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The Carlyle Group And Sunoco Agree To Form Philadelphia Refinery Joint Venture

Forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond Sunoco’s control) that could cause actual results to differ materially from those discussed in this release. Such risks and uncertainties include: the ability of the parties to successfully form the proposed Philadelphia refinery joint venture and consummate the proposed transactions; the ability to obtain any requisite regulatory approvals; and the satisfaction of any other conditions to formation of the joint venture and consummation of any related transactions; the ability of the joint venture to realize anticipated synergies and cost savings; the potential impact of announcement of the agreement to form the joint venture (and undertake capital improvements at the Philadelphia refinery) on relationships, including with employees, suppliers, customers and competitors; the ability to achieve applicable refinery financial and operating targets; national, international, regional and local economic, competitive and regulatory conditions and developments; the competitiveness of alternate-energy sources or product substitutes; technological developments; and losses related to the acquisition, disposition or impairment of assets; significant investment or product changes and/or liability for remedial actions or assessments under existing or future environmental regulations; capital and credit markets conditions; inflation rates; interest rates; the political and economic stability of oil producing nations; energy markets, including changes in the price of certain commodities; changes in crude oil or natural gas prices, refining and marketing margins, or other market conditions affecting the oil and gas industry; weather conditions; environmental conditions; business and regulatory or legal decisions; liability resulting from pending or future litigation; the pace of deregulation of retail natural gas and electricity and certain agricultural products; the effects of changes in applicable accounting rules; changes in tax, environmental and other laws and regulations applicable to the refining business; the timing and success of business development efforts; wars and acts of terrorism or sabotage; the outcome of commercial negotiations; higher-than-expected costs of, or delays in, planned development or completion of repair projects, capital projects, acquisitions, or dispositions; operational interruptions, unforeseen technical difficulties and/or changes in technical or operating conditions. Unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements. Sunoco disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this document.

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