press release

Texaco Press Release - Scott Brown Named President, Texaco Global Products

FOR IMMEDIATE RELEASE: Thursday, November 9, 2000

WHITE PLAINS, N.Y., November 9 - Scott Brown has been named President, Texaco Global Products (TGP), it was announced today by Texaco Inc. Senior Vice President and President of Global Businesses, Glenn F. Tilton. Brown replaces Tom Neslage, who has been named Senior Vice President, Global Sales and Marketing for Energy Conversion Devices, Inc.

Making the announcement, which is effective immediately, Tilton said: "Texaco Global Products has aggressively expanded Texaco-branded lubricants, coolants and fuels additives into many new markets. Scott's depth and range of experience, gained in the United States and internationally, will ensure the continued success of the business worldwide."

In his new role, Brown will have oversight responsibility for Texaco's global lubricant activities; coordination of worldwide sales and account management; and TGP's worldwide sponsorships. In addition, he will have direct management responsibility for Texaco's lubricant business in Europe and Canada, as well as Texaco's coolant and fuels additives businesses globally. He also retains responsibility for the purchase and supply of related raw materials and for Texaco's international lubricant, coolant and fuels additives product development.

Brown joined Texaco in 1970 after graduating from Iowa State University with a bachelor of science degree in chemical engineering. Since joining the company, he has held a number of positions of increasing responsibility, both in the United States and in Europe. Most recently, he was Vice President, Technology, Manufacturing, Supply and Distribution within Texaco Global Products.

In his new position, Brown will continue to be based in Houston, Texas.

This press release contains a number of forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In particular, statements made concerning Texaco's expected performance and financial results in future periods are based upon Texaco's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors known to Texaco, among others, could cause Texaco's actual results to differ materially from those described in the forward-looking statements: inaccurate scientific data; mechanical, chemical and technological failures; decreased demand for fuels and other products; above or below-average product demands; worldwide and industry economic conditions; higher costs, expenses and interest rates; the outcome of pending and future litigation and governmental proceedings; continued availability of financing; and strikes and other industrial disputes. In addition, you are encouraged to review Texaco's and ECD's latest reports filed with the SEC, including, but not limited to, Texaco's Annual Report on Form 10-K filed with the SEC on March 24, 2000, which describes a number of additional risks and uncertainties that could cause actual results to vary materially from those listed in the forward-looking statements made in this press release.

Updated: November 2000