<PAGE>
EXHIBIT 99
[CROWN NEWS RELEASE LETTERHEAD]
Institutional Inquiries:
JOHN E. WHEELER, JR.
Executive Vice President
and Chief Financial Officer
(410) 659-4803
Press/Shareholder Inquiries:
FOR IMMEDIATE RELEASE J. STEVEN WISE, Manager,
Baltimore, Maryland-NOVEMBER 1, 2000 Corporate & Government Affairs
(410) 659-4859
CROWN CENTRAL FURTHER EXTENDS APEX DEADLINE
-------------------------------------------
Crown Central Petroleum Corporation (CNP.A and CNP.B on the American
Stock Exchange) announced today an extension of the deadline for Apex Oil
Company to commence an all-cash tender offer for the acquisition of Crown.
Crown previously announced that the September 29, 2000 Apex deadline
would be extended until October 31, 2000 to enable Apex to complete its
due diligence. The special committee of the Crown Board of Directors has
today given Apex an additional extension of up to 30 days to permit
further discussions and negotiations in connection with its proposal to
acquire Crown. The extension is conditioned upon reasonable progress
being made throughout the period.
Headquartered in Baltimore, Maryland since 1930, Crown operates two
Texas refineries with a total capacity of 152,000 barrels per day, 329
Crown gasoline stations and convenience stores in the Mid-Atlantic and
Southeastern U.S., and 13 product terminals along the Colonial, Plantation
and Texas Eastern Products pipelines.
*****
