Chevron Gains Exclusive Rights to
Texaco Brand

Only Texaco stations supplied by Chevron will feature "with Techron™" identification at gas pumps and point-of-purchase displays

SAN RAMON, Calif., June 30, 2006 - Chevron today announced that it is gaining exclusive rights to the Texaco brand for retail locations in the United States on July 1, 2006. Following the company's 2001 merger with Texaco, Chevron was required to license the Texaco retail brand to Shell in the United States for the marketing and sale of gasoline through June 30, 2006. Chevron and Shell have shared rights to use the Texaco brand in the United States since July 1, 2004, when Shell's Texaco brand license became nonexclusive.

Beginning July 1, 2006, only those Texaco stations supplied by Chevron are allowed to carry the Texaco brand. Customers can be sure they are at a Chevron-supplied Texaco station when they see the "with Techron™" identification at the gasoline pumps and point-of-purchase displays. Techron - the company's specially patented additive currently in all Chevron gasolines - helps prevent engine deposit build-up and minimize vehicle emissions and will be included in all grades of Texaco gasolines. The Chevron and Texaco credit cards will be accepted at all Texaco stations that display the "with Techron" logo.

In anticipation of gaining Texaco brand exclusivity, Chevron kicked off a new Texaco global advertising campaign in April 2006 to celebrate the people who know and love their cars, are driven by performance, and trust only one brand of gasoline. The theme of the advertisements, "People in the Know Trust Texaco," brings to life what consumers have acknowledged about Texaco all around the world: its strong heritage, a trusted brand and provider of quality products. The new advertisements, which feature the new tagline "Trust Your Car to the Star," are appearing in television, radio, internet, and outdoor media outlets in 14 markets.

"We are committed to the Texaco brand and keeping its history alive by continuing to deliver the superior power, performance and quality that Texaco has provided for motorists for more than 100 years," said Shariq Yosufzai, President, Chevron Global Marketing. "We are excited about the opportunity to continue growing the Texaco brand."

"We plan to continue growing the brand by attracting marketers to the strong heritage of the Texaco star," said Danny Roden, vice president, Chevron North America Marketing. "We have expanded the Texaco brand to over 1,800 retail sites in more than 20 states since July 2004, and will continue to search for growth opportunities within our current U.S. marketing areas in the West, Southwest, Gulf Coast, and Southeast."

For more than 100 years, Texaco has grown into one of the most iconic, trusted and familiar brands in the world. The Texaco brand has maintained its consumer influence in many markets and was ranked as the second most powerful brand behind Chevron in a recent Oil Price Information Service (OPIS) study.

Chevron Corp. is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron Global Marketing is a division of Chevron Global Downstream LLC, a subsidiary of Chevron Corp. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.

TECHRON is a registered trademark licensed to Chevron U.S.A. Inc.

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