Exhibit 99-1

CONTACT:  Christopher Springham, +1 703 846 2500 or
          Pat Hinton, + 61 3 9242 9488   


             AMPOLEX RECOMMENDS ACCEPTANCE OF INCREASED
               MOBIL BID OF A$4.64 PER ORDINARY SHARE


MELBOURNE, Australia - May 13, 1996 -- Mobil Exploration &
Producing Australia Pty Ltd (MEPA) announced today that it will
increase its takeover offer for the ordinary and preference shares
of Ampolex Limited to A$4.64 per ordinary share and A$4.66 per
preference share.  The Ampolex Board has separately announced that
it recommends that shareholders accept the increased offers. 
MEPA's offers for Ampolex shares and convertible notes value the
company at approximately A$1.78 billion (U.S.$ 1.4 billion).
     "We are very pleased to have the support of the Ampolex
Board," said Lee D. Entsminger, MEPA chairman and managing
director, "and we are confident that we will also secure the
support of the Ampolex shareholders."  Entsminger said that MEPA
would be meeting with major shareholders in the coming week.
     MEPA had originally offered A$4.25 per ordinary share and
A$4.27 per preference share.  MEPA's increased offer price of
A$4.64 per ordinary share and A$4.66 per preference share was
agreed in discussions over the weekend between representatives of
MEPA and Ampolex; the Ampolex Board has recommended acceptance of
the offer.
     Lucio A. Noto, chairman and chief executive officer of Mobil
Corporation said, "We are looking forward to increasing Mobil's
already substantial presence in Australia and to working with
Ampolex's management and employees over the years ahead.  Mobil's
acquisition of Ampolex will be a good investment for Mobil because
of the high quality of both the Ampolex people and the Ampolex
exploration and producing assets."

                              - more -

                                - 2 -

     In addition to supporting MEPA's increased offer price, the
Ampolex Board has agreed that Ampolex will not solicit or
encourage alternatives to MEPA's bid, nor provide any third party
with access to confidential data.  It will not sell any
significant asset.  Ampolex has also agreed to consult with MEPA
in relation to the convertible note litigation and any settlement
possibilities, and, as soon as MEPA has unconditionally acquired
50% of Ampolex's ordinary shares, to appoint Lee Entsminger and
Richard Pisarczyk, chairman and managing director of Mobil Oil
Australia Limited and a MEPA director, to the Ampolex Board.
     MEPA's offer for the Ampolex ordinary and preference shares,
originally scheduled to close on May 23, will now remain open
until 5:00 pm Melbourne time on May 27, 1996.
                                # # #             May 13, 1996



                                                Exhibit 99-2

CONTACT:  Gail Campbell Woolley or Christopher Springham,
          +1 703 846 2500

                       MOBIL BEGINS ENGINEERING
              FOR SAUDI PETROCHEMICALS COMPLEX EXPANSION

FAIRFAX, VA., May 13, 1996 -- Mobil Yanbu Petrochemical Company
Inc., a subsidiary of Mobil Corporation, announced today it has
reached an agreement with Saudi Basic Industries Corporation
(SABIC) to begin engineering for a major expansion of their 50-50
joint venture petrochemicals complex at Yanbu, Saudi Arabia.  The
project, expected to cost a total of about $2 billion (Mobil
share, $1 billion), will more than double the capacity of the
existing facility. 
     The expansion of the Saudi Yanbu Petrochemical Company
(Yanpet) facility will include the construction of an 800,000-
metric-ton-per-year ethylene cracker.  The plant will convert the
ethylene into 535,000 tons of polyethylene and 410,000 tons of
ethylene glycol.  In addition, 260,000 tons of polypropylene will
be produced.  When the expansion is completed, the Yanpet complex
will be one of the largest in the world -- producing more than 1.6
million metric tons of ethylene and more than two million metric
tons of derivative products annually.   
     "The initial Yanpet project has been an outstanding success
and we are delighted to join with SABIC as partners in the
expansion that will make this facility the world's lowest-cost
ethylene producer," said Mobil Chairman and Chief Executive
Officer Lucio A. Noto.
 
                               - 2 -

"Yanpet will realize significant capital and operating savings by
integrating the new cracker into the existing complex, and the
facility is ideally located to serve high-growth markets in the
Middle East, Africa and the Pacific Rim.
     Construction of the facility is expected to begin in 1997
with start-up scheduled for early 2000.
                                # # #                May 13, 1996