Petroleum & Resources Declares Dividend
Petroleum & Resources Corporation


Baltimore, MD, January 14, 2010 -- The Board of Directors of Petroleum & Resources Corporation (NYSE: PEO) declared a dividend of $0.10 per share, payable March 1, 2010, to stockholders of record February 12, 2010, consisting of $0.01 investment income, $0.05 short-term capital gain, and $0.02 long-term capital gain, all realized in 2009, and $0.02 investment income realized in 2010.

Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol PEO.



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