press release

ChevronTexaco to End Sponsorship of Metropolitan Opera Radio Broadcasts After 2003-2004 Season

SAN RAMON, Calif., May 20, 2003 -- ChevronTexaco Corp. today announced that the company will end its sponsorship of the Metropolitan Opera's international radio broadcast program following the conclusion of the 2003-2004 season. ChevronTexaco also said that it will provide support for the Metropolitan Opera's efforts to identify another sponsor or sponsors for the radio broadcasts.

"ChevronTexaco has had a tremendously rewarding relationship with the Metropolitan Opera, which is a world-class cultural treasure," said Patricia E. Yarrington, ChevronTexaco vice president for public and government affairs. "However, as our business has evolved, we believe it is important to focus more of our resources directly with the countries and markets where we do business, with an additional emphasis on addressing pressing development needs in those communities."

ChevronTexaco has served as the sole sponsor of the Met's radio broadcasts since 1940, making it the world's longest-running corporate sponsorship of the performing arts. The program provides a live radio broadcast of the Metropolitan Opera's Saturday matinee performances from December through April. The program has expanded to include 42 countries with a total audience of 10 million listeners.

ChevronTexaco's legacy with the Met will continue through the ChevronTexaco Early Notes program, which the company has endowed in perpetuity to bring the music of the Metropolitan Opera to New York City public school students.

About ChevronTexaco

Based in San Ramon, Calif., ChevronTexaco 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 oil and natural gas, marketing fuels and other energy products.

Updated: May 2003