ConocoPhillips Announces Future Executive Appointments of Phillips 66

ConocoPhillips (NYSE:COP) today announced several future appointments to
the executive management team of Phillips 66, the independent downstream
company, which will become effective once the company′s strategic
repositioning is complete in the second quarter of 2012.

Greg Garland, designated chairman and chief executive officer of
Phillips 66, has named three additional members of his executive
management team.

Greg Maxwell will become chief financial officer, Phillips 66. Maxwell
currently serves as senior vice president, chief financial officer and
controller of Chevron Phillips Chemical Company. Prior to joining
Chevron Phillips Chemical in 2000, he held several senior positions with
Phillips Petroleum Company (now ConocoPhillips).

Tim Taylor will lead commercial, marketing, transportation and business
development for Phillips 66. Taylor recently announced his retirement as
chief operating officer for Chevron Phillips Chemical. Prior to that
position, Taylor also held senior positions in Phillips Petroleum
Company (now ConocoPhillips).

Chantal Veevaete will lead human resources for Phillips 66. Veevaete is
currently vice president, human resources for Chevron Phillips Chemical.
Prior to her current role, Veevaete was vice president, human resources,
for the Accredo division of Medco Health Solutions.

Taylor will join ConocoPhillips in January 2012 and Maxwell and Veevaete
will join the company in February 2012. The three will serve in interim
roles, reporting to Garland, until the repositioning is complete.

'These individuals bring a wealth of industry experience, credibility
and leadership skills to Phillips 66,? said Garland. 'I am confident
that the management team we are building for Phillips 66 will provide
the vision and strategic insight necessary to enable us to excel in our
new peer group.?

Phillips 66, the independent downstream company, will have leading
businesses in refining, marketing, midstream and chemicals.

ConocoPhillips′ repositioning into two independent companies is subject
to market conditions, customary regulatory approvals, the receipt of an
affirmative ruling from the U.S. Internal Revenue Service, the execution
of separation and intercompany agreements and final board approval.

ConocoPhillips is an integrated energy company with interests around the
world. Headquartered in Houston, the company had approximately 29,700
employees, $155 billion of assets, and $247 billion of annualized
revenues as of Sept. 30, 2011. For more information, go to www.conocophillips.com.

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OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements.
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future events or otherwise.

ConocoPhillips

Aftab Ahmed, 281-293-4138 (media)

aftab.ahmed@conocophillips.com

or

Clayton
Reasor, 212-207-1996 (investors)

c.c.reasor@conocophillips.com