press release

ChevronTexaco Provides Assistance to Flood Victims in the Vicinity of Novorossiysk

THIRD PARTY RELEASE

This is news concerning ChevronTexaco but issued by a ChevronTexaco subsidiary, Chevron Neftegaz Inc., and archived here for record purpose.

Six hundred thousand rubles have been allocated to the aid fund

MOSCOW, Aug. 9, 2002 -- ChevronTexaco today announced it has donated 600,000 rubles to provide immediate aid to victims of recent floods and heavy rains in the vicinity of Novorossiysk. The funds will be transferred to the special account opened to assist the victims of the recent flooding.

"ChevronTexaco extends its sincere sympathy to the citizens of the Novorossiysk region who are suffering as a consequence of this natural disaster." Mr. Smith, president of Chevron Neftegaz Inc., said. "The community has supported ChevronTexaco through the years, and we wanted to provide support to our neighbors, customers and friends as we all recover from the devastation of these floods."

Smith added, "We hope this pledge will help in some way with the necessary work that must be done in the coming days, weeks and months. We know you will overcome the consequences of the flood soon, and are glad to help provide this emergency financial support to you."

ChevronTexaco has a 15 percent interest in the Caspian Pipeline Consortium (CPC). CPC pipeline connects Tengiz oil field in Kazakhstan with Novorossiysk-2 terminal at the Black Sea. CPC terminal is located 6 kilometers from the coastline. As advised by CPC management, the CPC crude oil pipeline is operating normally. Loading operations, temporarily suspended during search and rescue operations and for a system inspection, have been renewed, and CPC terminal is now operating in a normal regime.

ChevronTexaco has a wide-ranging community outreach and support program in the Novorossiysk and Krasnodar region that includes children's hospitals, schools, orphanages and various social and cultural programs.

Since 1995 ChevronTexaco donated more than $2 million for community outreach projects in Russia.

ChevronTexaco -- Company Profile

ChevronTexaco Corp. is one of the largest energy companies in the world. Chevron Neftegaz Inc. coordinates ChevronTexaco's activities throughout the territory of Russia.

ChevronTexaco is the biggest private shareholder in CPC and has a 33.3 percent stake in the development of the Kirinski block in Sakhalin III. ChevronTexaco has established a joint venture with the Tumen Oil Co. to market lubricant oils in Russia.

Its "Oronite" company is supplying additives for fuels and motor oils to Russia.

In Russia, ChevronTexaco also sells lube oils, coordinates marketing and transportation of crude and petroleum products, performs licensing of ChevronTexaco technologies, leads joint research activities with Russian research institutes in various fields of refining and petrochemical industries.

Updated: August 2002