press release

Chevron Press Release - Chevron Capital U.S.A. Inc. Announces Purchase Offer for $350 Million

SAN FRANCISCO, Calif., Feb. 1, 2001 -- Chevron Capital U.S.A. Inc., an indirect wholly owned subsidiary of Chevron Corp., announced today that it is offering to purchase for cash any and all of its outstanding $350,000,000 7.45 percent Guaranteed Notes Due 2004.

The purchase offer will commence Thursday, Feb. 1, 2001, and expire Wednesday, Feb. 14, 2001. This offer is made upon the terms and subject to the conditions set forth in the Purchase Offer dated Feb. 1, 2001. Copies of the Purchase Offer can be obtained from Beacon Hill Partners, the Information Agent, at (800) 755-5001 or (212) 843-8500. Banc of America Securities LLC is serving as the Dealer Manager for the purchase offer.

Updated: February 2001