Exhibit 1


                       AMENDMENT TO RIGHTS AGREEMENT

            Amendment, dated as of December 1, 1998 (the "Amendment"),
between MOBIL CORPORATION, a Delaware corporation (the "Company"), and
MELLON BANK, N.A., as rights agent (the "Rights Agent").

            WHEREAS, the Company and the Rights Agent entered into a Rights
Agreement, dated as of December 15, 1995 (the "Rights Agreement");

            WHEREAS, there is not as of the date hereof any Acquiring
Person (as defined in the Rights Agreement); and

            WHEREAS, the Company desires to amend the Rights Agreement in
accordance with Section 27;

            NOW, THEREFORE, in consideration of the premises and mutual
agreements set forth in the Rights Agreement and this Amendment, the
parties hereby agree as follows:

            Section 1. Amendment to Definition of "Acquiring Person."
Section 1(a) of the Rights Agreement is amended to add the following
sentence after the last sentence thereof: "Notwithstanding the foregoing,
neither Exxon Corporation ("Exxon") nor any of its Affiliates shall become
an Acquiring Person as a result of the execution of the Agreement and Plan
of Merger, dated as of December 1, 1998 by and among Exxon, Lion
Acquisition Subsidiary Corporation and the Company (as the same may be
amended from time to time, the "Merger Agreement"), the execution of the
Stock Option Agreement, dated as of December 1, 1998 by and among Exxon and
the Company (as the same may be amended from time to time, the "Option
Agreement") or consummation of the transactions contemplated thereby
pursuant to the terms of the Merger Agreement and the Option Agreement, as
the case may be."

            Section 2. Amendment to Section 7(a). Section 7(a) of the
Rights Agreement is amended by deleting the word "or" immediately preceding
clause (iii) and replacing such word with "," and by adding the following
at the end of clause (iii): "or (iv) the Effective Time of the Merger. For
purposes of clause (iv) above, "Effective Time of the Merger" shall mean
such time as a certificate of merger (the "Merger Certificate") is duly
filed with the Secretary of State of the State of Delaware pursuant to
Section 1.01(b) of the Merger Agreement or at such later effective time as
is specified in the Merger Certificate."

            Section 3. Rights Agreement as Amended. The term "Agreement" as
used in the Rights Agreement shall be deemed to refer to the Rights
Agreement as amended hereby. The foregoing amendments shall be effective as
of the date hereof and, except as set forth herein, the Rights Agreement
shall remain in full force and effect and shall be otherwise unaffected
hereby.

            Section 4. Counterparts. This Amendment may be executed in any
number of counterparts, and each of such counterparts shall for all
purposes be deemed an original, but all such counterparts shall together
constitute but one and the same instrument.

            Section 5. Governing Law. This Amendment shall be deemed to be
a contract made under the laws of the State of Delaware and for all
purposes shall be governed by and construed in accordance with the laws of
such State applicable to contracts made and to be performed entirely within
such State.

            Section 6. Descriptive Headings. Descriptive headings of the
several Sections of this Agreement are inserted for convenience only and
shall not control or affect the meaning or construction of any of the
provisions hereof.


                                   * * *


            IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed as of the day and year first above written.


Attest:                               MOBIL CORPORATION


/s/ Samuel H. Gillespie III           By  /s/ Lucio A. Noto
- -------------------------------          -----------------------------------
Name:  Samuel H. Gillespie III           Name:  Lucio A. Noto
Title: Senior Vice President             Title: Chairman and Chief Executive
          and General Counsel                      Officer


Attest:                               MELLON BANK, N.A.
                                         as Rights Agent


 /s/ Hugh M. Ross                         /s/ Barbara Y. Hall
______________________________        By ___________________________________
Name:  Hugh M. Ross                      Name:  Barbara Y. Hall
Title: Associate Counsel                 Title: Group Vice President