Chevron to become title sponsor of Chevron World Challenge as part of a five-year global collaboration to enhance education for youth

IRVINE, Calif. & SAN RAMON, Calif.--(BUSINESS WIRE)--April 3, 2008--The Tiger Woods Foundation and Chevron said they will join together to enhance and develop programs, activities and events in support of the Foundation. As part of this new relationship, Chevron will assume the title sponsorship of the Chevron World Challenge golf tournament, a significant fundraising event for the Tiger Woods Foundation. The event is held annually at Sherwood Country Club in Thousand Oaks, Calif.

"We are delighted that Chevron has agreed to partner with the Foundation," Tiger Woods said. "Chevron has a track record and a commitment to bettering the communities where they operate. We are excited about working with them to co-develop programs that will further the efforts of the Tiger Woods Foundation."

Mike Wirth, executive vice president of Chevron, said the relationship strongly aligns with the company's values and its commitment to California.

"We are thrilled to begin our relationship with Tiger and his Foundation at home in California," Wirth said. "Strong relationships are based on shared ideals and commitment. Chevron, Tiger and the Tiger Woods Foundation share similar values of high performance and partnership, as well as a deep commitment to make a difference in local communities."

In addition to sponsoring Tiger's annual tournament at Sherwood Country Club, which raises money for the Tiger Woods Foundation, Chevron will also support efforts to expand the Foundation's programs that help young people prepare for successful and responsible careers. Chevron and the Foundation will explore opportunities in California, other locations in the U.S. and in select locations internationally.

"We have great respect for Tiger's personal dedication and for the good work of his Foundation," said Rhonda Zygocki, vice president, Policy, Government and Public Affairs. "Chevron has a strong focus on supporting education in the communities where we do business. We look forward to working with Tiger and the Foundation to combine our resources toward a common goal."

Chevron's community engagement initiatives focus on education, health and economic development. In 2007, the company invested approximately $119 million in community engagement globally, which includes initiatives such as Energy for Learning in the U.S. Gulf Coast and the Discovery Channel Global Education Partnership, as well as a $30 million partnership with the Global Fund to combat HIV/AIDS, malaria and tuberculosis.

As part of this new relationship with the Tiger Woods Foundation, Chevron will become title sponsor for the 2008 World Challenge, which is celebrating its 10th year, and its 9th year at Sherwood Country Club. The Chevron World Challenge, a PGA TOUR event hosted by Woods, features a field of 16 of the top players. Past champions include Woods (2001, '04, '06, '07), Davis Love III ('00, '03), Luke Donald ('05), Padraig Harrington ('02) and Tom Lehman ('99). The total purse for the event is $5.75 million, and no player leaves with less than $170,000.

Chevron will also become a Founding Partner of the AT&T National, a Tiger Woods-hosted tournament at Congressional Country Club in Bethesda, Md., that draws a field of 120 PGA TOUR professionals and raises money for the Tiger Woods Foundation and youth programs in the greater Washington, D.C. area.

About the Tiger Woods Foundation: Since its inception in 1996 by Tiger Woods and his father Earl, the Tiger Woods Foundation has reached an estimated 10 million young people through character development, career exploration, scholarships and grant making programs. Programs developed and supported by the Tiger Woods Foundation all share a similar mission of empowering young people to dream big and to set specific goals to achieve their dreams.

Specific programs of the Foundation include the Tiger Woods Learning Center, a youth-education facility and curriculum based in Anaheim, California that will soon expand to Washington, D.C., and Tiger's Action Plan, a nationwide character development program based on Earl D. Woods' book entitled Start Something. The Tiger Woods Foundation recently launched the Fist Pump Challenge, an online program allowing young people to post videos celebrating a personal goal or achievement. More information on the Tiger Woods Foundation and its programs can be found at www.tigerwoodsfoundation.org.

About Chevron: Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business across the globe. The company's success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

CONTACT:
Chevron Corporation
Donald Campbell, San Ramon, 925-842-2589
or
Tiger Woods Foundation
Rachel Rees / Emily Taylor, Irvine, 949-725-3003

SOURCE: Chevron Corporation