Press Release

ChevronTexaco Signs NASCAR Winston Cup Sponsorship Contract With Chip Ganassi Racing with Felix Sabates

Jamie McMurray to Drive Havoline Dodge in 2003

MOORESVILLE, N.C., Sep 7, 2002 -- ChevronTexaco (NYSE: CVX) today announced that a multi-year sponsorship contract has been signed with Chip Ganassi Racing with Felix Sabates for its Havoline brand. Jamie McMurray will drive the Havoline Dodge for the Ganassi team in the 2003 NASCAR Winston Cup Series season. The terms of the contract were not disclosed.

Commenting on the announcement today, ChevronTexaco's Vice President of North American Lubricants, Mark Nelson said, "ChevronTexaco is thrilled to continue our participation in NASCAR racing by teaming with Chip Ganassi Racing and to continue our long standing involvement in the NASCAR Winston Cup Series. Havoline has a long history in NASCAR, and in this tradition, we look forward to pairing with a proven winner like Chip Ganassi."

"While we have truly enjoyed working with Robert Yates Racing over the years, we are excited about entering this next chapter in our successful NASCAR sponsorship," said Nelson.

Robert Yates said, "Havoline and Robert Yates Racing have been together for a long time, but sometimes change is good for everyone involved and I am confident that everyone will come out of this change with a winning program."

Jamie McMurray is also looking forward to being a part of the new racing team and to run for the Rookie-of-the-Year title in the 2003 NASCAR Winston Cup Series. "This is the right move for me, and I am pleased to be part of Chip Ganassi Racing with Felix Sabates. Chip's use of new technology has been introduced into every aspect of his NASCAR Winston Cup Racing teams. I am especially proud to drive ChevronTexaco's Havoline car. Havoline has been an excellent sponsor in NASCAR for many years, and I am very humbled to be driving for them."

McMurray is currently racing in his second full season in the NASCAR Busch Series Grand National Division. He has steadily moved his way up to ninth in the Busch Series championship points standings with two top-5 finishes and nine top-10 finishes in 25 races.

Nelson continued, "For Havoline fans, we are proud to continue associating our brand with championship caliber race teams that support the performance of our product and create great business opportunities for our company on and off the track."

"The Havoline brand is a good fit with Ganassi's proven results in racing, his championship caliber team and his strong and reputable marketing organization," said Nelson.

Team owner Chip Ganassi said, "The addition of ChevronTexaco adds a lot of experience and energy to this team. Havoline has a successful history in NASCAR, and I am excited about our new partnership with them. Jamie is a sought after young driver with a great work ethic and the talent to win a lot of races in the future, and we will provide him with every resource and opportunity to succeed on our team. Our company is about winning races and championships, and adding value to our sponsor's investments; and we hope to do both for Havoline."

About ChevronTexaco:

ChevronTexaco Corporation is one of the world's largest integrated energy companies. ChevronTexaco Global Lubricants is a marketer of technologically advanced lubrication products and value-added services for a variety of consumer, commercial and industrial applications. Its Havoline branded motor oils are designed to combat the extreme demands of modern motoring and provide outstanding engine protection and performance. For more information, visit

About Chip Ganassi:

Following a successful career as a driver, Chip Ganassi set his sights on ownership in 1988. The Target Chip Ganassi Racing team earned Championship Auto Racing Teams (CART) championships in four consecutive years from 1996 through 1999. In 2000, driving for the first time on the 2.5-mile oval in a different styled open-wheel car, Target Chip Ganassi Racing's Juan Montoya blew away the competition in the Indianapolis 500, claiming the title for his team, which had not raced at the famed brickyard since 1995. Ganassi entered NASCAR Winston Cup Series racing in 2000, and with Sterling Marlin currently leading the point standings, Ganassi appears to be building for continued success.

SOURCE ChevronTexaco