press release

Caltex and Woolworths Complete Co-Branded Service Station Arrangement

Today, with Caltex, we are taking a very significant step, extending our petrol offer to our customers nationwide resulting in quality discounted fuel near where they shop at around 450 Caltex Woolworths service stations.

Roger Corbett

We're delighted to have finalised this association with the country's leading food retailer in an initiative that will result in having Caltex quality fuel sold under the Caltex Woolworths banner at an additional 305 sites around the nation.

Dave Reeves

THIRD PARTY RELEASE

This is news concerning ChevronTexaco but issued by a third party, Caltex Australia Limited, and archived here for record purpose.

SYDNEY, Australia, Apr. 28, 2004 -- Woolworths Limited and Caltex Australia Limited today finalised arrangements for the national expansion of the Woolworths' fuel discount redemption offer to around 450 sites.

Woolworths Group Managing Director and CEO Roger Corbett and Caltex Managing Director and CEO Dave Reeves executed the final transaction documentation this morning.

"Today, with Caltex, we are taking a very significant step by extending our petrol offer to our customers nationwide resulting in quality discounted fuel near where they shop at around 450 Caltex Woolworths service stations. Our popular offer to customers of spending $30 or more in Woolworths/BIG W stores to receive 4 cents off per litre of petrol will now be extended across the nation," Mr Corbett said.

The arrangements finalised today replace interim start-up arrangements that commenced on 21 November 2003 and resulted in 41 Caltex sites co-branded Caltex Woolworths accepting Woolworths fuel redemption vouchers.

The final arrangements do not differ materially from the interim arrangements under which Woolworths sets fuel prices at the co-branded sites in accordance with Woolworths pricing policy.

The final arrangements will see the 305 Woolworths sites become jointly branded while Caltex expects that it will co-brand more than 130 of its sites near Woolworths' stores. The Caltex sites involved in the arrangement will include company-operated sites and franchisees selling fuel under a commission agency agreement.

The re-branding of the Woolworths sites to Caltex Woolworths and the rollout of the additional Caltex sites as co-branded stations will commence immediately and will completed as soon as practicable.

Mr Corbett said that the addition of more than 130 Caltex sites would provide national, cost effective and customer-convenient coverage that would ensure that the optimum number of Woolworths supermarkets and BIG W stores would be supported by adjacent Caltex Woolworths petrol sites.

Mr Reeves welcomed the signing of the long-term agreement.

"We're delighted to have finalised this association with the country's leading food retailer in an initiative that will result in having Caltex quality fuel sold under the Caltex Woolworths banner at 305 additional sites around the nation," Mr Reeves said.

"Caltex StarCard customers will be able to use their cards at all of these additional sites after they become co-branded, although not in conjunction with the fuel discount redemption offer.

"We will continue to support the Caltex Star Mart and Star Shop network to provide customers with an excellent convenience shop offer. Caltex franchisees will continue to be supported as a major group within the remaining Caltex and Ampol network of about 1,625 service stations."

Updated: April 2004