ROYAL DUTCH/SHELL GROUP OF COS 4TH QTR NET

  Shr Royal Dutch Petroleum Co &lt;RD> 2.30 dlrs vs 2.90 dlrs
      Final Royal Dutch dividend of 8.30 guilders for total 12.80
  guilders vs 12.80 guilders for 1985
      Shr Shell Transport and Trading Co PLC &lt;SC> 1.38 dlrs vs
  1.65 dlrs
      Final Shell Transport dividend 118.0 pence for total of
  172.0 pence vs 140.0 pence for 1985
      Group Net 1.07 billion vs 1.24 billion
      Group Sales 20.42 billion vs 25.84 billion
      Year
      Shr Royal Dutch 8.65 dlrs vs 9.11 dlrs
      Net Shell Transport 4.78 dlrs vs 5.16 dlrs
      Group Net 3.71 billion vs 3.88 billion
      Group Sales 81.40 billion vs 94.57 billion
      NOTES: Group is 60 pct owned by Royal Dutch and 40 pct by
  Shell Transport
      Dollar amount of Royal Dutch dividend will depend on
  guilder/dollar exchange rate on May 14. Final dividend is
  payable June 16 to holders of record May 26
      Shell Transport dividend and per share results based on New
  York shares, which are equal to four ordinary shares. Dollar
  final dividend will be determined by sterling/dollar exchange
  rate May 18. At current rate, with tax credits, is equal to
  2.59 dlrs. Final dividend is payable May 28 to holders of
  record April 10
      Fourth quarter U.S. dollar figures for group translated
  from sterling at average rate of exchange for the quarter which
  was 1.43 dlrs per pound in 1986 and 1.44 dlrs in 1985. Full
  year U.S. dollar figures are sum of sterling translations to
  U.S. dollars for first, second, third and fourth quarters
      Net includes FIFO inventory gain 217 mln dlrs vs loss 80
  mln dlrs in quarter and loss 1.23 billion dlrs vs loss 178 mln
  dlrs in year. If LIFO accounting had been used, company said,
  Royal Dutch per share net would have been 1.78 dlrs vs 3.17
  dlrs in quarter and 11.60 dlrs vs 9.53 dlrs in year, Shell
  Transport per share net would have been 1.10 dlrs vs 1.81 dlrs
  in quarter and 6.36 dlrs vs 5.40 dlrs in year
      Net includes restructuring credit 114 mln dlrs vs charge 72
  mln dlrs in quarter and credit 67 mln dlrs vs charge 467 mln
      Per share impact of restructuring on Royal Dutch was credit
  27 cts vs charge 17 cts in quarter and credit 16 cts vs charge
  1.10 dlrs in year, on Shell Transport was credit 15 cts vs
  charge 10 cts in quarter and credit nine cts vs charge 62 cts
  in year
      Net also includes currency exchange losses of 20 mln dlrs
  vs 69 mln dlrs in quarter and 170 mln dlrs vs 401 mln dlrs in
  year. Exchange losses had per share impact on Royal Dutch of 14
  cts vs 31 cts in quarter and 96 cts vs 1.26 dlrs in year and on
  Shell Transport of eight cts vs 17 cts in quarter and 51 cts vs
  71 cts in year.
  

