press release

Texaco Press Release - Fuel and Marine Marketing LLC Announces Online Marine Lubricant Services

The following press release was issued by Fuel and Marine Marketing LLC.

FOR RELEASE: MONDAY, MAY 7, 2001

WHITE PLAINS, NY, May 7 - Fuel and Marine Marketing LLC (FAMM), the global marine lubricants, coolants and fuels supplier announces the introduction of "eWave", a new online lubricant management system.

Anticipating the needs of tomorrow's marine businesses, the "eWave" solution enables round the clock immediate access to online ordering, real time order tracking and electronic documentation.

"Our 'eWave' product provides benefits both to our marine customers and to FAMM", says George Wall, FAMM's Vice President of Global Lubricants. "It's a perfect example of how Internet technology can be used to improve the efficiency of communications between customer and supplier."

Through the FAMM Internet site (www.fammllc.com) customers and their personnel aboard vessels with Internet capabilities will access the online ordering system and have the ability to price, place and track orders. FAMM's Customer Service Representatives will use the system to monitor and co-ordinate the customer's order at all stages.

"The 'eWave' system is in its final phase of live testing," said Wall. "As we roll out the site to our customers, it will provide real value in terms of business efficiency through improved speed, control and accuracy. With the development of this value added service FAMM has been able to streamline the entire process."

Fuel and Marine Marketing LLC is a joint venture between Texaco and Chevron in the marine fuels and lubricants business. For further information please contact Alzira "Z" Vieira in the U.S. at +1 914 253 6001 or Paul Donaldson in the UK at +44 20 7719 4643.

This press release contains a number of forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In particular, statements made concerning FAMM's expected performance and financial results in future periods are based upon FAMM's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors known to FAMM, among others, could cause FAMM's actual results to differ materially from those described in the forward-looking statements: inaccurate scientific data; mechanical, chemical and technological failures; decreased demand for alternative fuels and other products; above or below-average product and technology demands; worldwide and industry economic conditions; higher costs, expenses and interest rates; the outcome of pending and future litigation and governmental proceedings; continued availability of financing; and strikes and other industrial disputes. In addition, you are encouraged to review Texaco's and Chevron's latest reports filed with the SEC, which describe a number of additional risks and uncertainties that could cause actual results to vary materially from those listed in the forward-looking statements made in this press release.

Updated: May 2001