24.07.2006 13:12:00

Tesoro Elects John F. Bookout III to Board of Directors

Tesoro Corporation (NYSE:TSO) announced that John F.Bookout III has been elected to its Board of Directors. Bookout willbe the 10th member of Tesoro's board.

"The Board of Directors and our management team believe John'sextensive global energy experience will add value to the Company'sstrategic and tactical decision making process. His election alsofurthers our goal of adding broad experience and independence to ourboard," said Bruce Smith, Chairman, President and CEO of TesoroCorporation.

Bookout joined McKinsey & Company in 1978 and has spent most ofhis career working in petroleum refining, marketing, exploration anddevelopment, and the natural gas and electric utility industries.Bookout is a Director of McKinsey & Company in their Houston officewhere he was, until recently, responsible for their global industrypractices. He will retire from McKinsey this October.

During Bookout's career, he held numerous leadership roles. Beforerelocating to Texas in 1995, he spent six years as Managing Partner ofits Los Angeles Office and four years in London where he ledMcKinsey's European Energy Practice.

He also served as Managing Partner of the Texas Office, asco-leader of the Firm's North American Energy Practice, and as amember of McKinsey's Shareholders' Committee.

He holds a master's degree in business administration from theStanford Graduate School of Business and a bachelor's degree ineconomics from Rice University.

About Tesoro's Board Members

Tesoro's other board members are: Patrick J. Ward, RetiredChairman, President and Chief Executive Officer of Caltex PetroleumCorporation, serves on Tesoro's compensation and governancecommittees; William J. Johnson, President of JonLoc Inc., a petroleumconsulting firm, chair of the company's governance committee andserves on the compensation and audit committees; Steven H. Grapstein,Lead Director of Tesoro Corporation and chair of the company's auditcommittee, is Chief Executive Officer of Kuo Investment Company; BruceA. Smith, Chairman, President and Chief Executive Officer of TesoroCorporation; Donald H. Schmude, Retired Vice President, Texaco andRetired President and Chief Executive Officer of Texaco Refining andMarketing, Inc., chair of the company's environmental, health & safetycommittee and also serves on the finance committee; A. Maurice Myers,Retired Chairman, President and Chief Executive Officer of WasteManagement, Inc., chair of the company's compensation committee andserves on the governance committee; Michael E. Wiley, Retired Chairmanand Chief Executive Officer of Baker Hughes Incorporated, serves onthe environmental, health & safety and finance committees; Robert W.Goldman, Retired Senior Vice President and Chief Financial Officer ofConoco, Inc., chair of the finance committee and serves on the auditand environmental, health & safety committees; and Rodney Frank Chase,Non-Executive Chairman of Petrofac Ltd. in Europe and Deputy Chairmanof Tesco plc in London.

About Tesoro

Tesoro Corporation, a Fortune 200 company headquartered in SanAntonio, Texas, is an independent refiner and marketer of petroleumproducts. Tesoro operates six refineries in the western United Stateswith a combined rated crude oil capacity of more than 560,000 barrelsper day. Tesoro's retail marketing system includes over 475 brandedretail stations, of which over 200 are company operated under theTesoro(R) and Mirastar(R) brands. Tesoro's commercial marketing systemincludes sales of jet fuel and marine fuels.

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