press release

Texaco Press Release - Kenneth Knatz Appointed Director -- New Business Development in Latin America

FOR IMMEDIATE RELEASE: WEDNESDAY, JANUARY 13, 1999.

HOUSTON, Jan. 13 - Kenneth Knatz has been named Director of New Business Development for Texaco Latin America effective January 1, 1999, it was announced today by Claire S. Farley, Vice President of Texaco Inc. and President of Exploration and New Ventures.

This appointment is part of Texaco's recently announced worldwide upstream reorganization which was undertaken to place a greater emphasis on the company's long-term production and reserve growth and to address the need for streamlining costs and improving competitiveness. Knatz will be part of the recently formed Exploration and New Ventures group led by Farley.

Knatz currently serves as Marketing Vice President for Texaco International Limited's Andean region located in Bogota, Colombia. In his new position, he will have responsibility for capturing new upstream opportunities in Latin America.

In making the announcement, Farley said, "Ken brings a wealth of operating experience, business acumen and knowledge of Latin America to his new position. Those skills are important as Ken leads our effort to find valuable new oil and gas resources to pursue in Latin America."

Knatz was graduated from New Jersey Institute of Technology in 1968 with a bachelor of science degree in chemical engineering and later received a masters of business administration degree from Nova University in Florida in 1989.

Knatz joined Texaco in 1968 as a Process Engineer in Texaco's Manufacturing Department. Knatz held a number of positions of increasing responsibility in the Petroleum Products Division of the Manufacturing Department and in 1976 was named Senior Project Engineer in the same department.

In 1978 Knatz joined Texaco's Latin America/West Africa Division as Assistant Manager for Refineria Texaco de Honduras and in 1982 Knatz was named Manager of Texaco Mexicana. Knatz relocated to Harrison, N.Y., in 1985 and was named Assistant to Management in the office of the President of Texaco Inc. In 1987 he was named President of Operations in Panama and in 1990 he was appointed Quality Director for Latin America/West Africa.

The following year, Knatz was appointed Division Manager responsible for exploration, production and marketing activities in Columbia for Texaco International Limited. In 1993 he was named to his present position of Andean Region Director of Marketing and later named Marketing Vice President.

In this new position he will relocate to Caracas, Venezuela

Updated: January 1999