Elf Petroland, the Dutch oil and gas subsidiary of Elf Aquitaine (NYSE:ELF), announces an offshore gas discovery in the Dutch sector of the North Sea. This is Elf Petroland's second offshore gas discovery this year, following one made earlier in April on the neighboring Block K5a.

The discovery well was drilled on Block L4a and encountered hydrocarbons in the Rotliegend play at a depth of 4,036 meters. Tests showed a daily flow rate of 895,000 cubic meters.

Additional studies will be carried out in order to define the most efficient development scheme for the discovery.

In spite of unfavorable economic conditions, Elf Petroland has maintained its exploration program for 1999, with its efforts being rewarded by two successful gas discoveries this year.

Elf Petroland is the group's leading gas producing subsidiary and is the second largest operator in the Netherlands.

Through the discovery of new reserves, Elf Petroland is continuing to strengthen the gas potential for the Elf Group which is carrying out other large offshore exploration and development operations in northern Europe.

Partners in the L4a production license are:

Elf Petroland B.V., the operator 37.11%

Energie Beheer Nederland B.V. 40.00%

Total Oil and Gas Nederland 18.55%

Coparex Netherlands 4.34%