press release

Chevron Press Release - Chevron Land Sells Some Real Estate Interest

SAN FRANCISCO, March 13, 1996 -- Chevron Corporation today announced the sale of its interest in a master-planned community, Coto de Caza, in Orange County, Calif. The sale, for an undisclosed sum, is to a partnership between subsidiaries of Lennar Corporation, headquartered in Miami, and The Tiger Real Estate Fund, L.P.

Chevron announced last year that it had begun marketing its real estate assets that were held by Chevron Land and Development Co., Huntington Beach Co., Pacific Coast Homes, and a number of affiliated companies. Further sale announcements are expected this year from a wide range of real estate holdings in California.

Updated: March 1996