NEWS RELEASE

RANGE BANK CREDIT INCREASED

FORT WORTH, TEXAS, OCTOBER 10, 2002…RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its banks had unanimously approved an increase in the funds available under its parent company credit facility. Effective October 1, the borrowing base was increased to $147 million, of which only $105 million is outstanding. Up to an additional $10 million of credit can be obtained if additional fixed rate debt is retired. The increase was granted following the banks’ semi-annual review of the Company’s operating and financial results.

Commenting, John Pinkerton, Range’s President, said, “We were very pleased with our banks' willingness to extend us additional credit in the current financial climate. As our capital program is being entirely funded with internal cash flow, the increase provides us the ability to retire additional fixed rate debt or to pursue the acquisition of incremental property interests. Most importantly, the banks' decision confirms our belief that recent capital expenditures are enhancing our production profile and adding to our reserve base.”

RANGE RESOURCES CORPORATION is an independent oil and gas company operating in the Permian, Midcontinent, Gulf Coast and Appalachian regions of the United States.

2002-12

Contacts: Rodney Waller, Senior Vice President Karen Giles

(817) 870-2601

www.rangeresources.com

Except for historical information, statements made in this release, including those relating to future earnings and capital expenditures, production, expenses, and reserve replacement are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management’s assumptions and the Company’s future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the volatility of oil and gas prices, the costs and results of drilling and operations, the timing of production, mechanical and other inherent risks associated with oil and gas production, weather, the availability of drilling equipment, changes in interest rates, litigation, uncertainties about reserve estimates, and environmental risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in the Company’s filings with the Securities and Exchange Commission, which are incorporated by reference.