Asset rationalization program generates more than $1.2 billion   Asset sales Sales of non-core assets provide funds for investment in projects with higher potential Business transformation Process leads to projected annual savings of $135 million starting in 2004 Financial discipline Cash-adjusted debt-to-capital ratio lowered to less than 33 percent at year-end Sustainable long-term value growth Strong financial performance leads to approximately 9 percent increase in quarterly dividend       Houston, Texas In 2003, Marathon took significant steps to improve the company’s competitiveness by streamlining business processes and services, realigning reporting relationships to reduce costs, and consolidating the U.S. production organization in Houston. Employees pictured above, clockwise from upper left: Doug Brooks, Claudia Minor, Rob Martinez Jr., Amy Mifflin and Kenneth Miller