Kerr-McGee Acquisition FAQs 

As a result of the acquisition, Kerr-McGee common stock is no longer publicly traded. In accordance with the terms of the Agreement and Plan of Merger dated June 22, 2006, Kerr-McGee stockholders are entitled to receive $70.50 in cash, without interest, for each share of Kerr-McGee common stock.

If you own common shares through a broker, bank or other nominee, information regarding the exchange of those shares will be furnished to you by that entity.

You will be contacted by UMB Bank, the paying agent, who will provide instructions and Letter of Transmittal Form(s) about surrendering your stock certificates. You will receive cash for your shares from the paying agent after you comply with these instructions and complete the Letter of Transmittal Form(s).

If all of your shares are held in book entry form, these shares need not be submitted but the Letter of Transmittal Form(s) must be completed and returned to the paying agent.

You must surrender your certificate(s) before you can receive the cash to which you are entitled. Do not send your Letter of Transmittal Form(s) and certificates directly to Anadarko Petroleum, as this will only delay your receipt of the cash that you are entitled to receive.

Instructions regarding lost, missing or destroyed stock certificates will be provided in the Letter of Transmittal Form(s) being sent by UMB Bank.

Please contact the information agent, Morrow & Co., Inc., at 800-573-4397.

Stockholders are urged to consult with their tax advisors regarding the personal tax consequences of the acquisition, including the effects of United States federal, state and local, foreign and other tax laws. Generally the receipt of the cash payment for each share of common stock will be a taxable transaction for U.S. federal income tax purposes. In general, each stockholder will recognize a taxable gain or loss in the amount of the difference between the merger consideration and the stockholder's adjusted tax basis for each share of Kerr-McGee common stock the stockholder surrenders.

UMB Bank will process payments after all documents required to surrender your former shares of Kerr-McGee have been properly executed and received by UMB. We urge you to act promptly, because your Kerr-McGee certificate(s) now represent only the right to receive the amount of cash to which you are entitled, and no interest will accrue or be paid on such amount.