PAGE 6                 EXHIBIT 99-2.


                      MOBIL CORPORATION RENEWS
                PREFERRED SHARE PURCHASE RIGHTS PLAN

FAIRFAX, VA, Dec. 15, 1995 -- Mobil Corporation announced today
that its board of directors has approved an updated Preferred
Share Purchase Rights Plan to replace the current plan when it
expires April 30, 1996. The plan is designed to ensure that Mobil
shareholders receive fair and equal treatment in the event of a
proposed takeover.
     In announcing the board decision, Lucio A. Noto, chairman
and chief executive officer of Mobil, said, "The Board of
Directors of Mobil considers the Preferred Share Purchase Rights
Plan to be the best available means of protecting the rights of
the stockholders to retain their equity investment in the
company, or to realize the full value of that investment in the
event of a fair acquisition bid for the company." Mr. Noto added
that the adoption of the new rights plan is not in response to
any specific effort to acquire control of the company and that
the board of directors is not aware of and does not anticipate
any such action.
     To implement the plan, the Mobil board today authorized the
issuance of one new Preferred Share Purchase Right on each
outstanding share of common stock. The rights will be issued on
April 29, 1996, to stockholders of record at close of business on
that date. The rights distribution will not be taxable to
stockholders.
     The new rights will be exercisable only if a person or group
acquires 15% or more of Mobil's common stock or announces or
commences a tender offer that would result in ownership of 15% or
more of Mobil's outstanding common stock.  Mobil's board is
authorized to reduce the threshold to not less than 10%.
     A summary of the updated rights plan will be sent to
stockholders in May. The rights will expire April 30, 2006.

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