ChevronTexaco Global Lubricants Improves Market Leading Delo 400 Multigrade Diesel Engine Oil

LAS VEGAS--June 10, 2004--

New Formulation Reduces Wear, Improves Soot Dispersancy and Complies with CI-4 Plus Performance Requirements

ChevronTexaco Global Lubricants (CTGL), a leading provider of heavy-duty engine oils, lubricants and coolants, today announced it will introduce a new formulation of its industry leading Chevron Delo(R) 400 Multigrade heavy-duty motor oil. The newly formulated Delo 400 provides improved soot dispersancy and anti-wear characteristics, resulting in superior performance and extended drain intervals in new low-emission engines as well as older on- and off-highway engines. The performance enhancements of the newly reformulated Delo 400 result in improved engine durability and reduced operating costs for fleets and owner operators.

The new Delo 400 formulation also meets the upcoming CI-4 Plus standard. CI-4 Plus is a modification of the CI-4 standard that primarily improves soot thickening performance in new low-emission engines. The new standard is scheduled to take effect in September of 2004.

"No OEM specification or government regulation is driving this reformulation," said Gary Parsons, Commercial Automotive Business Unit Manager for ChevronTexaco Global Lubricants North America. "The new formulation is a result of our constant commitment to product improvement. This commitment, driven by ChevronTexaco's dedication to its customers, is a key reason Delo continues to be the leading performance product on the market."

"Reductions in NOx emissions for 2002 have resulted in more soot entering the engine oil due to cooled EGR, retarded timing and high top piston rings," said Jim McGeehan, Global Manager of Diesel Engine Oil Technology, ChevronTexaco Global Lubricants. "Nevertheless, the new Delo 400 Multigrade reduces soot abrasive wear significantly below the OEM, API CI-4 or JASO DH-1 limits. In addition, we meet the new viscosity control requirements for highly sooted engine oils in the new API CI-4 Plus category."

Delo 400 continues to use ISOSYN(TM) technology, which provides equal or better extended drain capability and fuel economy as synthetic oils, but at a much lower cost.

The new Delo 400 formulation will be available in quarts, gallons, pails, drums, and bulk starting in July 2004.

Delo Lubricants

Delo(R) 400 Multigrade heavy-duty motor oil is an industry-leading, premium-quality, "universal" engine oil that exceeds the performance requirements of naturally aspirated, turbocharged and supercharged diesel and gasoline engines. It provides outstanding protection in existing and new engines, using low or normal sulfur fuels. It provides excellent soot dispersancy, wear protection and sludge control to guard against loss of engine life and to help reduce fuel and oil consumption. Delo(R) Gear Lubricant ESI(R) and Delo(R) Trans Fluid ESI(R) are the first non-synthetic fluids approved by Eaton for their 750,000 extended warranty program. Delo also offers Delo(R) Grease EP, Delo(R) Synthetic Grease SF and Delo(TM) Extended Life Coolant/AntiFreeze (Delo ELC) to round out its complete line of premium heavy-duty lubricants and coolants.

All Chevron Delo products are covered by the Delo Warranty Plus program, which provides bumper-to-bumper protection against any lubricant and coolant related failures.

Chevron Delo products received the Lubricants World Product of the Year Award for two consecutive years, 1999 and 2000, and the Annual Automotive Product Award in 2001. Jim McGeehan, global manager of engine oil technology for ChevronTexaco Global Lubricants, also received Lubricants World's 2002 Person of the Year recognition.

More information on Delo products can be found at: www.chevrondelo.com.

About ChevronTexaco Global Lubricants

ChevronTexaco Global Lubricants (CTGL) is a leader in providing lubrication products and solutions to retail consumers, and commercial and industrial customers. Headquartered in San Ramon, CA, CTGL is ranked among the top three global marketers of lubricants, is active in 186 countries and employs 4,000 employees. Its worldwide presence enables the company to be a local provider of superior service with global resources. CTGL is a division of a wholly owned subsidiary of ChevronTexaco Corporation .

CTGL markets a full line of lubrication and coolant products under the Chevron, Texaco and Caltex brand names. Select brands include Havoline(R), Delo(R), Ursa(R), Revtex(R) and Texaco Xpress Lube(R). The company has patented technology in advanced lubricants products and new generation base oil technology, as well as in more diverse areas such as coolants and crop protection.

For more information go to: www.chevrontexacolubricants.com.