press release

Texaco Press Release - Mark G. Randall Named Chief Executive Officer and General Manager

FOR RELEASE: WEDNESDAY, AUGUST 30, 2000

LONDON, Aug. 30 - Mark G. Randall has been named Chief Executive Officer and General Manager of Heddington Insurance (U.K.) Limited, effective September 1, it was announced today by Thomas P. Dougherty, Jr., President and Chief Executive Officer of Heddington Insurance Limited and General Manager of Texaco Risk Management.

Randall is currently Senior Vice President, Casualty of Heddington Brokers Limited. In addition to serving as Chief Executive Officer of Heddington U.K., he will continue his broking responsibilities on behalf of Heddington Brokers.

In making the announcement, Dougherty stated, "Mark Randall's insurance market acumen and collaborative skills will strengthen an already outstanding Heddington U.K. team. In addition, the opportunity of bringing our insurance broking operations closer to many of our key underwriters promises greater efficiency, access and responsiveness."

Randall was graduated from The Royal Merchant Naval School in England in 1972. He joined Heddington Brokers in Bermuda in 1984 after assignments in the Middle East, the United Kingdom and Bermuda with the Sedgwick Group. Before joining the Sedgwick Group he served as an underwriter for a syndicate at Lloyds of London. He was appointed to his current position of Senior Vice President, Casualty for Heddington Brokers in 1993, and was named a director of Heddington Brokers in 1995.

Randall succeeds John D. Ryan, who has elected to retire from Texaco and Heddington U.K. on November 1, after twenty-four years of service. Randall will be relocating from Bermuda to London to take up his new assignment.

Heddington Insurance Limited and Heddington Insurance (U.K.) Limited are wholly owned subsidiaries of Texaco Inc. They principally insure Texaco Inc., including its subsidiaries and affiliates, for worldwide property and casualty risks. Heddington Brokers Limited is also wholly owned by Texaco Inc. It is responsible for placing reinsurance for Heddington Insurance and Heddington U.K. in international insurance markets.

Updated: August 2000