Devon Energy Announces Cash Dividend for Common Stockholders

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OKLAHOMA CITY, Dec. 1 /PRNewswire-FirstCall/ -- Devon Energy Corporation (NYSE: DVN) today announced that its board of directors declared a quarterly cash dividend on Devon's common stock for the fourth quarter of 2008. The dividend is payable on December 31, 2008, at a rate of $0.16 per share based on a record date of December 15, 2008.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is the largest U.S.-based independent oil and gas producer and is included in the S&P 500 Index. For more information about Devon, please visit our website at www.devonenergy.com.

SOURCE  Devon Energy Corporation
    -0-                           12/01/2008
    /CONTACT:  Investors, Shea Snyder, +1-405-552-4782, or Media, Chip Minty,
+1-405-228-8647, both for Devon Energy Corporation/
    /Company News On-Call:  http://www.prnewswire.com/comp/118040.html/
    /Web Site:  http://www.devonenergy.com /
    (DVN)

CO:  Devon Energy Corporation
ST:  Oklahoma
IN:  OIL
SU:  DIV

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5430 12/01/2008 11:00 EST http://www.prnewswire.com