ConocoPhillips Announces Executive Appointments

ConocoPhillips [NYSE:COP] today announced additional appointments to the
executive management teams for the two leading energy companies that
will be created when ConocoPhillips completes its strategic
repositioning, expected in the second quarter of this year.

Phillips 66, the future independent downstream company, named C.C.
(Clayton) Reasor as vice president, Investor Relations, Strategy and
Corporate Affairs. The new ConocoPhillips, an independent, pure-play
exploration and production company, named Ellen R. DeSanctis as vice
president, Investor Relations.

Reasor has more than 30 years experience in the oil and gas industry. He
began his career with Phillips Petroleum Company and has held positions
of increasing responsibility including president, U.S. Marketing. Reasor
is currently vice president, Corporate and Investor Relations, for
ConocoPhillips.

'Clayton has a wealth of knowledge and experience that will help us
advance our strategy to grow Phillips 66 into an industry leading
downstream company,? said Greg Garland, designated chairman and chief
executive officer for Phillips 66, which will have leading businesses in
refining, marketing, midstream and chemicals.

DeSanctis joins ConocoPhillips having most recently served as senior
vice president, Corporate Communications, for Petrohawk Energy in
Houston. She has more than 30 years in the oil and gas industry,
including 15 years leading integrated corporate communication programs
and investor relations.

'Ellen knows our company, she knows our stakeholders and she is a proven
leader in our industry,? said Ryan Lance, designated chairman and chief
executive officer of the future ConocoPhillips. 'Her leadership will
help us connect with investors as we establish a unique type of
independent upstream company.?

ConocoPhillips′ repositioning 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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variety of risks and other matters including, but not limited to,
changes in commodity prices and refining and marketing margins; changes
in expected levels of oil and gas reserves or production; operating
hazards, drilling risks, unsuccessful exploratory activities;
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company manufacturing or refining facilities; unexpected difficulties in
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or significantly higher cost of capital related to illiquidity or
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well as changes in tax, environmental and other laws applicable to our
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materially from those described in the forward-looking statements
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ConocoPhillips undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.

ConocoPhillips

John Roper, 281-293-2073 (media)

john.roper@conocophillips.com