US$82.85 million to resolve the securities class

    action pending in the U.S., from which the non-U.S. shareholders were

    excluded in January. The parties in the U.S. class action have not yet

    finalized this U.S. settlement, nor sought court approval. After finalization

    and court approval, the U.S. settlement would have an effect on the European

    settlement. The U.S. class and the participants in the European settlement

    collectively would receive an additional payment of US$35 million, to be

    divided in accordance with proportions determined in the two proposed

    settlements. In addition, Shell has agreed to pay interest on the European

    settlement amount effective April 1, 2008.

    About the Foundation

    The Stichting Shell Reserves Compensation Foundation (the Foundation) is

    a foundation representing all shareholders covered by the European settlement

    agreement. The Foundation's participants, which are all fully supporting the

    European settlement agreement, include 133 institutional investors (APG on

    behalf of pension fund ABP, PGGM on behalf of Stichting Pensioenfonds Zorg en

    Welzijn, DEKA, Norges, UBS and Morley, amongst others) as well as

    Euroshareholders, the confederation of European shareholders associations,

    and 18 other organizations representing individual shareholders from Belgium,

    France, Germany, Italy, Sweden, The Netherlands and a number of other

    countries. Together with Shell, APG, PGGM and the VEB (the Dutch Shareholders

    Association), the Foundation has requested that the Court declare this

    settlement binding. If the Court declares the settlement binding and the

    settlement agreement becomes final, it is the Foundation's task to distribute

    the settlement amounts to the investors that are entitled thereto.

    (i) The expression "Shell" as used in this release indicates the two

    former parent companies, i.e. The Shell Transport and Trading Company, Ltd.,

    (formerly: The "Shell" Transport and Trading Company, plc.) and Shell

    Petroleum N.V. (the successor company to Royal Dutch Petroleum Company).

    A copy of the amended petition should be available shortly on the

    Foundation website:

ots Originaltext: Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc
Im Internet recherchierbar:

For more information please contact: Stichting Shell Reserves
Compensation Foundation: Rob Okhuijsen, +31-6-26216773,; Shell Media Relations: The Netherlands and
European Press, +31-70-377-8750; London Media office,

Weitere Meldungen: Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc

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