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AMENDED COMPLAINT FILED IN GRACE TENDER FOR GRACE ENERGY MINORITY; PRELIMINARY INJUNCTION SOUGHT

 AMENDED COMPLAINT FILED IN GRACE TENDER FOR GRACE ENERGY MINORITY;
 PRELIMINARY INJUNCTION SOUGHT
 BOCA RATON, Fla., June 9 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced that an amended complaint has been filed in the previously reported lawsuit challenging the fairness of Grace's pending acquisition of the publicly held shares of its subsidiary, Grace Energy Corporation (NYSE: GEG). A Grace subsidiary commenced a $19 per share cash tender offer for Grace Energy's publicly held shares on June 1; the offer is scheduled to expire at midnight, Eastern Daylight Time, on June 26.
 Grace said that the amended complaint challenges the terms of the proposed acquisition and that the plaintiffs have applied to the Delaware Chancery Court for a preliminary injunction against the offer. The court has set a hearing on the application for a preliminary injunction for June 18. A Grace spokesman said that Grace continues to believe that the lawsuit is completely without merit and that there is no basis for the issuance of an injunction.
 Grace is the world's largest specialty chemicals company with a leadership position in health care. Grace Energy Corporation, headquartered in Dallas, Texas, is a diversified energy company whose subsidiaries are engaged in supplying services and equipment to the petroleum industry; in the exploration for development of oil and natural gas; and in coal mining.
 -0- 6/9/92
 /CONTACT: Chuck Suits of W. R. Grace & Co., 407-362-2600 or 800-GRACE99/
 (GRA GEG) CO: W. R. Grace & Co.; Grace Energy Corporation ST: Florida IN: CHM UTI SU:


AW-JJ -- FL003 -- 8272 06/09/92 10:03 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
Words:262
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