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ETHYL CORPORATION REVIEWS STUDY OF PARTIAL SALE OF ITS INVESTMENT IN FIRST COLONY LIFE INSURANCE

 ETHYL CORPORATION REVIEWS STUDY OF PARTIAL SALE
 OF ITS INVESTMENT IN FIRST COLONY LIFE INSURANCE
 RICHMOND, Va., Sept. 11 /PRNewswire/ -- Ethyl Corporation (NYSE: EY) said today that its board of directors has reviewed an ongoing study to determine the feasibility of a partial sale of its investment in its wholly owned subsidiary, First Colony Life Insurance Company, followed by a tax-free spin-off.
 Ethyl also appointed a committee of the board of directors to evaluate the study and report to the board.
 In addition to owning First Colony Life Insurance Company, Ethyl Corporation, a Fortune-500 company based in Richmond, is a worldwide producer and marketer of value-added chemicals for the petroleum and plastic industries. Ethyl also makes high-technology chemical intermediates for detergents, polymers, electronics, agricultural chemicals and pharmaceuticals. Ethyl had 1991 revenues of $2.6 billion and net income of $206.7 million.
 -0- 9/11/92
 /CONTACT: A. Prescott Rowe, 804-788-5413, or Robert P. Buford IV, 804-788-5494, both of Ethyl Corporation/
 (EY) CO: Ethyl Corporation ST: Virginia IN: CHM SU:


CM -- CH007 -- 8638 09/11/92 16:42 EDT
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Publication:PR Newswire
Date:Sep 11, 1992
Words:179
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