press release

Chevron Press Release - Chevron Amends Incorrect Filing With Securities and Exchange Commission

August 9, 2001 -- Chevron erroneously reported, in filing its second quarter Form 10-Q today with the Securities and Exchange Commission, that Chevron and Texaco had signed an agreement for U.S. Federal Trade Commission approval connected with the pending merger with Texaco.

Chevron has retracted that statement, which was the result of a clerical error, in an amended filing of a Form 10-Q/A.

Negotiations continue with the staff of the Federal Trade Commission. Chevron remains optimistic that it will complete the merger within the one-year timeframe discussed last October when the merger plan was announced.

Chevron regrets any confusion caused by the earlier incorrect statement.

Updated: August 2001