<PAGE>
 
                               MOBIL CORPORATION
                               -----------------

                               POWER OF ATTORNEY
                               -----------------


     KNOW ALL PERSONS BY THESE PRESENTS, that each of the under-signed directors
and/or officers of Mobil Corporation, a Delaware corporation, hereby constitutes
and appoints WALTER R. ARNHEIM, STEVEN L. DAVIS, CAROLE J. YALEY and GORDON G.
GARNEY his or her true and lawful attorneys-in-fact and agents to execute in his
or her name and capacity the 1998 annual report on Form 10-K of this Corporation
and any amendments to such annual report with all exhibits thereto, and any and
all documents in connection therewith pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended, each of such persons having full
power to act without the others;

     AND FURTHER, that each of the undersigned directors and/or officers of the
Corporation hereby grants to said attorneys-in-fact and agents and each of them,
full power and authority to do and perform any and all acts and things essential
and necessary to be done in and about the premises, as fully to all intents and
purposes as he or she might or could do in person in connection with the proper
exercise of the powers granted hereunder.

     IN WITNESS WHEREOF, the undersigned, as directors and/or officers of said
Mobil Corporation or as individuals, have here- unto set their hands and seals
as of the 26th day of February, 1999.


NAME AND TITLE                           /s/ Lucio A. Noto
                                         -------------------------------------
                                         Lucio A.  Noto,  Director, Chairman
                                         of the Board, Principal Executive
                                         Officer


                                         /s/ Harold R. Cramer
NAME AND TITLE                           -------------------------------------
                                         Harold R. Cramer, Executive Vice
                                         President, Principal Financial Officer
<PAGE>
 
NAME AND TITLE                           /s/ Steven L. Davis
                                         -------------------------------------
                                         Steven L. Davis, Controller,         
                                         Principal Accounting Officer         
                                                                              
                                                                              
NAME AND TITLE                           /s/ Lewis M. Branscomb
                                         -------------------------------------
                                         Lewis M. Branscomb, Director         
                                                                              
                                                                              
NAME AND TITLE                           /s/ Donald V. Fites               
                                         -------------------------------------
                                         Donald V. Fites, Director            
                                                                              
                                                                              
NAME AND TITLE                           /s/ Charles A. Heimbold, Jr.
                                         -------------------------------------
                                         Charles A. Heimbold, Jr., Director   
                                                                              
                                                                              
NAME AND TITLE                           /s/ Allen F. Jacobson
                                         -------------------------------------
                                         Allen F. Jacobson, Director          
                                                                              
                                                                              
NAME AND TITLE                           /s/ Samuel C. Johnson
                                         -------------------------------------
                                         Samuel C. Johnson, Director          
                                                                              
                                                                              
NAME AND TITLE                           /s/ Helene L. Kaplan
                                         -------------------------------------
                                         Helene L. Kaplan, Director           
                                                                              
                                                                              
NAME AND TITLE                           /s/ J. Richard Munro
                                         -------------------------------------
                                         J. Richard Munro, Director           
                                                                              
                                                                              
NAME AND TITLE                           /s/ Aulana L. Peters
                                         -------------------------------------
                                         Aulana L. Peters, Director           
                                                                              
                                                                              
                                                                              
NAME AND TITLE                           /s/ Eugene A. Renna
                                         -------------------------------------
                                         Eugene A. Renna, Director
<PAGE>
 
NAME AND TITLE                           /s/ Charles S. Sanford, Jr.
                                         -------------------------------------
                                         Charles S. Sanford, Jr., Director



NAME AND TITLE                           /s/ Robert G. Schwartz
                                         -------------------------------------
                                         Robert G. Schwartz, Director



NAME AND TITLE                           /s/ Iain D. T. Vallance
                                         -------------------------------------
                                         Iain D. T. Vallance, Director