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01 August 2007

ExxonMobil and NTUC FairPrice celebrate the successful completion of alliance roll-out in Singapore

- Alliance the First to Implement 150sqm Big Box Format and Achieves 24% Increase in Sales with Wider Range of Products & Services

Singapore, August 1, 2007 – ExxonMobil Asia Pacific Pte. Ltd. (ExxonMobil) and NTUC Fairprice Co-operative Ltd. (NTUC FairPrice) are pleased to announce the successful completion of the alliance roll-out. All 74 Esso and Mobil service stations in Singapore are now operated by NTUC FairPrice, with FairPrice Xpress and Cheers stores to deliver greater value and convenience to their customers.

One of the significant initiatives which the Alliance has successfully implemented is its “Big Box” convenience store concept with a retail floor area of 150 sqm.  This industry-first initiative was made possible when the Urban Redevelopment Authority relaxed the retail quantum in petrol stations in November 2006.  At 150 sqm, these “Big Box” stores branded as FairPrice Xpress are almost twice the size of a conventional petrol-mart.  There are currently 19 FairPrice Xpress stores, with most of them in the “Big Box” format.  The increased retail space has allowed customers to shop in comfort and enjoy greater value and convenience of having 50% more products to choose from.

The Alliance between Singapore’s largest supermarket chain and largest petrol station network is an industry first, and it has proven to be a success. Customers are satisfied with the wider range of products and services provided, and this is reflected in the average increase in convenience store sales by 24%.

“We entered this collaboration with the view to deliver the value and convenience that customers have come to expect from NTUC FairPrice, through ExxonMobil’s extensive network of petrol stations. At some of the bigger stores, customers can now look forward to a wider range of products such as organic products, popular Australian, Japanese and Korean products, wines, pre-packed products like hams and sausages, and many more new magazine titles. We have also introduced new and innovative services in some outlets, including laundry service, freshly brewed gourmet coffee, and call-to-order food service. With our strength in food supply chain and the economies of scale we bring to the Alliance, we are able to provide an edge in offering the most competitive prices among petrol marts in Singapore,” said Mr Ng Ser Miang, Chairman of NTUC FairPrice.

“We pioneered the alliance concept in fuels retailing in Singapore and now we have successfully rolled-out round-the-clock grocery shopping in all corners of Singapore with our network of 74 Esso and Mobil service stations.  The alliance with NTUC FairPrice has allowed our two companies to harness the scale of operations to be more efficient and provide a better and wider range of products and services to our customers. NTUC FairPrice and ExxonMobil are committed to continue to set new standards for the fuels retail industry in Singapore,” said Mr Kwa Chong Seng, Chairman and Managing Director, ExxonMobil Asia Pacific Pte Ltd.

Currently, customers enjoy quality fuels and greater shopping convenience 24 hours-a-day, 7 days-a-week. Besides being the top-up destination for daily groceries, hot foods and fresh items, the Alliance stores also provide customers easy access to DBS ATMs installed in almost every store. AXS services and Singapore Pools counters are available at selected service stations.

As part of our effort to highlight the convenience of having DBS ATMs installed at our stores, ExxonMobil, FairPrice and DBS Bank will jointly offer a special promotion from 1 September to 30 November 2007.  Customers who withdraw cash at any of the DBS ATMs located at the Esso and Mobil service stations during this period will get one chance each time, up to a maximum of once a day, to enter a lucky draw.  Ten winners will be picked on 14 December 2007 and each winner will receive $2,000 worth of Esso and FairPrice vouchers. 

To deliver more value and help customers cushion the impact of the recent GST hike, FairPrice Xpress has been absorbing the 2% GST increase for 100 top-selling items since July 1, 2007. FairPrice Xpress will absorb the GST increase for a period of six months.

ExxonMobil and FairPrice rolled out their Alliance in the first quarter of 2006 following the successful implementation of the pilot phase of the Alliance. The service stations and stores have been spruced up at a total cost of S$30 million to enhance customers' fuels and grocery retail experience.

-End-

About ExxonMobil Asia Pacific Pte. Ltd.

ExxonMobil operates the Singapore Refinery and Singapore Chemical Plant. Together they form our largest integrated manufacturing site in Asia. ExxonMobil is one of Singapore’s largest foreign investor. ExxonMobil operates the largest network of 74 Esso and Mobil service stations in Singapore and is a major manufacturer and marketer of high quality lubricants.

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