press release

Chevron Contributes $10 Million to U.S. Institute of Peace

SAN RAMON, Calif., Jan. 29, 2007 -- Chevron Corp. (NYSE: CVX) today announced a $10 million contribution to the U.S. Institute of Peace (USIP), an independent, nonpartisan organization specializing in the resolution of international conflict and the promotion of peace building worldwide.

The $10 million contribution from Chevron will help construct the Institute's new permanent headquarters to be built at the northwest corner of the National Mall in Washington, D.C. The headquarters will serve as a national center of excellence for research, education, training policy and program development on international conflict prevention, management, and resolution.

USIP will name the Great Hall in its new headquarters the George P. Shultz Great Hall, in honor of the former U.S. secretary of state. In addition, the theater planned for the Institute's Public Education Center will be named the Chevron Theater.

"Chevron's contribution is an investment in the global peace-building efforts of USIP," said Dave O'Reilly, chairman and chief executive office of Chevron Corporation. "Around the world, USIP is making a difference through conflict resolution efforts and post-conflict stability programs. These initiatives are very much aligned with Chevron's own approach, which is focused on building the human and institutional capacity of communities wherever we operate. I also am delighted that the Institute of Peace has taken this opportunity to honor George Shultz for his tireless efforts in the cause of international diplomacy."

"Chevron's support for the Institute's new headquarters project comes at a significant moment," said USIP President Richard Solomon. "During the last two decades, we have worked to promote skills in international conflict resolution as an essential element of diplomacy and foreign policy," he continued. "The lack of stable societies and rule of law in many parts of the world increases the potential for armed conflicts. We strongly believe that preventive action to forestall these conflicts in the first place, and resolving them through peaceful means when they do occur, will minimize the need for military interventions. The increased capacity for our programs that the Institute will gain with its new headquarters will significantly increase our ability to reach out to the American public and the world."

USIP, created by Congress in 1984, conducts research, education and training on the prevention, management and resolution of international conflict. Its staff of nearly 200 experts and support staff work in many of the world's major conflict zones to promote peaceful resolution of those conflicts and train indigenous groups in the skills of peace building. More information about the work of USIP can be found at www.usip.org.

Chevron Corporation is one of the world's leading energy companies. With more than 55,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.

Updated: January 2007