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Corporate Name Change For Caltex

17 May 2006

Corporate Name Change For Caltex

Caltex New Zealand Limited today announced a change of corporate name to Chevron New Zealand, bringing it into alignment with its global parent, Chevron Corporation.

Chevron Corporation is one of the world’s largest integrated energy companies, with annual sales of $193 billion and assets of $125 billion. It employs 53,000 people in 180 countries. Formerly named ChevronTexaco, the corporation changed its global name in May 2005, saying the change presented “a clear, strong and unified presence for the company across the globe”.

Chevron New Zealand will not be a limited liability entity; liability will extend through a holding company in Singapore and ultimately to the multi-billion dollar global corporation, as part of an internal business restructure. In all other respects, existing relationships and contracts with business partners in New Zealand will not be affected.

Chevron New Zealand Country Chairman Nick Hannan said the company’s well-known retail brands will be retained.

“While our corporate name is changing, our well-known retail brand names will remain the same. We will continue to support our retail business through our powerful and respected retail brands Caltex and StarMart. We will also retain our broad portfolio of product and lubricant brands such as Havoline and Delo,” he said.

As part of the name change, Chevron New Zealand is changing its corporate logo to more clearly convey that it is a contemporary and forward-looking company. The new Chevron Hallmark, consisting of the Chevron name and bold blue and red colours of the band, replaces the Caltex New Zealand Limited workmark, but not the Caltex product brand.

The new corporate brand represents a fully integrated energy company with presence in markets around the world and at every stage of the value-chain.

“We will continue to offer, under the Caltex, StarMart and our respected suite of lubricants brands, the highest quality products and services to meet and exceed customer expectations, with the vision of being number one in the hearts and minds of our customers,” said Nick Hannan.

“This latest enhancement to our country presence will identify us as part of one of the largest integrated energy companies in the world and take us a further step towards our vision to be the global energy company most admired for our people, partnership and performance.”

ENDS

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