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UNION CARBIDE CHALLENGES HEADQUARTERS SUIT

 UNION CARBIDE CHALLENGES HEADQUARTERS SUIT
 DANBURY, Conn., May 29 /PRNewswire/ -- Union Carbide Corporation


(NYSE: UK) (UCC) today challenged a lawsuit filed in a Florida court by Danbury Buildings, Inc., owner and lessor of the corporation's headquarters.
 The suit seeks one of the following alternatives: to enjoin the previously announced spin-off of Union Carbide Industrial Gases Inc. (UCIG); or to rescind the 1986 sale by Union Carbide of the Danbury headquarters building; or to make UCIG financially responsible for the entire lease together with UCC.
 "This is simply a case of a landlord opportunistically trying to rewrite a six-year-old lease," said Joseph E. Geoghan, vice president, general counsel and secretary of UCC. "Absolutely no grounds exist to enjoin the spin-off. It's quite clear under Connecticut law, which controls the lease, that the proposed spin-off is completely legal. There are no financial covenants or other restrictions of any kind in the lease bearing on these issues, nor are there any provisions that would require Union Carbide Industrial Gases Inc. to be jointly liable under the lease," he added.
 UCIG plans to continue to occupy its present space in the headquarters as a sub-lessee of UCC.
 -0- 5/29/92
 /CONTACT: Ivana Tibbetts of Union Carbide, 203-794-7027/
 (UK) CO: Union Carbide Corporation ST: Connecticut IN: CHM SU:


AH -- NY058 -- 5290 05/29/92 15:48 EDT
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Publication:PR Newswire
Date:May 29, 1992
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