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FEDERAL JUDGE ORDERS WITCO TO POST $30 MILLION BOND FOLLOWING VERDICT IN LIGHTNING LUBE CASE

 FEDERAL JUDGE ORDERS WITCO TO POST $30 MILLION BOND
 FOLLOWING VERDICT IN LIGHTNING LUBE CASE
 CAMDEN, N.J., May 29 /PRNewswire/ -- U.S. District Court Judge William G. Bassler today ordered Witco Corp. (NYSE: WIT) to post a $30 million bond in connection with the recent $61.5 million jury award for Lightning Lube Corp.
 In ordering Witco to post the bond by June 3, Bassler denied Witco's motion to stay execution without a bond.
 New York-based Witco has said that it plans to appeal the May 1 verdict in which a federal jury in Camden ordered Witco to pay Lightning Lube, Mt. Laurel, N.J., $11.5 million in compensatory damages for lost profits and $50 million for punitive damages.
 The jury sided with Lightning Lube principal Ralph Venuto's contention that Kendall Oil Co., a division of Witco, had conspired to put his chain of franchised quick lube shops out of business. The shops operated under the Laser Lube name. Venuto alleged that Kendall wanted to destroy the chain as a means to protect its own financial position in the competing Avis Lube chain.
 Attorney Steven M. Kramer, New York, represented Lightning Lube in the three-month trial. Witco was represented by Carella Byrne, Roseland, N.J.
 -0- 5/29/92
 /CONTACT: Steven Kramer, counsel for Lightning Lube, 212-586-0707/
 (WIT) CO: Lightning Lube Corp.; Witco Corp. ST: New Jersey IN: SU:


TQ-SB -- NY044 -- 5240 05/29/92 14:23 EDT
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Publication:PR Newswire
Date:May 29, 1992
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