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LIGHTNING LUBE VS. WITCO LAWSUIT DECISION HANDED DOWN

 NEW YORK, Sept. 15 /PRNewswire/ -- Witco Corporation (NYSE: WIT) announced today that the U.S. Third Circuit Court of Appeals in an opinion dated Sept. 10, 1993, affirmed the 1992 decision of the trial court in the Lightning Lube vs. Witco Corporation, et. al. case which reduced an award to Lightning Lube of approximately $61.5 million to $9.5 million, plus interest. The opinion confirmed the trial court's rejection of allegations of a corporate conspiracy to injure Lightning Lube and the trial court's decision overturning, among other things, a jury award of $50 million in punitive damages.
 Witco Chairman and Chief Executive Officer William R. Toller said, "We are certainly disappointed that the court let any aspect of this award stand, but, it is important that we put matters such as these behind us." The amount of the award will be accounted for in the third quarter.
 Witco Corporation is a worldwide manufacture of specialty chemical and petroleum products and engineered materials with 65 manufacturing facilities in 12 countries. Witco expects 1993 sales to exceed $2.3 billion.
 -0- 9/15/93
 /CONTACT: C.R. Soderlind, senior vice president, 212-605-3813, or S.L. Levy, manager public relations, 212-605-3815, both of Witco/
 (WIT)


CO: Witco Corporation ST: New York IN: CHM SU:

TW-SH -- NY019 -- 2149 09/15/93 10:33 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:221
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