Chevron Shareholders Support Teamsters Country Selection Criteria Proposal

Shareholder Proposal Receives More Than 25 Percent of Vote

WASHINGTON, May 27 /PRNewswire-USNewswire/ -- Today, the Teamsters' proposal
calling on Chevron (NYSE: CVX) to disclose the criteria it uses to start and
end investments in high-risk countries received support from more than 25
percent of the shares cast at the company's annual meeting. The strong show of
support at Chevron's shareholder meeting indicates growing investor concern
around Chevron's controversial stake in Burma.

Through its equity in the Yadana gas-field and pipeline, Chevron plays a
pivotal role in providing financial support to the Burmese military regime,
notorious for its brutal repression of democracy and systematic violations of
human rights. The Yadana project is reportedly the single largest source of
income for the regime.

"We're pleased that other Chevron shareholders recognize the enormous legal,
financial, political and reputational risks associated with operating in Burma
and are demanding increased disclosure on how these decisions are made," said
C. Thomas Keegel, General Secretary-Treasurer of the International Brotherhood
of Teamsters.

"And in the case of Burma, this is not merely a matter of location," Keegel
said. "The Burmese military junta is one of Chevron's partners in Yadana
through its military-run oil company, Myanma Oil and Gas Enterprise. That
makes Chevron business partners with a pariah military regime that has
brutally dominated the people of Burma and that has put a Nobel Peace Prize
recipient, Aung San Suu Kyi, under house arrest. What political risk
assessments allowed this to happen?"

The Teamsters' proposal requests that Chevron disclose the standards it uses
to assess high-risk countries like Burma for potential or continued
investment. 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 of the proposal 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 International Brotherhood of Teamsters, +1-202-624-6904,
gmunroe@teamster.org