ChevronTexaco Corporation (NYSE: CVX) and Unocal Corporation (NYSE: UCL) announced today that ChevronTexaco would acquire Unocal in a stock and cash transaction valued at approximately $18 billion, including net debt. The acquisition, which is subject to approvals by Unocal shareholders and certain regulatory agencies, will significantly enhance ChevronTexaco's position as a leading global energy provider. For more details, see http://investor.chevrontexaco.com/ireye/ir_site.zhtml?ticker=CVX&script=410&layout=-6&item_id=691299.