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CHEVRON ANNOUNCES INTENTION TO SELL ORTHO LAWN-AND-GARDEN PRODUCTS BUSINESS TO MONSANTO

 SAN FRANCISCO, Jan. 7 /PRNewswire/ -- Chevron Chemical Co., a wholly owned subsidiary of Chevron Corp. (NYSE: CHV), today announced it has signed a letter of intent to sell its ORTHO-brand lawn-and-garden products business to Monsanto Co. (NYSE: MTC).
 The sale price of approximately $400 million includes working capital employed in the operation of the business.
 "ORTHO has been an important part of the Chevron family," said John Peppercorn, Chevron Chemical Co. president. "We are pleased to have met our goal of finding a prospective buyer who intends to maintain and grow the ORTHO-brand business."
 The intended sale is consistent with Chevron's long-term strategy to focus on core businesses.
 Closing of the sale, from which Chevron expects to record a significant gain, is expected during the first quarter of 1993.
 Further details are not available at this time.
 -0- 1/7/93
 /CONTACT: Glenn Weaver of Chevron Chemical, 510-842-5764/
 (CHV MTC)


CO: Chevron Corp.; Chevron Chemical Co.; Monsanto Co. ST: California IN: OIL CHM SU: TNM

TM -- SF010 -- 2850 01/07/93 17:50 EST
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Date:Jan 7, 1993
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