press release

ChevronTexaco's Oil & Gas Production Unaffected by Events in South Asia

SAN RAMON, Calif., Dec. 28, 2004 -- ChevronTexaco said today that its oil and gas production facilities and operations in Indonesia and Thailand were unaffected by the tragic earthquake and tsunamis that struck South Asia earlier this week.

"Our thoughts and condolences go out to the many victims of this unprecedented devastation, and we will be offering financial aid to the relief efforts," said Peter Robertson, vice chairman of ChevronTexaco. "We also want to reassure our partners and customers that our oil and gas production facilities in the region remain fully operational."

About ChevronTexaco

ChevronTexaco Corp. is one of the world's leading energy companies. With more than 47,000 employees, ChevronTexaco conducts business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products. ChevronTexaco is based in San Ramon, Calif. More information on ChevronTexaco is available at chevrontexaco.com.

CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

This news release may contain forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties, and other factors, some of which are beyond the company's control and are difficult to predict. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, ChevronTexaco undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Updated: December 2004