press release

Texaco Press Release - Gregory M. Vesey Appointed General Manager of Texaco Upstream Business

FOR RELEASE: TUESDAY, AUGUST 8, 2000

HOUSTON, Aug 8 - Gregory M. Vesey has been appointed General Manager of Texaco's Upstream Business Service Center, effective September 1, it was announced today by John A Gatens, Texaco Worldwide Upstream Chief Financial Officer.

In his new assignment, Vesey will be responsible for the formation and operation of the newly created Upstream Business Service Center which will be located in Houston and will process financial, land and production allocation activities in support of Texaco's exploration and producing operations in the United States. Certain support activities for other U.S. based operations also will be provided by this center.

The formation of the Upstream Business Service Center is a key result of Project IMPACT, a global re-engineering initiative announced in September 1999, which is designed to improve many of Texaco's major business processes.

Vesey will report to Gatens who, commenting on the appointment, said, "Greg's broad experience and understanding of the company's operations combined with his proven track record of successfully handling new and unique business opportunities will be of great value in the successful formation of our newly developed Upstream Business Service Center. His focus on results will ensure that Texaco will have business support capabilities that rank among the leaders within industry."

Vesey was graduated from Northwestern State University in 1980 with a bachelor of science degree in business/finance and earned a Certified Public Accountant certificate in Texas in 1991. He joined Getty in 1980 as an accountant and became an employee of the Texaco Comptrollers Department in Houston in 1984 when Texaco acquired Getty Oil Company.

Vesey was named Assistant Accounting Manager in the Comptroller's Department, U.S. Producing Accounting in 1989 and appointed Assistant to the Vice President and Comptroller in White Plains, New York, in 1992. He transferred to Houston as Manager - Corporate Systems and Planning in 1994, and was named Director - Business Systems Management within the Comptroller's Department in 1996.

Vesey was named Assistant to the Chairman of Texaco Inc. in 1998 and relocated to Texaco's Corporate Center in White Plains. In 1999, he was appointed Vice President of Electronic Business and has been responsible for leading Texaco's electronic business initiatives. He will continue to oversee e-business activities until a successor is named.

In his new assignment, Vesey will relocate from White Plains to Houston.

Updated: August 2000