press release

J. CAREY McHUGH APPOINTED VICE PRESIDENT FOR THE SOUTHERN CONE REGION OF SOUTH AMERICA

FOR RELEASE: THURSDAY, FEBRUARY 3, 2000.

WHITE PLAINS, N.Y., Feb. 3 - J. Carey McHugh has been named Vice President, Southern Cone Region of South America for Texaco International Marketing and Manufacturing operations, effective March 1, it was announced today by Eugene Celentano, Vice President of Texaco Inc. and President of Texaco International Marketing and Manufacturing (TIMM).

McHugh, currently Vice President of the Caribbean/Central America Region of TIMM, succeeds Tony C. Blevins who has been appointed Managing Director and Chief Executive Officer of Caltex Australia Limited, an affiliate of Caltex Corporation, the 50/50 joint venture company of Texaco and Chevron. In his new assignment, McHugh will relocate from Coral Gables, Fla., to Rio de Janeiro, Brazil.

As Vice President for The Southern Cone Region of South America, McHugh will be responsible for overseeing Texaco's largest international manufacturing and marketing subsidiary with a network of more than 3,000 retail outlets and 16,000 industrial accounts in Brazil, as well as businesses in Argentina, Bolivia, Chile, Paraguay and Uruguay.

In making the announcement, Celentano said, "Carey's broad domestic and international background in business and marketing management will enable him to continue the growth Texaco has experienced in this region of the world. His understanding of our international business operations and strategic planning skills provide Texaco an additional competitive edge in this important marketplace."

McHugh, 51, joined Texaco in 1971 as a salesman for the company's Southeast Marketing Region in Chattanooga, Tenn., and subsequently served in marketing positions of increasing responsibility. He was named Vice-President Havoline Products Division for Texaco Lubricants Company (TLC) in Houston in 1990 and chaired the company's introduction of its Clean System3 gasoline. He also was a member of the Caltex Checkered Flag Team, which was responsible for launching Havoline Formula3 in the 64 countries throughout the Caltex marketing area. In 1995 he was named Texaco's Regional Director - Caribbean and Central America for the Latin America/West Africa Division, and in 1997 he was appointed to his current position.

McHugh holds a bachelor of science degree in business administration from the University of Georgia.

Updated: February 2000