EXHIBIT 99.1

EXXON MOBIL CORPORATION ANNOUNCES ESTIMATED

FIRST QUARTER 2008 RESULTS

EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED:

"ExxonMobil's first quarter net income was a record $10,890 million, up 17% from the first quarter of 2007.  Earnings per share were up 25% reflecting the impact of the continuing share purchase program.  Higher crude oil and natural gas realizations, driven by record worldwide crude oil prices, were partly offset by lower refining and chemical margins, lower production volumes and higher operating costs.

Spending on capital and exploration projects was $5.5 billion in the first quarter, up 30% from last year, as we continued to actively invest in projects to bring additional crude oil, natural gas and finished products to market.  

Share purchases to reduce shares outstanding were increased to $8.0 billion in the first quarter of 2008.  The Corporation distributed a total of $9.9 billion to shareholders during the quarter through dividends and share purchases to reduce shares outstanding, an increase of 13% or $1.1 billion versus the first quarter of 2007.”

FIRST QUARTER HIGHLIGHTS

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Record first quarter net income was $10,890 million, up 17% from the first quarter of 2007.  

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Earnings per share were up 25% to $2.03 reflecting strong earnings and the reduced number of shares outstanding.

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Spending on capital and exploration projects was $5.5 billion, up 30% from the first quarter of 2007.

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Cash flow from operations and asset sales was approximately $21.8 billion, including asset sales of $0.4 billion.

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Share purchases of $8.0 billion reduced shares outstanding by 1.8%.

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The ExxonMobil-operated Kizomba C deepwater development started production from the Mondo field in January 2008, 23 months after project approval.  Kizomba C is designed to develop 600 million barrels of oil (gross) from the Mondo, Saxi and Batuque fields off the coast of Angola, utilizing two new floating production, storage, and offloading (FPSO) vessels.  The Saxi and Batuque fields are expected to begin production later in 2008, and combined peak production from the three fields is expected to reach 200,000 barrels of oil per day (gross).  

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ExxonMobil and Malaysia’s national oil company, PETRONAS, signed the main principles agreement for a new 25 year production sharing contract (PSC), to further develop petroleum resources offshore Peninsular Malaysia.  The contract includes commitments to implement significant enhanced oil recovery activities and for major investments to continue conventional oil development.

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First Quarter 2008 vs. First Quarter 2007

Upstream earnings were $8,785 million, up $2,744 million from the first quarter of 2007. Record high crude oil and natural gas realizations increased earnings approximately $4.4 billion.  Volume and mix effects decreased earnings about $800 million, as increased natural gas volumes were more than offset by lower crude oil volumes.  Higher taxes, increased operating costs and lower gains on asset sales decreased earnings approximately $900 million.

On an oil-equivalent basis, production decreased 5.6% from the first quarter of 2007.  Excluding the Venezuela expropriation, divestments, OPEC quota effects and price and spend impacts on volumes, production was down 3%.

Liquids production totaled 2,474 kbd (thousands of barrels per day), down 272 kbd from the first quarter of 2007.  Excluding the Venezuela expropriation, divestments, OPEC quota effects and price and spend impacts on volumes, liquids production was down 6%.  Increased production from projects in west Africa and the North Sea was more than offset by mature field decline, PSC net interest reductions and maintenance activities.

First quarter natural gas production was 10,246 mcfd (millions of cubic feet per day), up 132 mcfd from 2007.   Higher European demand and North Sea project additions were partly offset by mature field decline.   

Earnings from U.S. Upstream operations were $1,631 million, $454 million higher than the first quarter of 2007.  Non-U.S. Upstream earnings were $7,154 million, up $2,290 million from 2007.

Downstream earnings of $1,166 million were $746 million lower than the first quarter of 2007.  Significantly lower worldwide refining margins decreased earnings approximately $1.0 billion, while improved refinery operations increased earnings about $350 million.  Petroleum product sales of 6,821 kbd were 377 kbd lower than last year's first quarter, mainly reflecting asset sales.

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U.S. Downstream earnings were $398 million, down $441 million from the first quarter of 2007.  Non-U.S. Downstream earnings of $768 million were $305 million lower.

Chemical earnings of $1,028 million were $208 million lower than the first quarter of 2007.  Lower margins, which decreased earnings approximately $350 million, were partly offset by favorable foreign exchange and tax effects.  Prime product sales of 6,578 kt (thousands of metric tons) in the first quarter of 2008 were 227 kt lower than the prior year.

Corporate and financing expenses were $89 million, up $180 million, mainly due to higher corporate costs and tax items.

During the first quarter of 2008, Exxon Mobil Corporation purchased 110 million shares of its common stock for the treasury at a gross cost of $9.5 billion.  These purchases included $8.0 billion to reduce the number of shares outstanding, with the balance used to offset shares issued in conjunction with the company's benefit plans and programs.  Shares outstanding were reduced from 5,382 million at the end of the fourth quarter to 5,284 million at the end of the first quarter.  Purchases may be made in both the open market and through negotiated transactions, and may be increased, decreased or discontinued at any time without prior notice.

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ExxonMobil will discuss financial and operating results and other matters on a webcast at 10 a.m. Central time on May 1, 2008.  To listen to the event live or in archive, go to our website at exxonmobil.com.

Statements in this release relating to future plans, projections, events or conditions are forward-looking statements.  Actual results, including project plans, capacities, and timing and resource recoveries, could differ materially due to changes in long-term oil or gas prices or other market conditions affecting the oil and gas industry; political events or disturbances; reservoir performance; the outcome of commercial negotiations; wars and acts of terrorism or sabotage; changes in technical or operating conditions; and other factors discussed under the heading "Factors Affecting Future Results" on our website and in Item 1A of ExxonMobil's 2007 Form 10-K.  We assume no duty to update these statements as of any future date.  References to quantities of oil expected to be developed may include amounts not yet classified as proved reserves but that we believe will ultimately be produced.

Consistent with previous practice, this press release includes both earnings excluding special items and earnings per share excluding special items.  Both are non-GAAP financial measures and are included to help facilitate comparisons of base business performance across periods.  A reconciliation to net income is shown in Attachment II.  The release also includes cash flow from operations and asset sales.  Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider sales proceeds together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities.  A reconciliation to net cash provided by operating activities is shown in Attachment II.  Further information on ExxonMobil's frequently used financial and operating measures and other terms is contained under the heading "Frequently Used Terms" available through the Investor Information section of our website at exxonmobil.com.

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