The parties have reached a tentative settlement in an action filed against the Exxon Corporation on behalf of all persons who own property in South Carolina that might have been contaminated with petroleum products released into the environment from equipment owned or operated by Exxon or from Exxon service stations. Eligible owners of property in South Carolina (who don't have to be SC residents) should contact the class attorneys for information regarding participation in the settlement.

In 1988, named plaintiff Mary Louise Fairey wanted to sell a piece of commercial property located in Orangeburg, South Carolina. She found a buyer. When the buyer found out that the property had once been the site of an Exxon service station, the lender requested that the property be checked for soil and water contamination. The deal fell through when the results came back.

Ms. Fairey filed this action four years later, seeking unspecified compensatory damages for the compromised property values that she and an undisclosed number of other owners of South Carolina property had suffered because of Exxon's alleged violations of state environmental laws. The action alleges that the company allowed fuel storage tanks to be abandoned while still holding gasoline, and condoned improper cleanup operations. The settlement also covers property that may have been contaminated because it was adjacent to an Exxon facility.

The settlement came on the day that attorneys made their opening arguments in a trial that was over 10 years in the making. The terms of the settlement are confidential, but it will apparently provide cash payments for eligible owners, since the company recently placed an undisclosed amount of money in a settlement fund earmarked for this action.

The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for October 7, 2003.