VLI Valero Lp

Valero L.P. (NYSE:VLI) announced today the election of J. Dan Bates to its board of directors. Bates, President and Chief Executive Officer of the Southwest Research Institute in San Antonio, becomes Valero L.P.'s eighth director, and will sit on the Audit, Conflicts and Compensation Committees. "Dan Bates is a great addition to our board," said Valero L.P. Chief Executive Officer Curt Anastasio. "Not only does he have great leadership skills, his broad experience and great business acumen will be a real asset to Valero L.P." Bates, 61, joined Southwest Research Institute (SwRI) as a systems analyst in 1969 after holding a similar position at Exxon. He became SwRI's Executive Vice President and Board Secretary in 1991, and became only the third President in SwRI's history in 1997. SwRI, which was founded in 1947, is one of the largest not-for-profit applied research institutes in the country, and one of the largest fuel and lubricant test sites in the world. Bates graduated from Southwest Texas State University (now Texas State University) with an accounting degree in 1966, and earned a master's degree from Texas A&M University in Kingsville before becoming a certified public accountant. He is Chairman Pro-Tem of the Federal Reserve Bank of Dallas' San Antonio Branch board of directors, and also serves as Chairman of the Board of Signature Science L.L.C. and Southwest Automotive Research Center. A resident of San Antonio, Bates was named a Texas State Distinguished Alumnus in 2003. About Valero L.P. Valero L.P. is a master limited partnership based in San Antonio, with 9,186 miles of pipeline, 89 terminal facilities and four crude oil storage facilities. The partnership has operations in the United States, Canada, Mexico, the Netherlands Antilles, the Netherlands and the United Kingdom. The partnership's combined system has approximately 77.7 million barrels of storage capacity, and includes crude oil and refined product pipelines, refined product terminals, petroleum and a specialty liquids storage and terminaling business, as well as crude oil storage tank facilities. For more information, visit Valero L.P.'s web site at www.valerolp.com.