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Deady, a former Trial Attorney in the United States Department of
Justice's Civil Rights Division and a former Assistant United States Attorney
in both Chicago and Baltimore United States Attorney's Offices, has over
twenty-five years of federal trial and appellate experience.

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7 million shares of stock.

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Kerr-McGee has never contacted
Highfields about the matters alleged in its suit to determine their accuracy,
and furthermore Highfields only became aware of the allegations through the
news media today. In
fact, since Highfields first became a shareholder in October 2004, it has
never owned more than 2.

CONTACT:
Daniela Messina of Weber Shandwick
(617) 520-7057
dmessina@webershandwick.

Alarm Sounded on Unreported Hazards at Giant Cement

Last week the Union
announced its intent to sue Giant Cement Company, a subsidiary of Spanish-
based Cementos Portland Valderrivas, for alleged violations of federal
environmental laws.
USW representatives said the Union plans to continue investigating the
environmental compliance record at Giant Cement's facility in Harleyville, and
at company operations in other municipalities.
"This is a bigger issue than any labor dispute between the company and the
Steelworkers," said Richard Thomas, a USW representative.

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"
Company spokesman John Von Tress has described the pending lawsuit as
harassment and dismissed the alleged violations as "paperwork violations.

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The video game
legislation signed into law by the Governor on July 25 , 2005 makes it illegal
to sell or rent violent or sexually explicit video games to minors. Highfields ' ownership of
Kerr-McGee and Highfields' dialogue with management long preceded the
activities that Kerr-McGee complains about in its suit.
The fire hazard is an issue of particular concern to Gary Melton, who
spoke as a representative of the Professional Firefighters of South Carolina . Exposure to
just one such chemical, methyl chloride, can severely burn the skin, impair
function of vital organs and can even cause death, according to information
published by the New Jersey Department of Health.

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,
which was recently ranked among the top seven healthcare firms in Illinois by
Chambers + Partners, a leading publisher of guides to the legal profession,
please visit the firm's website at http://www.05 million shares. This is also
blatantly false. Highfields is an investment firm that seeks to make long-term
value investments in undervalued securities, and Kerr-McGee shares had traded
at a perennial discount to the Company's underlying net asset value, which was
attractive in a rising energy price environment.8 billion in investment funds
on behalf of charitable foundations , school endowments and other institutional
and private investors.

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Devine from enforcing provisions of the video game legislation
which is scheduled to go into effect January 1, 2006. Deady at
(312) 946-1800.

Highfields Capital Releases Statement Regarding Unfounded Allegations By Kerr-McGee Corporation

Steelworkers Union Offers Facts While Company Avoids the Issue

HARLEYVILLE, S ." He
has not publicly denied the Union's allegations that the company is in
violation of the law .

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CHICAGO, Illinois Attorney General Lisa Madigan
has appointed Patrick E. These
associations representing the video game industry and Illinois retailers
contend that the Illinois statute imposes unconstitutional restrictions on
video game creators and retailers in violation of the First Amendment 's
protection of free speech and expression.
Kerr-McGee also alleged that Highfields had acquired 3.C.

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(Photo: http://www. Deady or the firm of Hogan Marren, Ltd. Highfields has no
affiliation with the Defendant Investors, nor has it coordinated purchases of
Kerr-McGee stock with any investors (including the Defendant Investors) nor
acted together with any person to seek Kerr-McGee directorships . Highfields manages approximately $6. In the same time frame, the company paid
regulatory fines on at least 8 occasions, with penalties totaling $78,500.

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05 million shares of Kerr-McGee.
The Union released additional information on potential health hazards
associated with specific chemicals named in the intent to sue.

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Since joining
Hogan Marren, Ltd. Highfields has never, either during the period
described or during any period, purchased 3.
In fact, Highfields did not purchase any shares of Kerr-McGee common stock
during this period., The United Steelworkers (USW)
on Wednesday hosted a conference of concerned citizens to discuss the
potential risks posed by Giant Cement Company's failure to accurately report
the identity and quantity of certain chemicals used and stored on plant
property and released to the environment in 2004.

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Deady will serve as co-counsel with attorney Michael Kasper and
Matthew S.

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The Union presented evidence of a history of environmental violations and
accidents at the cement plant, including at least 16 fires or explosions that
have occurred in the last ten years.

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, Special Assistant Attorney General to represent
Governor Rod Blagojevich in a federal lawsuit brought by representatives of
the video game industry challenging the constitutionality of recent Illinois
legislation restricting the sale and rental of violent and sexually explicit
video games to minors.com/cgi-bin/prnh/20050914/CGW033 )
The Entertainment Software Association, the Video Software Dealers
Association and Illinois Retail Merchants Association are seeking to enjoin
the Governor, Attorney General Madigan and Cook County State's Attorney
Richard A.

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Mr.

"Emergency responders need to know what is in these plants in order to
respond effectively and protect the community," said Melton. "Without this
knowledge, emergency responders, workers and community members are at risk.

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Deady, senior litigation partner at the Chicago firm
of Hogan Marren , Ltd.

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Ryan, Senior Counsel in the Office of the Governor, who were also
appointed Special Assistant Attorneys General.com or call Mr. BOSTON, Highfields Capital Management
("Highfields") today responded to false and unfounded allegations made by
Kerr-McGee Corporation ("Kerr-McGee") in a federal lawsuit it filed today
against Carl C. Furthermore, the
steps Highfields and apparently other shareholders advocated - such as the
disposal of the chemical business and the institution of a more expansive
hedging program and related share repurchase - have similarly been discussed
in the financial press and proposed by independent Wall Street analysts,
including in a Morgan Stanley research report dated October 27, 2004 and a
Barron's article dated February 7, 2005.

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The allegations referring to Highfields are irresponsible and blatantly
false, as well as factually unfounded.
In addition, Kerr-McGee alleges that Highfields had purchased at least 1.5
million shares of Kerr -McGee between January 28 and February 18 of this year.com


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Mr."

For more information, contact: David Stepp at 843-462-7012
Richard Thomas at 615-585-0728
Jon Vandenburgh at 412-562-2490


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For more information about Mr.
In its lawsuit, which did not name Highfields as a defendant , Kerr-McGee
alleged that Highfields may have coordinated its stock purchases with such
Defendant Investors and formed an undisclosed group. The health and safety of our
members and of the general public will not be traded away at the bargaining
table.

Related sites on government conspiracy, 911 coverups and related material.

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Hogan Marren Ltd. Partner Appointed Special Assistant Attorney General

"We are committed to
ensuring that Giant complies with the law.

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newscom. Icahn, JANA Partners LLC and their related funds (the
"Defendant Investors").6 million shares of
Kerr-McGee during a recent three-month period, raising its ownership of Kerr-
McGee to 4.6 million shares of Kerr-McGee
stock, nor has Highfields ever owned 4.
The suit is further filled with innuendo regarding Highfields' investment
activities, suggesting that its advocacy to the Company of value-enhancing
steps was improper and coordinated with the activities of others.

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in 1996, Mr. Deady has headed the firm's litigation
practice and has been involved in a wide range of disputes, including health
care fraud investigations, antitrust violations, white collar crimes and
official corruption, as well as other commercial, construction and employment
disputes.hmltd.



Kerr-McGee must be held accountable for any deleterious impact on
Highfields' reputation with its clients, in the marketplace, and with the
management teams of existing and potential companies in its portfolio, and
Highfields will vigorously defend itself and its reputation.

About Highfields Capital Management: Highfields Capital Management is a
Boston-based investment management firm, established in 1998, that primarily
makes long-term equity investments in securities of both public and private
companies.

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