Royal Dutch (a) Shell (b) f1227.800b 8.6300 1.6114 (fl/US$) 0.6443 (/US$) $141.368 $13.394 1 6 $141.368...

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Royal Dutch (a) Shell (b) f1227.800b 8.6300 1.6114 (fl/US$) 0.6443 (/US$) $141.368 $13.394 1 6 $141.368 $80.366 $141.375 $81.875 -0.01% -1.84% Exhibit 8 Prices on Royal Dutch and Shell, January 3, 1996 Security Price/Location 1. Quoted share price in Europe 2. Exchange Rate 3. Imputed US$ price of shares in Europe (1/2) 4. Number of shares in Europe to that in US 5. Imputed US$ price of shares in Europe (3 x 4) 6. Quoted US$ price of shares in New York 7. Geographic differential (5/6 -1) 8. Royal Dutch / Shell equivalent price Europe New York 9. Royal Dutch / Shell Differential (8a/8b) Europe New York a Prices from close of Amsterdam and London markets, respectively. b fl represents Netherlands guilders. Quoted at 3:00 p.m., New York time. $141.368 $124.222 $141.375 $126.554 13.80% 11.71% d Prices from close of New York market. e According to the alliance between Royal Dutch and Shell, one share of Royal Dutch received the cash flows of 1.5457 Shell ADRs. Royal Dutch (a) Shell (b) f1227.800b 8.6300 1.6114 (fl/US$) 0.6443 (/US$) $141.368 $13.394 1 6 $141.368 $80.366 $141.375 $81.875 -0.01% -1.84% Exhibit 8 Prices on Royal Dutch and Shell, January 3, 1996 Security Price/Location 1. Quoted share price in Europe 2. Exchange Rate 3. Imputed US$ price of shares in Europe (1/2) 4. Number of shares in Europe to that in US 5. Imputed US$ price of shares in Europe (3 x 4) 6. Quoted US$ price of shares in New York 7. Geographic differential (5/6 -1) 8. Royal Dutch / Shell equivalent price Europe New York 9. Royal Dutch / Shell Differential (8a/8b) Europe New York a Prices from close of Amsterdam and London markets, respectively. b fl represents Netherlands guilders. Quoted at 3:00 p.m., New York time. $141.368 $124.222 $141.375 $126.554 13.80% 11.71% d Prices from close of New York market. e According to the alliance between Royal Dutch and Shell, one share of Royal Dutch received the cash flows of 1.5457 Shell ADRs.