press release

Chevron Chemical Co. Licenses Eastman Chemical's Proprietary energx

CHEVRON CHEMICAL CO. LICENSES EASTMAN CHEMICAL'S PROPRIETARY ENERGX™ TECHNOLOGY FOR THE MANUFACTURE OF POLYETHYLENE

HOUSTON, Sept. 27, 1999 -- Chevron Chemical Co. LLC today announced it has signed a license with Eastman Chemical Co. for Eastman's proprietary Energx™ technology. Chevron will utilize the technology to produce enhanced polyethylene polymers in gas phase manufacturing facilities at its Cedar Bayou plant in Baytown, Texas. This license is the culmination of successful negotiations based on a Letter of Intent signed by the two companies earlier this year.

Chevron Chemical President Darry Callahan said, "The license of this technology confirms Chevron Chemical's commitment to provide our customers with enhanced polyethylene products to meet their needs. Chevron's strategy is to provide a full range of polyethylene resins and these products offer excellent strength, sealing, and optical properties along with easy processing for high-performance markets."

Chevron Polyethylene resins are used to make plastic pipe, food packaging (milk cartons, plastic wrap and bottles) and containers for household, industrial and pharmaceutical products.

Chevron Chemical Co. LLC, headquartered in Houston, Texas, is a wholly owned subsidiary of Chevron Corp.

Updated: September 1999