press release

Chevron Press Release - Chevron To Sell Former Gulf Oil Great Britain Cheltenham Headquarters Building

SAN FRANCISCO, March 31, 1998 -- Chevron Corp. has announced plans to sell its former Gulf Oil (Great Britain) Ltd. headquarters building in Cheltenham, England, located about 100 miles west of London. This follows the 1997 sale of Gulf Oil (Great Britain) Ltd.s service stations and other marketing assets to Shell UK Ltd.

Constructed in 1993, the office building has 64,265 square feet (5,972 square meters) with 213 parking spaces. It is situated on 8.5 acres with expansion potential, overlooking Cheltenham Racecourse.

The listing price is 8.5 million. The building is also offered for lease at 14 per square foot.

Chevron has selected Knight Frank of London and John Ryde Commercial of Cheltenham as its brokers. Questions regarding the buildings purchase or lease should be directed to listing agents from either firm.

Building inquiries:

Nick Jackson/Graham Hayman (Knight Frank, London) -- (171) 629-8171
Tim Smith/Paul Maguire (John Ryde Commercial, Cheltenham) -- (1242) 576-276

Updated: March 1998