press release

Texaco Press Release - Ira D. Hall Elected Treasurer of Texaco Inc.

FOR RELEASE: TUESDAY, SEPTEMBER 28, 1999.

WHITE PLAINS, N.Y., Sept. 28 - Ira D. Hall has been elected Treasurer of Texaco Inc. effective October 1, it was announced today by Patrick J. Lynch, Texaco Inc. Senior Vice President and Chief Financial Officer. Hall, 55, who most recently served as General Manager of Alliance Management, succeeds James F. Link, who has been elected Texaco Inc. Vice President, with oversight responsibility for the Finance and Risk Management Departments.

As Treasurer, Hall will be responsible for Texaco's worldwide banking and finance activities, including credit administration, corporate finance and cash management. He also will serve as Financial Manager of the company's pension and benefits plans.

"Ira Hall brings extensive financial management experience as well as a firm understanding of Texaco's worldwide operations to this position. His demonstrated leadership skills will be a tremendous asset to the Finance Department," said Lynch.

Hall was graduated from Stanford University with a bachelor of science degree in electrical engineering and a masters of business administration degree. Prior to joining Texaco in June 1998, Hall held a series of positions with IBM Corporation, including Director of Business Development for IBM Global Services, Director of International Operations, Treasurer of IBM U.S. and Controller of IBM World Trade Corporation. Before joining IBM, he served as Senior Vice President of L.F. Rothschild, Unterberg, Towbin, Inc., a New York investment banking firm.

Hall currently serves on the Board of the Jackie Robinson Foundation and the Dean's Advisory Council of the Stanford Graduate School of Business. He previously has served on the Board of Directors of Southern New England Telecommunications Corporation (SNET) and the board of trustees of Stanford University. Hall served as chairperson of the National Advisory Board to the Thrift Depositor Protection Oversight Board, which included the Secretary of the Treasury and the Chairman of the Federal Reserve Board.

Updated: September 1999