Subsid's Disposal

Total Fina Elf.
6 March 2003


               TotalFinaElf Sells Non-Core Gulf of Mexico Assets


Paris, March 6, 2003 - TotalFinaElf S.A. announces that its U.S. oil and gas
exploration and production subsidiary TotalFinaElf E&P USA, Inc. has contracted
to sell its interest in 13 non-core assets in the shallow water areas of the
Gulf of Mexico.


TotalFinaElf's share of production from these 13 fields is currently around
4,500 barrels of oil equivalent per day; the company was the operator on only
one of the fields. However, TotalFinaElf retains exploration rights for horizons
below current production depths in two of these assets.


The sale of these properties is in accordance with the company's strategy in the
Gulf of Mexico and Alaska of focusing exploration and production efforts on
prospects with high reserve potential. In line with this strategy, TotalFinaElf,
as operator, recently commenced production from the Aconcagua field in the
Mississippi Canyon area of the Gulf of Mexico using the Canyon Express gas
gathering system. In the same area, TotalFinaElf is currently developing the
Matterhorn field. These two deepwater developments will significantly increase
the company's production in the Gulf of Mexico.


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