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BANDA ACEH, Indonesia, and SAN RAMON, Calif., August 29, 2008 - Chevron Corporation (NYSE: CVX), the government of Indonesia, the local government of Aceh province, the National Education Department, the Rehabilitation and Reconstruction Agency for Aceh and Nias, and the United States Agency for International Development (USAID) today announced the completion of a $16 million partnership to construct a polytechnic institute in Aceh province, Indonesia.

Chevron committed $6 million to the polytechnic, which supports the government of Indonesia's plan to assist in restoring people's livelihoods following the tsunami of December 26, 2004. The company has committed a total of $14.7 million through the Chevron Aceh Recovery Initiative to support reconstruction initiatives. More than 100,000 people in Aceh have been helped by the company's efforts.

"The polytechnic opens a new chapter in rebuilding Aceh society," said Rhonda Zygocki, Chevron vice president for Policy, Government and Public Affairs. "It will build the capacity of dozens of community leaders, teach thousands of students critical technology skills and help restore countless livelihoods."

The Aceh Polytechnic will provide vocational training in applied technology fields such as information technology, mechatronics engineering (a combination of electronic and mechanical engineering), electronics telecommunication and business accounting. These fields correspond with local industry needs and are critical to continued reconstruction and development in the province.

"Through this partnership, we are helping Aceh achieve and sustain greater economic growth, educational opportunities and human and institutional capacity than it had before," said Steve Green, managing director of Chevron's IndoAsia Business Unit. "Partnerships are part of our values and central to the way we conduct community engagement programs," he added.

Chevron Corporation has had a presence in Indonesia since 1924, when it began exploration activities through its predecessor, Standard Oil Co. of California. The corporation has contributed to developing human capacity through education, training and local business development in Indonesia.

Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business across the globe. The company's success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.