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CHEVRON ANNOUNCES INTENTION TO SELL HEADQUARTERS BUILDING IN COST-REDUCTION PROGRAM

 SAN FRANCISCO, July 7 /PRNewswire/ -- Chevron Corporation (NYSE: CHV) today announced its decision to sell its 71-year-old headquarters building at 225 Bush Street in San Francisco's financial district.
 "We intend to remain headquartered in one of our two Market Street buildings in San Francisco," said Chevron Chairman Ken Derr. "We simply have more office space than we need after the corporate restructuring and manpower reductions that were initiated last year. This is just one step in our ongoing and nationwide program to reduce surplus office space and cut costs."
 Chevron currently has about 2,000 employees working in San Francisco. Most of the 700 employees in 225 Bush will eventually be transferred to the company's other buildings on Market Street.
 The building at 225 Bush will be put on the market later this year.
 -0- 7/7/93
 /CONTACT: Laurie Sachtleben of Chevron, 415-894-6285/
 (CHV)


CO: Chevron Corp. ST: California IN: OIL SU: RLE

TM -- SF009 -- 9171 07/07/93 16:00 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
Words:163
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