Valero Promotes Two Executives to Senior Officers of the Corporation.

SAN ANTONIO -- Valero Energy Corporation (NYSE:VLO) today announced that two of its executives have been promoted to senior officers of the corporation.

Kim Bowers, Vice President Legal Services, has been promoted to Senior Vice President & General Counsel. Bowers joined Valero in 1997 as managing counsel and was promoted to Vice President in 2003. She has served as Valero's lead attorney and handled financings for all of the company's recent major acquisitions, including Valero's purchase of Premcor Inc. in 2005. Bowers previously worked for the law firm of Kelly, Hart & Hallman in Fort Worth, Texas. She holds bachelor of arts degrees in Spanish and international studies from Miami University in Ohio, a master of arts degree in international relations from Baylor University, and a juris doctorate from the University of Texas School of Law.

Jay Browning, Vice President & Corporate Secretary, has been promoted to Senior Vice President & Corporate Secretary. Browning joined Valero in 1993, heading up the Corporate Law department. He oversees corporate governance, finance and securities regulations. He also has overseen legal functions involved with the company's major transactions. Browning previously worked for the law firms of Akin, Gump, Strauss, Hauer & Feld, LLP in San Antonio and Baker & Botts in Austin. He holds a bachelor of business administration degree in finance and a master of business administration degree and juris doctorate from Texas Tech University.

Bowers and Browning will continue reporting directly to Valero President Greg King.

"Both Kim and Jay have done an outstanding job over the years and have been instrumental in our record growth and success," King said. "Their promotions are in recognition of the important roles they play and their significant contributions to our success, as well as their role in developing Valero's superior Legal Department."

About Valero

Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and expected annual revenue of more than $75 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with approximately 5,000 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.