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ORAL ARGUMENTS WILL BE PRESENTED BY COUNSEL FOR LIGHTNING LUBE AND WITCO ON WITCO'S MOTION FOR A NEW TRIAL

 ORAL ARGUMENTS WILL BE PRESENTED BY COUNSEL FOR LIGHTNING LUBE
 AND WITCO ON WITCO'S MOTION FOR A NEW TRIAL
 Oral arguments will be presented by counsel for Lightning Lube and Witco (NYSE: WIT) on Witco's motion for a new trial. These arguments and supporting documents will effectively summarize the recent three- month trial at Federal District Court in Camden in which a jury found that Witco's Kendall Oil division had conspired to put Lightning's Lube's chain of franchised Laser Lube shops out of business and had defrauded Lightning Lube. The jury ordered Witco to pay Lightning Lube, Blackwood, N.J., $50 million in punitive damages and $11.5 million in compensatory damages for lost profits.
 U.S. District Court Judge William G. Bassler is also expected to rule on Lightning Lube's emergency petition to increase Witco's bond to the full amount of the $61.5 million jury award. The company requested that the bond be increased from the original $30 million following Witco's disclosure that a major acquisition was planned. Lightning Lube contends that the acquisition of Schering A.G.'s Industrial Chemicals and Natural Substances divisions (which was subsequently agreed upon) could adversely affect Witco's ability to pay the judgment.
 CONTACT: Bill Parness or John Helsel of Parness & Associates Public Relations, 908-290-0121, for Lightning Lube.
 -0- 7/28/92


CO: Lightning Lube; Witco Corp. ST: New Jersey, New York IN: SU:

SM-OS -- NY040 -- 4033 07/28/92 11:09 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
Words:241
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