press release

Texaco Press Release - John A. Gatens Named Chief Financial Officer

FOR IMMEDIATE RELEASE: TUESDAY, MAY 5, 1998.

WHITE PLAINS, N.Y., May 5 - John A. Gatens has been appointed Chief Financial Officer of Texaco Worldwide Exploration and Production, it was announced today by John J. O'Connor, Texaco Inc. Senior Vice President and President, Texaco Worldwide Exploration and Production. In his new role, which is effective June 1, Gatens will relocate from Harrison, N.Y., to Houston, Texas. Gatens currently is Assistant Comptroller of Texaco Inc.

"The combination of John Gatens' fiscal expertise and his understanding of the international oil business will be a tremendous asset to our upstream team," commented O'Connor. "I look forward to his contributions as we plan and execute strategies for achieving Texaco's ambitious growth plans."

Patrick J. Lynch, Texaco Inc. Senior Vice President and Chief Financial Officer noted, "John Gatens will bring a unique perspective to the Worldwide Exploration and Production Division. His sharp business acumen will be of great value as the division pursues new and innovative projects."

Gatens was graduated from Pace University with a bachelor of science degree in accounting in 1969. He joined Texaco's Comptroller's Department in New York that same year and, after holding various supervisory and accounting positions, in 1982 he was named Manager - International Accounting in Harrison, New York. In 1985, Gatens was named Comptroller of Texaco Limited, the company's U.K. subsidiary, and in 1989, he was appointed Finance Director of that subsidiary.

Gatens returned to Harrison in 1991 as Fiscal Director of Texaco Europe. In 1993, he was named Assistant Comptroller, with coordinating responsibility for Texaco's productivity improvement initiatives. He assumed his current assignment in 1994, responsible for the management of accounting activities that support Texaco's international operations.

Updated: May 1998