Filed by Conoco Inc.
                                    Pursuant to Rule 425 under the
                                    Securities Act of 1933

                                    Subject Company:         ConocoPhillips
                                    Registration No.:        333-74798



Set forth below is a press release that was published on January 17, 2002
relating to the proposed merger between Conoco Inc. and Phillips Petroleum
Company.

            Conoco Receives FTC Request for Additional Information
                          About Merger with Phillips

Contact: Wendy Olson

HOUSTON (Jan. 17, 2002) -- Conoco Inc. (NYSE:COC) today said that it has
received from the Federal Trade Commission (FTC) a request for additional
information and documentary material regarding its proposed merger with
Phillips Petroleum Company (NYSE:P). The company is continuing to work closely
with the FTC staff. As previously announced, the merger is expected to close
in the second half of 2002, pending expiration of the Hart-Scott-Rodino
waiting period, a favorable vote by both Conoco and Phillips shareholders, and
other customary closing conditions.

###

ADDITIONAL INFORMATION

In connection with the proposed Conoco/Phillips merger, ConocoPhillips
(formerly known as CorvettePorsche Corp.) filed with the Securities and
Exchange Commission (the "SEC") on December 7, 2001, a registration Statement
on Form S-4 that included the preliminary joint proxy statement of Conoco and
Phillips and prospectus of ConocoPhillips. INVESTORS AND SECURITY HOLDERS ARE
URGED TO READ THE PRELIMINARY JOINT PROXY STATEMENT/PROSPECTUS, WHICH IS
AVAILABLE NOW, AND THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS, WHEN IT
BECOMES AVAILABLE, BECAUSE IT CONTAINS AND WILL CONTAIN IMPORTANT INFORMATION
REGARDING THE PROPOSED MERGER. Investors and security holders may obtain a
free copy of the preliminary joint proxy statement/prospectus and the
definitive joint proxy statement/prospectus (when it is available) and other
documents filed by Conoco, Phillips and ConocoPhillips with the SEC at the
SEC's Web site at www.sec.gov. The definitive joint proxy statement/prospectus
(when it is available) and these other documents may also be obtained for free
from Conoco or Phillips by calling Conoco at (281) 293-6800, and through
Conoco's Web site at www.conoco.com, or by calling Phillips at (918) 661-3700,
and through Phillips' Web site at www.phillips66.com. Conoco, Phillips and
their respective directors, executive officers and certain other members of
management and employees may be soliciting proxies from their respective
stockholders in favor of the proposed merger. Information regarding the
persons who may, under the rules of the SEC, be considered to be participants
in the solicitation of Conoco's stockholders in connection with the proposed
Conoco/Phillips merger is set forth in Conoco's proxy statement for a special
meeting of stockholders, dated August 8, 2001, and filed with the SEC on
August 3, 2001, and information regarding the persons who may, under the rules
of the SEC, be considered to be participants in the solicitation of Phillips'
stockholders in connection with the proposed Conoco/Phillips merger is set
forth in Phillips' proxy statement for its 2001 annual meeting, dated March
29, 2001, and filed with the SEC on March 29, 2001. Additional information is
set forth in the preliminary joint proxy statement/prospectus and will be set
forth in the definitive preliminary joint proxy statement/prospectus when it
is filed with the SEC.

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current expectations and
beliefs and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. The forward-looking statements contained in this
press release include statements about future financial and operating results
and the proposed Conoco/Phillips merger. These statements are not guarantees
of future performance, involve certain risks, uncertainties, and assumptions
that are difficult to predict, and are







based upon assumptions as to future events that may not prove accurate.
Therefore, actual outcomes and results may differ materially from what is
expressed herein.

In any forward-looking statement in which Conoco or Phillips expresses an
expectation or belief as to future results, such expectation or belief is
expressed in good faith and believed to have a reasonable basis, but there can
be no assurance that the statement or expectation or belief will result or be
achieved or accomplished. The following factors, among others, could cause
actual results to differ materially from those described in the
forward-looking statements: the risk that Conoco's and Phillips' businesses
will not be integrated successfully; costs related to the proposed merger;
failure of the Conoco or Phillips stockholders to approve the proposed merger;
and other economic, business, competitive and/or regulatory factors affecting
Conoco's and Phillips' businesses generally as set forth in Conoco's and
Phillips' filings with the SEC, including their Annual Reports on Form 10-K
for the fiscal year ended 2000, especially in the Management's Discussion and
Analysis section, their most recent Quarterly Reports on Form 10-Q and their
Current Reports on Form 8-K. Conoco and Phillips are under no obligation to
(and expressly disclaim any such obligation to) update or alter their
forward-looking statements whether as a result of new information, future
events or otherwise.