Valero Energy Corporation (NYSE: VLO) announced today the Internet availability of proxy materials for its 2008 Annual Meeting of Stockholders under the new Notice and Access rule of the U.S. Securities and Exchange Commission (SEC). This rule allows companies to furnish proxy materials to stockholders via the Internet as an alternative to the traditional approach of delivering a printed set to each stockholder.

Valero today began mailing its "Notice of Internet Availability of Proxy Materials" informing stockholders of where they can view the company's proxy statement for the 2008 Annual Meeting of Stockholders and 2007 Annual Report on Form 10-K, as filed with the SEC. In addition, stockholders may obtain free of charge a printed set of the proxy materials by mail or obtain a copy of the proxy materials by email by following the instructions provided in the notice. These proxy materials are also available in the Investor Relations section of the company's web site at www.valero.com.

The 2008 Annual Meeting of Stockholders will be held on Thursday, May 1, 2008 at 10 a.m. Central Time at Valero's offices located at One Valero Way, San Antonio, Texas 78249.

About Valero:
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and 2007 annual revenues of $95 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.

Statements contained in this release that state the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "believe," "expect," "should," "estimates," and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero's annual reports on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and on Valero's website at www.valero.com.