---

Fitch, Inc. Reviewing Pennzoil-Quaker State Company Debt Rating

4 September 2000

Fitch, Inc. Reviewing Pennzoil-Quaker State Company Debt Rating

    HOUSTON, Sept. 1 Fitch, Inc. is reviewing Pennzoil-Quaker
State Company's senior note and commercial paper ratings.
Pennzoil-Quaker State Company has been advised that a likely outcome is a
revision of the senior note rating to BBB-/stable outlook, and a revision of
the commercial paper to F3.