press release

ChevronTexaco Technology Ventures Makes Key Appointments in Hydrogen Business Unit

HOUSTON, Sep. 22, 2003 -- ChevronTexaco Technology Ventures, a unit of ChevronTexaco Corp., today announced Rick Zalesky has been appointed vice president of its Hydrogen Business Unit. Zalesky will report to Greg Vesey, president of ChevronTexaco Technology Ventures.

In his new role, Zalesky will be responsible for hydrogen technology development, business development and infrastructure design and implementation. Current hydrogen projects, such as the U.S. Department of Energy contract for the development of a 50 kilowatt stationary hydrogen generator, will be managed by the business unit.

Zalesky has held a variety of supervisory and management roles in ChevronTexaco's refining and marketing operations in California, Pennsylvania and Texas. In 1999, he was named general manager of its refinery in Richmond, Calif.

Other appointments in the business unit include, John Brady to manage infrastructure, Jeffrey Jacobs to manage business development, and Jeff Hedges to manage technology development.

"We're very pleased that Rick is leading this key effort for ChevronTexaco Technology Ventures," said Vesey. "These new appointments, along with our on-going hydrogen business efforts, underscore ChevronTexaco's commitment to being a leader in hydrogen generation technology and future energy markets."

ChevronTexaco, through ChevronTexaco Technology Ventures, invests in and pursues commercialization of a broad spectrum of energy-related technologies and is also an active venture capital investor. Commercialization and investment efforts currently include hydrogen systems, advanced batteries, fuel processing and fuel cell related technologies, development of hydrogen infrastructure solutions, renewables and nanotechnology through internal development, joint ventures and equity investments.

About ChevronTexaco

Based in San Ramon, Calif., ChevronTexaco Corp. is the second-largest U.S.-based energy company and the fifth largest in the world, based on market capitalization. More than 53,000 ChevronTexaco employees work in approximately 180 countries around the world, producing crude oil and natural gas, and marketing fuels and other energy products.

Updated: September 2003