press release

Chevron Press Release - Chevron Selects Firm for Sale of Market Street Buildings

SAN FRANCISCO, June 15, 1999 -- Chevron has chosen Eastdil Realty Co. to handle the marketing and sale of its two San Francisco headquarters buildings at 555 and 575 Market St.

"Eastdil is the preeminent company in U.S. central business district office transactions," said Hap Payne, president of Chevron Real Estate Management Co. "As the oldest real estate investment banking firm, we're confident Eastdil has the resources and expertise to handle this important transaction."

Chevron announced last month that it would consolidate many of its San Francisco-based employees into company offices in the East Bay as part of on-going cost reduction efforts.

Corporate headquarters will remain at 575 Market St. in leased space. Approximately two-thirds of the roughly 1,400 employees in San Francisco will be transferred to offices in the East Bay, where about 6,600 employees currently work.

Updated: June 1999