Murphy Oil Corporation Donates Downtown Building to Tulane University

December 14, 2007

Mike Strecker
Phone: 504-865-5210

Murphy Building Corporation, a wholly-owned subsidiary of Murphy Oil Corporation (NYSE:MUR), donated the former Murphy Exploration Building and parking garage located at 131 South Robertson Street in downtown New Orleans to Tulane University today.

“We are overwhelmed by this generous donation,” Tulane University President Scott Cowen said. “This will allow us to expand and enhance our mission as a major  research university. This is the latest in a long legacy of support we have received from those affiliated with the Murphy Oil Corporation.”

Cathy Pierson, the former chair of the Board of Tulane and sister of Murphy Oil Corporation President and CEO Claiborne P. Deming, was instrumental in securing the donation.

“Throughout its history Murphy Oil Corporation has been actively involved in enhancing education on all levels.  The donation of this building continues this tradition while offering Tulane University an excellent facility and opportunity to expand. I greatly appreciate the commitment and generosity of the Murphy Oil Corporation leadership,” Pierson said.

Deming said Tulane was a perfect fit for the donation.

“We are pleased to donate the building to such a renowned educational institution as Tulane knowing the structure will be put to good use for years to come. We wish the university continued success in its extraordinarily important endeavor of educating America’s next generation of leaders,” he said.

The university will primarily use the building to continue the expansion of its School of Medicine, including administrative and educational offices, and a planned $5 million medical training simulation center, which will be one of the few such medical resources in the country.

Tulane offices should begin occupying the building during the first quarter of 2008. The Murphy Exploration Building, a 15-story, 204,500-square-foot office building, was constructed in 1983 and has been significantly renovated over the years. A parking garage with a capacity of 233 cars adjoins the building.

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Tulane University, New Orleans, LA 70118 504-865-5000