This summary is based on the second quarter earnings call conducted by ExxonMobil (XOM: chart) on July 26, 2007.

Executives:
Henry Hubble - VP IR & Secretary

Key Investors Issues

- Earnings were $10.36 billion down from $10.26 billion a year ago.
- Earnings per share increased 6% from a year ago to $1.83.
- Dividends paid amounted to $2 billion
- Cash flow from operations and asset sales was approximately $12.5 billion, including asset sales of $1.2 billion.
- Liquids production increased by 5%.

Second Quarter Highlights

- Earnings per share rose 6% from a year ago reflecting the strong earnings and the continuing benefits of ongoing share purchase program.
- Shares outstanding fell 1.5% following the purchase of $7 billion of shares in excess of dilution.
- Shareholders received $9 billion through dividends and share repurchases.

Upstream earnings were $5.95 billion, down $1.18 billion in 2006 due to reduced worldwide natural gas realizations.

- Worldwide crude realizations were $65.11 per barrel, up 21 cents per barrel from 2006. - Production was up 4% driven by increased volumes for major project ramp ups in Russia, West Africa, and Qatar.
- Liquids production fell by 34,000 barrels per day, or 1% from the same quarter in 2006 due to entitlement and OPEC quota effects in Africa.
- Gas volumes were unchanged at 8,711 mcfd (millions of cubic feet per day) with lower demand in Europe due to warmer weather and natural field decline.

The Venezuelan government took over the Serene rural producing assets worth $750 million.

Discussions on compensation are still ongoing. The resolution is not likely to have a material effect on the corporations, operations or financial condition.

Downstream earnings rose by $910 million in 2006 to $3.4 billion driven by higher refining and marketing margins and the sale of the Ingolstadt refinery in Germany.

- Volume mix effects were positive $190 million, reflecting feedstock flexibility and product optimization programs.
- Gasoline production in the U.S. is up 5% versus last year.
- Petroleum product sales were 6,974 kbd, 86 kbd lower than the 2006 second quarter.

Chemical earnings increased by $175 million to $1.01 billion reflecting increased realizations.

Prime product sales of 6,897 kt (thousands of metric tons) were up 42 kt from the prior year.

Corporate and financing expenses remained unchanged from the second quarter of 2006 at $99 million.

- Shareholders received $9 billion through dividends and share purchases.
- The number of shares outstanding fell 1.5% following the purchase of $7 billion of shares in excess of dilution.
- CapEx stood at $5 billion with a cash balance of $33.6 billion and debt of $8.8 billion.

Mobile Pegasus 1005, a high performance lubricant with advanced additive technology was introduced in June.

- Announced the planned expansion of hydrocarbon fluids capacity at Antwerp and Singapore facilities adding 700,000 tons and 130,000 tons per year respectively.
- In Japan, an ExxonMobile affiliate is now producing innovative microporous films for hybrid and electric vehicle lithium ion batteries.
- ExxonMobile Chemical also earned awards for energy efficiency from the American Chemistry Council and from the Industrial Energy Technology Conference.

Key questions and answers from the first quarter earnings call conducted by ExxonMobil. (XOM: chart) on July 26, 2007.

Doug Terreson (Morgan Stanley): Explain the divergence in figures for refining and marketing outside?

Henry Hubble: It is mostly turnaround timing.

Doug Terreson (Morgan Stanley): Can you provide an update on some of the inflation trends that the Company is experiencing?