press release

FAMM-Indah Signs Lease Agreement for Bunker Terminal in Port Klang

SINGAPORE, Sept. 18, 2002 -- Fuel and Marine Marketing LLC (FAMM), a ChevronTexaco company, today announced that FAMM-Indah has signed a lease agreement with Westport Bunkering Services (WEBS) for their bunker terminal in Westport that services Port Klang, Malaysia. The multi-year agreement became effective earlier this year and construction to upgrade the 200,000 metric ton (mt) capacity facility has begun.

The engineering upgrade work, which includes installing additional blending and pumping capability to the terminal, is scheduled to be completed in the first quarter 2003. The facility should be fully operational in the second quarter, but the company may start bunkering fuel and oil products on a limited basis as operational conditions permit.

The WEBS terminal, which started operating in mid-1997, is located on the island of Pulau Indah in Westport, within Port Klang. FAMM-Indah and the WEBS facility will play a vital role in FAMM's overall bunkering strategy for Singapore and Malaysia.

"We are very excited about this long-term agreement with WEBS," said Stephen Brovarone, director, business development for FAMM. "Adding this location to our network will enable us to improve service to our customers in Port Klang and will also give FAMM a very strong market representation in the region."

FAMM-Indah, formed in April 2001, is a joint venture between FAMM and the Malaysian-based Coral-Indah. FAMM-Indah will assume operational control of the terminal.

The Penjuru terminal in Singapore, one of the biggest fuel oil terminals in Singapore, will be a complementary location to the Port Klang facility. The Penjuru terminal has a capacity of approximately 450,000 mt, of which FAMM uses more than half for its own business.

FAMM's customers should direct their bunker inquiries for Port Klang to FAMM through their normal marketing contacts. FAMM's Singapore customers should direct their bunker inquiries for Port Klang to FAMM in Singapore, phone number 65-6318-1653 or 65-6318-1386. E-mail yusakjm@chevron.com or cheanfa@chevron.com.

Updated: September 2002