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PENNZOIL ISSUES STATEMENT ON CHEVRON STOCKHOLDER LAWSUIT

 PENNZOIL ISSUES STATEMENT ON CHEVRON STOCKHOLDER LAWSUIT
 HOUSTON, May 8 /PRNewswire/ -- Pennzoil Co. (NYSE: PZL) is not a party to the Chevron stockholder lawsuit which was dismissed by a state court judge in San Francisco today. That suit is one of several such suits bron K.T. Derr, this state court decision in no way confirms the propriety of Chevron's lawsuit against Pennzoil. In the federal case brought by Chevron against Pennzoil, the U.S. District Court granted Pennzoil's motion for summary judgment and dismissed the lawsuit. Chevron appealed the dismissal to the Ninth Circuit where the matter is pending.
 -0- 5/8/92
 /CONTACT: Robert Harper of Pennzoil, 713-546-8536/
 (PZL) CO: Pennzoil Co. ST: Texas IN: OIL SU:


CK -- NY072 -- 8260 05/08/92 16:49 EDT
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Publication:PR Newswire
Date:May 8, 1992
Words:128
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