Fourth Quarter Twelve Months
2008 2007 % 2008 2007 %
Net Income
$ Millions 7,820 11,660 -33 45,220 40,610 11
$ Per Common Share Assuming Dilution 1.55 2.13 -27 8.69 7.28 19
Special Items $ Millions 0 0 1,160 0
Earnings Excluding Special Items
$ Millions 7,820 11,660 -33 44,060 40,610 8
$ Per Common Share Assuming Dilution 1.55 2.13 -27 8.47 7.28 16
Capital and Exploration Expenditures - $ Millions 6,829 6,151 11 26,143 20,853 25

EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED:
"ExxonMobil’s full year 2008 earnings excluding special items were a record
$44,060 million, up 8% from 2007. Earnings per share excluding special items were up 16% reflecting the benefit of the share purchase program. Net income of $45,220 million in 2008 was also a record, up 11% from 2007. Net income included an after-tax special gain of $1,620 million from the sale of a natural gas transportation business in Germany and after-tax special charges of $460 million related to the Valdez litigation.
ExxonMobil’s financial strength continued to support its disciplined capital investment approach in the midst of a growing global economic slowdown. Capital and exploration project spending increased to $26.1 billion in 2008, up 25% from 2007. Through these investments we continued to demonstrate our long-term focus throughout the business cycle.
The Corporation distributed a total of $40.1 billion to shareholders in 2008, up 12% or $4.4 billion from 2007. This reflects a 13% increase in per share dividends versus 2007 and an overall reduction in shares outstanding of 7.5%.
ExxonMobil’s fourth quarter earnings excluding special items were $7,820 million, a decrease of 33% from the fourth quarter of 2007. Weaker crude oil prices, higher operating expenses, lower chemical volumes and the impact of the Gulf Coast hurricanes were partly offset by higher downstream margins.”

FOURTH QUARTER HIGHLIGHTS
• Net income was $7,820 million, a decrease of 33% or $3,840 million from the fourth quarter of 2007. Earnings were $570 million lower due to damage repairs and lower volumes associated with Hurricanes Gustav and Ike.
• Earnings per share were $1.55, a decrease of 27%.
• Capital and exploration expenditures were $6.8 billion, up 11% from the fourth quarter of 2007.
• Oil-equivalent production decreased 3% from the fourth quarter of 2007. Excluding the impacts of lower entitlement volumes, OPEC quota effects and divestments, production was down about 1%.
• Share purchases of $8.0 billion reduced shares outstanding by 2.2%.
• Cash flow from operations and asset sales was approximately $12.2 billion, including asset sales of $1.8 billion.
• ExxonMobil started up the offshore facilities for the Qatargas II Train 4 LNG project in Qatar. Commissioning activities are continuing onshore, and first LNG from the project is anticipated in the first quarter of 2009.
• Commissioning of ExxonMobil’s South Hook LNG Terminal in the United Kingdom
progressed in the fourth quarter, with initial LNG receipt and processing expected in the first quarter.
• ExxonMobil announced it will invest more than $1 billion in three refineries in the U.S. and Europe to increase the supply of cleaner burning diesel by about six million gallons per day. The increased diesel production at these three sites will be equivalent to the diesel produced from about four average-sized refineries and underscores the company's ongoing commitment to meet the growing needs of the marketplace while providing cleaner burning fuels to consumers.
More info on: http://www.exxonmobil.com/Corporate/Files/news_release_earnings4q08.pdf