press release

Chevron Press Release - Chevron Sells Additional Real Estate Interests

SAN FRANCISCO, March 18, 1996 -- Chevron Corporation today announced the sale of its interest in multiple real estate properties in California totaling 1.7 million square feet.

The sale, for an undisclosed sum, is to an affiliate of Morgan Stanley Real Estate Fund II, 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