Pennzoil-Quaker State Company CEO Foresees Strong 2001 Performance at Trusco's 'Undiscovered Gems' Research Conference

    HOUSTON, Feb. 21 James J. Postl, president and CEO of
Pennzoil-Quaker State Company spoke today at the "Undiscovered
Gems" Small Cap Value Stock Research Conference, sponsored by Trusco Capital
Management.
    Postl emphasized that Pennzoil-Quaker State is a focused consumer products
company with a vision to be consumers' first choice for automotive products
and services.  Since the formation of Pennzoil-Quaker State Company in late
1998, the company has provided earnings growth, delivered cost savings ahead
of schedule, reconfigured its Jiffy Lube subsidiary and announced the sale of,
or has sold, all of its non-strategic refining assets.
    Under Postl's direction, Pennzoil-Quaker State Company's senior management
team has grown to include key executives with strong consumer product and
brand marketing experience from such companies as Clorox, PepsiCo, Procter &
Gamble and Tricon Global.
    Looking forward, Postl outlined the company's plan for continued cost
structure improvement, debt reduction and significant earnings and margin
growth.  Participants at the conference were shown that with dividend
reinvestment, Pennzoil-Quaker State stock provided shareholders with a
35 percent return in 2000.
    Pennzoil-Quaker State Company is a leading worldwide automotive consumer
products company, marketing over 1,300 products with 20 leading brands in more
than 50 countries.  The company markets Pennzoil(R) and Quaker State(R) brand
motor oils, the number one and number two selling motor oils in the United
States.  Jiffy Lube, a wholly owned subsidiary of Pennzoil-Quaker State
Company, is the world's largest fast lube operator and franchiser. For more
information about Pennzoil-Quaker State Company, visit its web site at
http://www.pennzoil-quakerstate.com/.