Chevron World Challenge presented by Bank of America

THOUSAND OAKS, Calif. (Dec. 17, 2008) - Tournament host Tiger Woods kicked off the Chevron World Challenge today with a media conference at Sherwood Country Club, where he said he wished he could play in the event that begins Thursday.

"It's frustrating because it means so much to me to come back here to Southern California, and the support we've gotten over the years.  We couldn't have built the Learning Center without the support of the local community and this tournament.

"I want to be out there and competing and trying to mix it up with the boys, but it is what it is, and unfortunately it's not going to happen this year, but I look forward to next year coming back."

Woods, a four-time champion of the event, is recovering from ligament replacement surgery in his left knee and hasn't announced his playing schedule for 2009.

On the sideline this week, Woods will oversee a talented 16-player field that is competing for $5.75 million in prize money in a 72-hole stroke play format at the 7,027-yard Jack Nicklaus-designed layout.  Proceeds from the event benefit the Tiger Woods Foundation.

Woods also announced today that next year's Chevron World Challenge will award Official World Golf Ranking points to players, a first for an unofficial PGA  TOUR event.

Vijay Singh, who won the FedEx Cup, is among the contenders for the $1.35 million winner's check, but the competition is fierce and features two players new to the top 10 - Anthony Kim and Camilo Villegas.  Also included are Ryder Cup players Justin Leonard, Hunter Mahan, Boo Weekley, Steve Stricker, Jim Furyk, Kenny Perry, Ben Curtis and Paul Casey.

Fred Couples, Luke Donald, K.J. Choi and Stephen Ames are fan favorites and certain to contend.

Tiger Woods Foundation
Since its inception in 1996 by Tiger Woods and his father Earl, the Tiger Woods Foundation has reached an estimated 10 million young people through character development, career exploration and grant making programs.  Programs developed and supported by the Tiger Woods Foundation all share a similar mission of empowering young people to dream big and to set specific goals to achieve their dreams.

Launched in February, 2006, the Tiger Woods Learning Center is an innovative 14-acre, after school campus designed to inspire career exploration. Serving members in grades 5 through 12, classes include forensic science, robotics, engineering, aerospace, video production and marine biology. Tiger's Action Plan-based on Earl Woods' best-selling book, Start Something-is a free program for youth 8-17 that addresses three priorities: character education, volunteer service and career exploration. Through participation in TAP, youth define a specific personal goal and develop an action plan to achieve it while giving back to their community and exploring careers that fit within their areas of interest. More information on the Tiger Woods Foundation and its programs can be found at tigerwoodsfoundation.org.

Chevron
Chevron Corporation is one of the worlds leading integrated energy companies, with subsidiaries that conduct business across the globe. The company's success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products and services; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif.  More information on Chevron is available at www.chevron.com.

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. Visit www.bankofamerica.com for more information.

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