Senior Management Changes, Corporate Re-organizations, Pricing of Senior Notes, and New Appointments - Analyst Notes on Valero,

   Senior Management Changes, Corporate Re-organizations, Pricing of Senior
 Notes, and New Appointments - Analyst Notes on Valero, Hess, Tesoro, Airgas,
                                 and Celanese

Editor Note: For more information about this release, please scroll to bottom.

PR Newswire

NEW YORK, March 14, 2014

NEW YORK, March 14, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding Valero Energy
Corporation (NYSE: VLO), Hess Corporation (NYSE: HES), Tesoro Corporation
(NYSE:TSO), Airgas Inc. (NYSE: ARG), and Celanese Corporation (NYSE: CE).
Private wealth members receive these notes ahead of publication. To reserve
complementary membership, limited openings are available at:

Valero Energy Corporation Analyst Notes

On March 3, 2014, Valero Energy Corporation (Valero) announced that its CEO
Bill Klesse has informed the Company of his intentions to step down from his
current role, with effect May 1, 2014. Klesse will continue to serve as a
Valero Director and Chairman of the Board. In relation to this, Joe
Gorder,Valero's President and Chief Operating Officer, has been elected as the
CEO, effective May 1, 2014. Gorder was also appointed as a director by the
Company's Board and will join immediately. Klesse commented, "I would like to
thank our employees, Valero's shareholders, our customers and suppliers, and
our communities where we live and work for the support they have given Valero
and me. I ask that these same stakeholders give Joe the same support they have
given me." Gorder added, "Bill has done a great job of leading Valero, and he
has positioned the company very well to continue to succeed." The full analyst
notes on Valero Energy Corporation are available to download free of charge

Hess Corporation Analyst Notes

On March 11, 2014, Hess Corporation (Hess) announced that its Board of
Directors will appoint Terrence J. Checki, a Management Committee member at
the Federal Reserve Bank of New York, to the Company's Board of Directors,
effective May 1, 2014. Commenting on the decision, Mark Williams, Hess'
Non-Executive Chairman said, "Terry has decades of experience navigating
complex domestic and international financial issues for one of the world's
most important financial institutions. His insights into the many factors
influencing domestic economic development, as well as those affecting many of
the international markets in which we operate, add a unique and important
perspective to our Board. We look forward to his contributions as Hess
advances a plan that the Board believes will continue to deliver strong,
sustainable returns to shareholders." Checki added, "I am honored to have the
opportunity to join the world class Hess Board. I look forward to working
together with the Board and management as the Company continues to
successfully execute on its strategy to drive growth and increase shareholder
value." The full analyst notes on Hess Corporation are available to download
free of charge at:

Tesoro Corporation Analyst Notes

On March 4, 2014, Tesoro Corporation (Tesoro) announced the pricing of its
$300 million 5.125% Senior Notes due 2024 (the Notes Offering). The Company
expects the offering to close on March 18, 2014, and plans to utilize the net
proceeds, along with cash on hand, to finance the redemption of all of its
outstanding 9.75% Senior Notes due 2019, subject to customary conditions. RBS
Securities Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc.,
and Mitsubishi UFJ Securities (USA), Inc. are serving as joint book-running
managers for the Notes Offering. The full analyst notes on Tesoro Corporation
are available to download free of charge at:

Airgas Inc. Analyst Notes

On March 6, 2014, Airgas Inc. (Airgas) announced the reorganization of its
North Central distribution region, with immediate effect, into two separate
regions within the Company's North Division - a redefinedNorth Central region,
headquartered in Appleton, Wisconsin, and a new Midwest region,
headquarteredin the Chicagoland area. Michael L. Molinini, Airgas President
and CEO, commented, "We are optimistic about the long-term prospects for the
U.S. manufacturing industry, as structural drivers like the abundant supply of
low-cost energy and higher shipping costs from overseas should favor the U.S.
for years to come. U.S. manufacturing should also benefit from future growth
in the non-residential construction and energy industries. We're positioning
our resources in this area of the country to enhance our competitive position
and assure that we fully capitalize on these long-term growth prospects in
what is already one of the largest industrial gas markets in the U.S." The
full analyst notes on Airgas Inc. are available to download free of charge at:

Celanese Corporation Analyst Notes

On March 10, 2014, Celanese Corporation (Celanese) announced the appointment
of Amy Hebert as Vice President, Europe region. The Company informed that
Hebert has joined Celanese from Albemarle Corporation where she most recently
led the catalyst business as vice president.Commenting on the appointment,
Mark Rohr, Chairman and CEO of Celanesesaid, "Amy's leadership skills and
industry knowledge will be an asset to our long-term success in Europe, which
accounts for almost 40 percent of our global sales. In her new role in Europe,
Hebert will be accountable for profitably growing Celanese's businesses in the
region, optimizing manufacturing and maintaining cost competitiveness." The
full analyst notes on Celanese Corporation are available to download free of
charge at:

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