Top Proxy Voting Advisors Recommend Teamsters' Country Selection Criteria Proposal...

Top Proxy Voting Advisors Recommend Teamsters' Country Selection Criteria
Proposal at Chevron

RiskMetrics Group, PROXY Governance Support Transparency on Chevron's Country
Risks Assessments

WASHINGTON, May 18 /PRNewswire-USNewswire/ -- In recent reports, two leading
independent proxy advisory firms -- RiskMetrics Group and PROXY Governance,
Inc. -- recommended shareholders vote for the Teamsters' shareholder proposal
calling on Chevron Corp. (NYSE: CVX) to disclose the criteria under which it
starts and ends investments in high-risk countries such as Burma. The
proposal, listed as item No. 8 on the proxy card, goes to a vote at Chevron's
May 27, 2009 annual meeting of shareholders.

"We're very pleased that both RiskMetrics Group and PROXY Governance, Inc. are
supporting our call for Chevron to be transparent about the standards it uses
to assess high-risk countries for potential or continued investment," said
Teamsters General Secretary-Treasurer C. Thomas Keegel. "Chevron's decisions
related to Burma -- whose ruling military regime is notorious for brutal human
rights violations -- expose the company to staggering risks and raise
questions about the adequacy of Chevron's current country selection criteria."

Chevron, in partnership with Total of France, the Petroleum Authority of
Thailand, and Myanma Oil and Gas Enterprise, holds equity in the largest
investment project in Burma: the Yadana gas-field and pipeline, which is
reportedly the single largest source of income for the Burmese military
regime.

Through its stake in the Yadana project, Chevron has exposed the company to
extraordinary legal and financial risks arising from litigation for human
rights abuses, the risk of expropriation or impairment of assets by the
Burmese military regime, and substantial reputation and political risks that
could affect Chevron's bottom line. Chevron also does business in other
high-risk countries, including Angola, Kazakhstan, and Nigeria.

Chevron's current country selection criteria are opaque, and investors lack
the information they need to evaluate Chevron's in-country risk oversight
procedures and make informed choices regarding Chevron's governance.

Co-filers joining the Teamsters' demand for disclosure include the AFL-CIO,
Ms. Adelaide Gomer, The Maryknoll Fathers and Brothers, Mercy Investment
Program, Newground Social Investment, the Unitarian Universalist Association,
and the Ursuline Sisters of Tildonk.

Founded in 1903, the International Brotherhood of Teamsters represents 1.4
million hardworking men and women in the United States, Canada and Puerto
Rico.

SOURCE International Brotherhood of Teamsters

Galen Munroe of the International Brotherhood of Teamsters, +1-202-624-6904,
gmunroe@teamster.org