Press Release

SAN ANTONIO – After capturing its highest ranking ever on the annual list of the “100 Best Companies to Work For in America,” Valero Energy Corporation (NYSE: VLO) announced that it is one of five companies on the prestigious list selected to receive a special award.

The Great Place to Work Institute, which compiles the “100 Best” list for FORTUNE Magazine, will present the Pride Award to Valero tomorrow at its national conference in Washington, D.C.

Based largely on the confidential employee surveys conducted for the “100 Best” rankings, these awards highlight the five qualities that the Institute considers to be the key to creating a great place to work.

In addition to recognizing Valero employees for their pride in the company, the Institute is honoring Wegmans Food Markets for credibility; CDW Corporation, a computer-products provider, for respect; American Express for fairness; and the law firm of Alston & Bird for camaraderie.

“This recognition is especially meaningful because the one word that best describes our culture is pride – pride in our company, our jobs, our communities and our co-workers. That is why this award is particularly appropriate and significant to Valero and its employees,” said Bill Greehey, Valero’s chairman and CEO.

The judges said that they chose Valero because of the “ownership and pride the employees take in the company.”

They also noted the company’s unique spirit and practices that have created a “culture of pride.”

This past December, Valero reported that it had risen to no. 32 from last year’s ranking of no. 70 on FORTUNE’s “100 Best” list.

Valero’s ranking has risen every year since it first made the list at no. 93 in 1999.”We take great pride in this recognition because it is primarily based on employee input, which shows that our employees are happy in their jobs,” said Greehey.

“And when you consider the fact that we have had such explosive growth over the past six years – adding 14 refineries and about 4,500 retail outlets, and merging two Fortune 500 companies – the fact that we have been able to maintain Valero’s special culture and enjoy such high employee morale is even more amazing.”

Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 20,000 employees and annual revenues of more than $38 billion.

The company currently owns and operates 15 refineries throughout the United States, Canada and the Caribbean. Valero’s refineries have a combined throughput capacity of approximately 2.4 million barrels per day, which represents approximately 10 percent of the total U.S. refining capacity. Valero is also one of the nation’s largest retail operators with over 4,500 retail outlets in the United States, Canada and the Caribbean under various brand names including Diamond Shamrock, Ultramar, Valero, and Beacon.