Press Release

ChevronTexaco Donates $1 Million to Yosemite Falls Restoration Project

The Yosemite Fund Honors ChevronTexaco With Corporate Partners Award

SAN FRANCISCO, Aug 30, 2002 -- ChevronTexaco (NYSE: CVX) today furthered its commitment to Yosemite National Park by making a $1 million donation to The Yosemite Fund to help restore and enhance the approach to Yosemite Falls.

The $1 million donation is for The Yosemite Fund's Campaign for Yosemite Falls, a two-year, $12.5 million project to restore natural habitat and improve the visitor experience in the 56-acre area leading up to Lower Yosemite Fall. Every year, one quarter of Yosemite's four million visitors use the area to view North America's highest waterfalls. The project will remove a large parking lot and replace it with a more natural setting, protect stream banks, improve viewing areas, footbridges and trails, add educational, directional signage, and disabled access.

"ChevronTexaco is passionate about preserving our natural resources and protecting the environment," said David J. O'Reilly, chairman and CEO of ChevronTexaco Corp. "This is reflected in our long-term commitment to Yosemite National Park through donations and dedicated volunteers. We value partnership and are proud to continue our relationship with The Yosemite Fund and the National Park Service."

At a ceremony at its corporate headquarters, ChevronTexaco also received The Yosemite Fund's inaugural Corporate Partners Award, for its commitment to preserving and protecting Yosemite National Park.

"The Corporate Partners Award honors ChevronTexaco's dedication to protecting a national treasure and the spirited achievements of its many volunteers," said Sam Livermore, chairman of The Yosemite Fund.

ChevronTexaco is the single largest corporate donor to The Yosemite Fund. Since 1990, ChevronTexaco has contributed $2 million and nearly 35,000 hours of volunteer time by 3,500 employees who have restored the equivalent of 60 acres in Yosemite Valley. Under the direction of the National Park Service, company volunteers will also be able to help with the Yosemite Falls restoration project.

"Yosemite National Park and its visitors benefit from the park's partnership with ChevronTexaco and The Yosemite Fund. Millions of park visitors, for years to come, will experience a more natural Yosemite due to the efforts of ChevronTexaco and its employees," said David A. Mihalic, superintendent of Yosemite National Park.

ChevronTexaco volunteers have helped to restore black oak woodlands, Cook's Meadow and the area around Mirror Lake, planting 100 trees, digging up 300 tons of asphalt, ousting invading non-native plants, digging post holes for protective fencing, landscaping damaged areas and restoring shoreline. The company also has made contributions to the restoration of Stoneman Meadow, fire restoration programs, the 1997 flood recovery fund, Porcupine Flat Campground restoration and Great Grey Owl research.

About The Yosemite Fund

The Yosemite Fund is independent, private nonprofit foundation devoted to protecting, preserving and restoring Yosemite National Park. The Fund has raised more than $18 million for Park wilderness, wildlife and cultural preservation projects. To donate to the Campaign for Yosemite Falls, please call The Yosemite Fund at 415-434-1782 or visit the web site at

SOURCE ChevronTexaco