Valero Energy Corporation to Webcast Analyst Presentation September 5, 2007

Valero Energy Corporation (NYSE:VLO) today announced that Bill Klesse, Chairman of the Board and Chief Executive Officer of Valero Energy Corporation, will conduct a presentation at the Lehman Brothers Energy Conference on Wednesday, September 5 at 2:25 p.m. ET. The purpose of the presentation will be to provide an update on refining and marketing fundamentals and company operations. A copy of the accompanying slide show presentation and a link to the webcast is available at www.valero.com in the Investor Relations portion of the website.

Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and 2006 revenues of more than $90 billion. The company owns and operates 17 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.1 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation’s largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.