press release

Chevron to End NASCAR Sponsorship After 2008 Season

SAN RAMON, Calif. - August 19, 2008 - Chevron announced today that it will end its NASCAR sponsorship after the 2008 season. As a part of this action, Chevron will pursue new marketing strategies in support of the Texaco and Havoline brands with a focus on increased awareness through local and regional marketing programs.

"We're proud of our 20-year history with NASCAR," said Shariq Yosufzai, president of Chevron Global Marketing. "It has served our Texaco and Havoline brands well. We value the partnership and professionalism of our NASCAR teams and the support that our loyal NASCAR fans have provided over the years."

"NASCAR has been a first class experience for us, due in large part to Chip Ganassi Racing with Felix Sabates (CGRFS). We wish them the best in their pursuit of the Cup."

"We are pleased to have represented Texaco and Havoline over the past five years," said Chip Ganassi, owner, CGRFS. "Despite the success of our partnership, we understand that priorities change and wish Chevron the best in implementing its new marketing initiatives."

Chevron Corporation is one of the world's leading integrated energy companies with subsidiaries that conduct business across the globe. The company's success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products and services; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron Global Marketing is a division of Chevron Global Downstream LLC, an indirect wholly owned subsidiary of Chevron Corp. Chevron Products Company is a division of Chevron U.S.A. Inc., an indirect wholly owned subsidiary of Chevron Corp. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.

Updated: August 2008