BALTIMORE, Jan. 8 /PRNewswire-FirstCall/ -- The Board of Directors of Petroleum & Resources Corporation (NYSE: PEO) declared a dividend of $0.13 per share, payable March 1, 2009, to stockholders of record February 13, 2009, consisting of $0.06 of investment income and $0.05 of long-term capital gain, all realized in 2008, and $0.02 investment income realized in 2009.

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.

    For further information please contact:
    Douglas G. Ober, Chairman, CEO, and President
    Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
    410-752-5900 or 800-638-2479
    E-mail: contact@peteres.com
    Website: www.peteres.com

For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please contact us.

SOURCE Petroleum & Resources Corporation