Valero Energy Corporation Declares Regular Cash Dividend on Common Stock

The Board of Directors of Valero Energy Corporation (NYSE:VLO) has
declared a regular quarterly cash dividend on the company′s common stock
of $0.05 per share. The dividend is payable on September 14, 2011 to
holders of record at the close of business on August 17, 2011.

Valero Energy Corporation is an international manufacturer and marketer
of transportation fuels, other petrochemical products and power. Its
assets include 14 petroleum refineries with a combined throughput
capacity of approximately 2.6 million barrels per day, 10 ethanol plants
with a combined production capacity of 1.1 billion gallons per year, and
a 50-megawatt wind farm. Valero is also one of the largest retail
operators with approximately 5,800 retail and branded wholesale outlets
in the United States, Canada and the Caribbean under the Valero, Diamond
Shamrock, Shamrock, Ultramar and Beacon brands. Based in San Antonio,
Valero is a Fortune 500 company with approximately 20,000 employees.
Please visit www.valero.com
for more information.

Valero Energy Corporation, San Antonio

Investors, Ashley Smith,
Vice President,

Investor Relations: 210-345-2744

or

Media,
Bill Day, Executive Director, Corporate Communications:

210-345-2928

Website:
http://www.valero.com/