St. Mary Announces Retirement of Thomas E. Congdon as Board Chairman

Business Wire, Sept 20, 2002

Business Editors

DENVER--(BUSINESS WIRE)--Sept. 20, 2002

St. Mary Land & Exploration Company (Nasdaq:MARY) announced today that Thomas E. Congdon, 76, retired yesterday as its Chairman of the Board of Directors. Mr. Congdon will continue to serve the Company as a Board member.

The Company also announced that Mark A. Hellerstein was elected Chairman of the Board. Mr. Hellerstein will assume the Chairman's duties in addition to his current duties as President and Chief Executive Officer of the Company.

"Tom has been an officer or Chairman of St. Mary since he moved the Company to Denver in 1966. Under his guidance, St. Mary has transformed itself from a royalty distribution company to a passive oil and gas and real estate investment vehicle to a fully operating public oil and gas company. Few companies, regardless of their greatness, survive for 94 years, let alone are currently listed by Fortune magazine as one of the ten fastest growing companies in America. His leadership and vision have been vital to the success we have enjoyed. We are pleased that Tom will remain on the Board and we look forward to his continued involvement in the Company for many years to come," said Mr. Hellerstein.