press release

Texaco Press Release - Caltex Names Star Enterprise Executive to Management Position

FOR IMMEDIATE RELEASE: WEDNESDAY, FEBRUARY 25, 1998.

WHITE PLAINS, N.Y., FEBRUARY 25, 1998 -- Caltex Petroleum Corporation has announced the appointment of Joseph Bernitt, currently the Vice President, Marketing, of Star Enterprise, to the Caltex International Marketing Center in Singapore. Mr. Bernitt will be a Caltex Vice President and a member of its Management Committee.

Mr. Bernitt, 55, joined Caltex in 1960 and transferred to Texaco in 1965. He has held several marketing positions in Texaco since then in Europe and the U.S. Most recently, he led Texaco's Global Brand Initiative and the introduction of Star's new retail format, Star 21.

Caltex Chairman and CEO David Law-Smith said, "Joseph Bernitt brings extensive experience in the competitive markets of the U.S. and Europe, as well as a successful record of leading marketing organizations to improve their supplier and customer relationships." Mr. Bernitt will be located in Singapore.

Star Enterprise is a refining and marketing joint venture company owned equally by Texaco and by Saudi Aramco. It operates in the eastern and Gulf Coast states of the U.S.

Caltex Petroleum Corporation, jointly owned by Texaco and Chevron, refines and markets petroleum products through subsidiaries and affiliates in over 60 countries. Its corporate office is in Irving, Texas.

Updated: February 1998