SAN RAMON, CA - ChevronTexaco today issued its 2003 Corporate Responsibility Update, providing highlights of the progress and challenges of the company's global social, economic and environmental performance.

"The success of our company is directly tied to the economic and social health of the communities where we do business. So, wherever we operate we look for opportunities to improve people's lives in partnership with local communities," said Dave O'Reilly, Chairman and CEO of ChevronTexaco. "This report highlights our progress in 2003 and the challenges we face going forward."

The 2003 update builds on ChevronTexaco's inaugural report issued last year. This year's interim report highlights several specific examples of the company's performance:

• Award for Corporate Excellence: Chevron Nigeria Limited (CNL), a subsidiary of ChevronTexaco, received the U.S. State Department's Award for Corporate Excellence for its citizenship activities in Nigeria. The award cited a CNL airlift of 2,000 villagers to safety during interethnic and political conflicts in the western Niger Delta, a Riverboat Clinic that brought healthcare to thousands of people in the Niger Delta and ongoing HIV/AIDS prevention efforts in the country.
  
• Angola Partnership Initiative: In partnership with the United States Agency for International Development, the United Nations Development Program and other organizations, ChevronTexaco continued its participation in a $50 million effort to build human capacity and a higher standard of living for communities across the country. In 2003, more than 660,000 Angolans benefited from this unique agricultural and development program.
  
• HIV/AIDS Initiatives: ChevronTexaco finalized its corporatewide HIV/AIDS policy and initiated a partnership with the Global Fund to Fight AIDS, Tuberculosis and Malaria in Africa. In Angola, the company expanded its program to include the provision of anti-retroviral drugs to ChevronTexaco employees and their families.
  
• Safety: ChevronTexaco recorded its safest year ever in terms of overall recordable incidents. Despite this record, the company had 12 fatalities, with motor vehicle accidents remaining the most frequent cause of death. ChevronTexaco continually strives to improve this record.
  
• Spill Performance: The volume of petroleum spilled fell by more than 50 percent from the previous year, exceeding the company's year-over-year target of a 20 percent reduction through 2006.
  
• Climate Change: In 2003, ChevronTexaco initiated a third-party verification of greenhouse gas emissions, which enabled the company to set an emissions goal for 2004 with the assurance that the goal is based on sound and robust baseline data. ChevronTexaco's goal is to find ways to meet growing energy demand while reducing long-term growth in greenhouse gas emissions.
  
• Community Engagement and Development: Community investments totaled $61 million worldwide. During 2003, ChevronTexaco also continued to focus its community engagement activities toward enabling economic development and building human and institutional capacity in areas where it operates and that are in most in need of support.

ChevronTexaco's next comprehensive Corporate Responsibility Report will be published in 2005. It will cover 2004 performance and will provide a more detailed discussion of the company's progress on the full spectrum of corporate responsibility issues.

The report is available at www.chevrontexaco.com/cr_report/2003/

Currently celebrating its 125th anniversary, ChevronTexaco is one of the world's leading energy companies. With more than 50,000 employees, ChevronTexaco conducts business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products. ChevronTexaco is based in San Ramon, Calif. More information on ChevronTexaco is available at www.chevrontexaco.com

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Chevron Corporation: OLD DO NOT USE

Chevron Corporation provides administrative, financial, management and technology support to U.S. and international subsidiaries that engage in the operation of petroleum, chemicals, mining, power generation and energy services.