press release

ChevronTexaco Executive Vice President Darry Callahan to Retire

SAN RAMON, Calif., June 5, 2003 -- Darald (Darry) W. Callahan, currently ChevronTexaco executive vice president of power, chemicals and technology, has elected to retire effective June 30, the company announced today.

"Darry has been a vital part of this company throughout his 40-year career, and his wisdom and insight will be greatly missed," said Dave O'Reilly, ChevronTexaco chairman and chief executive officer. "Many of his accomplishments, including overseeing the creation of Chevron Phillips Chemical Company and the roll out of our reinforcement-based leadership program, continue to be important facets of ChevronTexaco today."

Callahan, a native of Wisconsin and raised in Oregon, received a bachelor's degree in chemical engineering from Oregon State University in 1964 and did post-graduate work at the University of California at Berkeley.

He began his career with Chevron in 1964 as a research engineer at Chevron Research Co. in Richmond, Calif. After serving for several years in advisory positions in the company's foreign operations area, Callahan was elected president of Chevron Oil Bahamas Ltd. in 1980. Two years later, he was named manager of pricing and evaluation for Chevron U.S.A. Inc.'s marketing department. In 1983, he became manager of commercial and industrial products and was named general manager of marketing operations in 1985. In 1987, Callahan was elected president of Warren Petroleum Co., a Chevron subsidiary.

In 1991, Callahan was named senior vice president of Chevron Chemical Co. LLC., a subsidiary of Chevron. In 1999, he became president of Chevron Chemical Co.

Prior to the merger with Texaco, Callahan was named an executive vice president in 2000. He assumed his current position upon the formation of ChevronTexaco Corp. on Oct. 9, 2001.

Callahan most recently served on the boards of directors of Chevron Phillips Chemical Company, Dynegy and Sasol Chevron. He is involved in a variety of business and civic organizations, including serving as a member of the board of trustees of Oregon State University.

Updated: June 2003