press release

Texaco Press Release - James E. Baker Joins Fuel and Marine Marketing LLC as General Counsel


WHITE PLAINS, N.Y., February 2, 2000 - James E. Baker has joined Fuel and Marine Marketing LLC (FAMM) as General Counsel, it was announced today by Mike Bandy, President of FAMM.

Making the announcement, which is effective immediately, Bandy said: "Jim's strong background in maritime law, contract negotiations and management means he is ideally qualified for his new assignment. With over twenty years in the petroleum business and extensive marine background, he is well equipped to manage FAMM's legal affairs and we are pleased that he has agreed to join our management team."

Baker graduated from Texas Tech University in 1972 with a bachelor of arts degree in finance and went on to gain a doctor of jurisprudence from the same university in 1976. He graduated from the University of Houston with a master of business administration in 1994.

He joined Coastal Corporation in 1976 as an attorney responsible for oil supply and marine transportation-related activities. During his time with Coastal he held several positions of increasing responsibility, including General Counsel for the company's European and Far Eastern oil products trading division, based in London. He has also held positions with Belcher Oil Company in Miami, Florida and Valero Energy Corporation in Houston, Texas.

In his new role, Baker will relocate from Houston to FAMM's corporate headquarters in White Plains, N.Y.

NOTE TO EDITORS: Formed in November 1998, FAMM is a joint venture combining the global residual fuel and marine lubricants marketing businesses of Texaco and Chevron. Texaco holds 69 percent ownership of the company and Chevron has 31 percent.

Updated: February 2000