press release

Texaco Capital LLC issues Notice of Redemption of Series A and Series B Monthly Income Preferred Shares ("MIPS")

SAN FRANCISCO, Oct. 16, 2001 - Texaco Capital LLC, a limited life company organized under the laws of the Turks and Caicos Islands ("Texaco Capital") and an indirect wholly owned subsidiary of ChevronTexaco Corporation ("ChevronTexaco"), has issued a notice of redemption of the following series of securities:

  • 6% percent Cumulative Guaranteed Monthly Income Preferred Shares, Series A (the "Series A MIPS").
  • Cumulative Adjustable Rate Monthly Income Preferred Shares, Series B (the "Series B MIPS").

The Series A MIPS will be redeemed on Nov. 30, 2001, at a redemption price of $25 per share plus accrued and unpaid dividends to such date. The Series B MIPS will also be redeemed on Nov. 30, 2001, at a redemption price of $25 per share plus accrued and unpaid dividends to such date.

Updated: October 2001