Disposal Agreement

Total Fina Elf.
22 May 2000

                     TOTAL FINA ELF ANNOUNCES AGREEMENT 
                  FOR DISPOSAL OF SOME US DOWNSTREAM ASSETS

Paris, May 22, 2000 - TotalFinaElf has announced an agreement for the disposal
of some downstream activities in the US to the Israeli oil company Alon Israel.
These include its Big Spring refinery in Texas and related fuels pipeline and
terminal assets and the Fina branded service station network.

The Big Spring refinery has been in service for over 70 years converting mainly
crude oil from the Permian Basin. Daily capacity is currently around 60,000
barrels for an annual production of three million tons of fuel products and
asphalt intended for the southwestern US. Big Spring can be supplied with crude
from the Gulf of Mexico coast through the Amdel pipeline. It has interest and
access rights in several petroleum products transportation networks serving the
southwestern region. In addition to these activities, the agreement calls for
the disposal of marketing assets which include 1,700 Fina branded service
stations in the southwestern US.

The definitive agreement is expected to be complete in July of this year.

These disposals come within the framework of the Group's strategy announced at
the time of the merger between Total and Petrofina in 1999. It shows the Group's
willingness to rationalize its downstream activities in the US by concentrating
on large-size assets with low breakeven costs. These disposals follow the sale
by Total of US refining and marketing activities to Ultramar Diamond Shamrock in
1997.

In the US, TotalFinaElf will continue to be present in downstream through its
refinery at Port Arthur, Texas, which has a current refining capacity of 175,000
barrels a day. Benefiting from the latest technologies, the Port Arthur refinery
is located in the heart of a petroleum region of primary importance and also has
the advantage of being strongly integrated into important basic petrochemical
activities which are in full expansion.

In addition, the Group has quality specialty chemicals positions in the US and
is actively pursuing its exploration-production operations in the Gulf of Mexico
where it holds quality acreage of approximately 180 blocks in deep offshore
areas. 


Media contacts:
Thomas Saunders   (33.1) 47.44.42.30