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VIGORO ANNOUNCES HOOVER AGREEMENT

 CHICAGO, April 28 /PRNewswire/ -- The Vigoro Corp. (NYSE: VGR) announced today that its subsidiary, Vigoro Industries Inc. (Vigoro), has reached agreement with Hoover Treated Wood Products Inc. (Hoover) and other interested parties relating to previously disclosed lawsuits involving the manufacture by Hoover of fire retardant treated plywood.
 The lawsuits against Hoover, Vigoro, and numerous other defendants involved in the processing and distribution of such fire retardant plywood, claimed that a generally used fertilizer product sold by Vigoro to Hoover from 1985 through 1988 contributed to a condition prematurely degrading such wood and causing extensive property loss.
 Under the agreement, Vigoro will pay Hoover an amount not to exceed $2 million, a substantial portion of which is expected to be paid by Vigoro's insurance. In return, Hoover will release Vigoro from all present and future asserted claims arising from the sale and distribution of such fire retardant plywood and indemnify and hold Vigoro harmless from all present and future asserted claims by other parties related to such plywood. In addition, Hoover will use its best efforts to cause all the other parties to dismiss their claims against Vigoro. There can be no assurance, however, that Hoover can obtain all such dismissals of other parties' claims against Vigoro.
 Vigoro's management believes that its agreement with Hoover, coupled with its existing insurance coverage and significant meritorious defenses, will result in resolving all such pending and potential claims against Vigoro without any material adverse effect on the financial condition or results of operations of The Vigoro Corp. or its subsidiaries.
 The Vigoro Corp. is a leading North American manufacturer and distributor of potash, nitrogen-based fertilizers and related products.
 -0- 4/28/93
 /CONTACT: Kirk Brewer of Vigoro Corp., 312-258-4359/
 (VGR)


CO: The Vigoro Corp.; Hoover Treated Wood Products, Inc. ST: Illinois IN: CHM SU:

SM -- NY011 -- 1772 04/28/93 08:24 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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