(DALLAS, TX - October 9, 1998) - Chevron has signed an agreement with Brink's
for CompuSafeŽ Service in approximately 400 Chevron stores in Texas, Georgia,
Louisiana and Florida. The announcement was made by Phil Chadwick, Brink's
CompuSafe Service's vice president of marketing and sales.
"When we examined the services available, Brink's CompuSafe Service offered the
benefits we wanted in cash management for Chevron's Eastern Sales Region," said
Jesse Love, business coordinator for Chevron Company Operated stores.
"We're pleased that Chevron selected Brink's CompuSafe Service for its cash
management needs," said Chadwick. "There are companies that offer in-store safes
and there are companies that provide armored transportation services. Brink's
CompuSafe Service provides Chevron a total in-store cash processing solution -
and delivers Brink's service every step of the way, from our own safes and
armored transportation to on-site maintenance and nationwide electronic
reporting."
CompuSafe Service is a single-source, in-store cash management service designed
for cash-intensive retail operations such as convenience stores and gasoline
marketers. Brink's provides improved security of cash transactions from the time
a customer pays to the time the money is deposited in the bank.
When store employees deposit currency into the CompuSafe unit, it reads and
validates the bills, placing them in secure cassettes. Brink's messengers
collect the cassettes - a transaction which generally takes less than five
minutes. Since Brink's controls access to the safe, store managers do not have
to be present when pickups are made. The sealed containers of cash are opened
only by Brink's personnel. In Brink's currency room, trained tellers verify the
deposits, combine deposits from all Chevron's locations, and transfer those
funds electronically to their bank.
Because Brink's controls the entire process including maintenance on the safe,
it guarantees to Chevron that the amount of cash reported in the cassettes when
picked up will be deposited to the customer's bank account - minimizing theft
and in-store discrepancies.
Chevron selected CompuSafe Service for its cash control, security, on-site
maintenance and overall expense reduction:
Cash Control: Brink's technology provides a complete sales audit by employee,
shift, and business day to simplify reconciliation. Plus, Brink's guarantees
that the amount of cash in the cassette recorded at pick-up will be deposited in
the bank.
Security: Cash exposure is significantly minimized because employees do not
count (and re-count) the cash, maintain the safe, or go to the bank - exposing
cash to robbery and themselves to physical harm.
On-Site Maintenance: Brink's provides total hardware and software maintenance
freeing managers from having responsibility for the cash once it enters the
safe.
Cost Reduction: In addition to managers having more time to do their jobs, by
consolidating their number of banking relationships, Chevron is able to reduce
overall operating expenses.
"CompuSafe Service is the best solution for accurate, safe and efficient cash
management - and the only one built entirely on Brink's proven performance,"
added Chadwick.
Brink's developed CompuSafe Service after listening to many operations, loss
prevention and treasury executives. In addition, the company pays attention to
its customers and anticipates future services that will further enhance the
value of its service.
"In the future, we plan to take advantage of automated reporting," said Love.
"This feature will further improve the information flow from our stores to our
treasury and banks and thus, reduce float."
Founded in 1879, Chevron is a publicly held, worldwide petroleum and chemical
company headquartered in San Francisco, California. One of the world's largest
integrated petroleum companies, Chevron is involved in every aspect of the
industry, from exploration and production to transportation, refining and retail
marketing including chemicals manufacturing and sales. It is active in more than
90 countries and employs about 34,000 people worldwide. In the United States,
Chevron is a leading marketer of petroleum products and the third largest
producer of natural gas.
For more information on CompuSafe Service, call 1-800-BRINKS-5 or visit
www.brinks.com.
Brink's, founded in 1859, is the largest provider of armored services in the
world, with over 150 facilities in the United States and a global network that
spans over 50 countries. Pittston Brink's Group Common Stock (NYSE-PZB),
Pittston Burlington Group Common Stock (NYSE-PZX), and Pittston Minerals Group
Common Stock (NYSE-PZM), represent the three classes of common stock of The
Pittston Company, a diversified company with interests in security services
through Brink's Incorporated and Brink's Home Security, Inc. (Pittston Brink's
Group), global freight transportation and logistics management services through
BAX Global (Pittston Burlington Group), and coal and gold mining (Pittston
Minerals Group).