press release

Texaco Press Release - Texaco Names William M. Wicker Senior Vice President for Corporate Development

FOR RELEASE: TUESDAY, JULY 22, 1997.

WHITE PLAINS, N.Y., July 22 - William M. Wicker is joining Texaco as Senior Vice President, effective August 1, 1997, Texaco Inc. Chairman and Chief Executive Officer Peter I. Bijur announced today. Wicker, 47, currently is Managing Director and Co-Head of the Global Energy Group for Credit Suisse First Boston. In his new position Wicker will head a newly created unit within Texaco, Corporate Development, responsible for the review and management of asset acquisition opportunities consistent with the company's growth strategies.

"Texaco's strategy is to grow our business to be a leader in the complex and competitive global energy marketplace," said Bijur. "Our new Corporate Development team, headed by Bill Wicker, will allow us to better focus our efforts in this direction.

"Bill Wicker's global merger and acquisition experience, coupled with his strong knowledge base of the international energy industry, add significantly to the strength of Texaco's management team. Bill brings to Texaco a wealth of knowledge, capabilities and ideas that will assist us in achieving our objectives."

Wicker joins Texaco after eight years with First Boston and Credit Suisse First Boston. In the last several years, Wicker has been the senior energy banker at Credit Suisse First Boston for transactions representing clients in Italy, the Czech Republic, Russia, Argentina, Brazil, Malaysia and Thailand.

Prior to that Wicker served as Senior Vice President of Kidder Peabody & Co.'s Energy Group in New York, and earlier as a consultant with McKinsey & Co.'s energy practice in Dallas, Texas, from 1983 to 1987.

Wicker was graduated from Union College with a bachelor of arts degree in political science in 1971. He earned a master of arts degree in political science from Indiana University in 1973, and a master of business administration degree from Harvard Business School in 1975. Following Harvard, Wicker joined Moore McCormack Resources Inc. in 1975, and was appointed Vice President of Moore McCormack Energy in 1981.

Bill Wicker is married and has four children. The family lives in New Canaan, Conn.

Updated: July 1998