SAN ANTONIO--(BUSINESS WIRE)--Sept. 20, 2006--Valero Energy Corp.
(NYSE:VLO) made history when the company announced that the Valero Texas Open at La Cantera has raised $7 million for charity -- the largest contribution of any tournament in the PGA TOUR's history. With this unprecedented donation, the Valero Texas Open has set its fifth consecutive record for charitable contributions and taken its spot as the top charitable fundraiser on the PGA TOUR.

"It's hard to believe how far we've come in so little time," said Valero Chairman Bill Greehey. "This is the fifth year we've sponsored the tournament, and each and every year, we have increased the contribution by $1 million or more.

"Before Valero took over sponsorship of the tournament, the most it had ever raised for charity was $500,000. This year's charitable contribution is 14 times more than that amount. This record $7 million contribution should be No. 1 on the TOUR this year," he said.

Joining in the announcement that the tournament has blown past last year's record $5.35 million contribution and this year's goal of $6 million were Defending Champion Robert Gamez and PGA TOUR Vice President of Tournament Business Affairs Duke Butler. At one of the Valero Texas Open Pro-Am events, a giant vault was rolled onstage and the door was thrown open to reveal Gamez holding a money bag containing the contribution amount. The record contribution was unveiled as confetti cannons and music punctuated the moment, and children from the benefiting charities ran through the crowd showering guests with commemorative million-dollar bills.

PGA TOUR Commissioner Tim Finchem said, "All of us at the PGA TOUR salute Valero Energy Corporation's Chairman Bill Greehey, the senior staff and employees of Valero and the board, staff and volunteers of Golf San Antonio for this tremendous charitable accomplishment. When you look back on their first $1.8 million contribution just five years ago, it's phenomenal to see a nearly four-fold growth in charitable giving through the combined efforts of Valero, its business partners and the tournament. We send our heartiest congratulations on this remarkable achievement."

Butler who also praised Valero said, "The passion that Bill Greehey has poured into the San Antonio tournament is really unsurpassed on the PGA TOUR. In the first 30 years of the Texas Open, a total of $4.1 million was raised for charity. In the last five years, since Valero took over as the tournament's title sponsor, they have raised $21 million for charity. That kind of dramatic increase in charitable contributions is unprecedented."

Valero & Its Business Partners Raise Lion's Share of Contribution

Valero and its vendors and business partners are responsible for 90 percent of the sponsorship revenues generated by the Valero Texas Open and the Valero Benefit for Children Golf Classic. In fact, the lion's share of the charitable donation is raised by the Benefit for Children Golf Classic, which is the company's charity tournament held on the heels of the Valero Texas Open, Sunday, Sept. 24-Monday, Sept. 25. A record-breaking 2,000 participants will be playing golf on eight local courses -- two more than last year -- at this year's Benefit for Children Golf Classic. The event also has drawn an unprecedented number of sponsors, including 17 companies that have pledged between $100,000 and $500,000 each.

A large portion of the Benefit for Children proceeds will go to San Antonio non-profit organizations that do everything from provide shelter to abused and abandoned children; offer educational and recreational programs for at-risk youth; help children who have disabilities; and much more. Some of the proceeds also will benefit children's charities in other communities where Valero has operations throughout the U.S., Canada and Aruba. All of the beneficiaries, which will be announced within the next couple of weeks, were nominated and chosen by Valero employees.

"Valero Energy Corporation is to be commended for its efforts on behalf of children's charities," said San Antonio Mayor Phil Hardberger. "Its sponsorship of the Valero Texas Open has taken the tournament from the very bottom rankings of PGA TOUR events in terms of charity contributions to the No. 1 spot in just five years. By focusing their efforts on children's charities, the people of Valero and their business partners are improving the lives of young people across North America and the Caribbean, and of course right here in San Antonio."

Golf San Antonio Partners Swing Into Action for Charity

Golf San Antonio (GSA), which organizes the Valero Texas Open, raises charitable dollars through its Pro-Am events; the Birdies for Charity program in which nonprofit organizations solicit pledges for every birdie made during tournament week; and Chip In for Schools whereby schools sell discounted tickets to the tournament and every dollar collected goes back to the schools.

"Golf San Antonio has done a great job of organizing a first-class tournament," said Greehey. "Their board and advisory board members, volunteers and employees work year-round with Valero's employees to make the tournament a success."

Swing by the Valero Texas Open

The Valero Texas Open runs Thursday, Sept. 21-Sunday, Sept. 24 at the Westin La Cantera Resort. Tickets to the tournament can be purchased through schools participating in the Chip In for Schools program by calling 210-345-3818 or going online at www.golfsanantonio.org. Chip In for Schools gives area schools and school programs the opportunity to sell tickets at a discounted price of $10 (advance tickets are $15 and tickets sold at the gate are $20). Every dollar collected from now until Sunday, Sept. 24 will go back to the schools. Those purchasing tickets directly from Golf San Antonio can select a participating school to receive the funds.

Additionally, tickets can be purchased for $15 at area Valero Corner Stores through the end of tournament week. For a list of participating stores, visit www.golfsanantonio.org. Tickets can also be purchased at the tournament gate for $20. Children (17 and under) and spectators with a valid student or military ID will receive free admission.

About the Valero Texas Open

The Valero Texas Open, which is an official PGA TOUR event, is held annually in San Antonio and attracts 144 of the PGA TOUR's top players. The 2005 champion, Robert Gamez, shot a 6-under 64 in the final round for a three-stroke victory, securing his third championship on TOUR. The Texas Open is known as the oldest tournament to have been held in the same city since its inception in 1922, and it is the third oldest tournament on the PGA TOUR and fifth oldest professional golf tournament in North America.

About Valero Energy Corp.

Valero Energy Corp. is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenues of more than $80 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with approximately 5,500 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.

Copyright Business Wire 2006

Valero Energy Corp

Valero Energy Corp

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