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Pennzoil-Quaker State Reaches Definitive Agreement to Sell Viscosity Oil

29 December 2000

Pennzoil-Quaker State Company Reaches Definitive Agreement to Sell Viscosity Oil

    HOUSTON, Dec. 28 Pennzoil-Quaker State Company
announced today that it has closed on the sale of Viscosity Oil Company to FL
Selenia.
    "This transaction brings Pennzoil-Quaker State Company a step closer to
realizing our strategy of complete concentration on our core automotive
consumer products business," said James J. Postl, president and chief
executive officer of Pennzoil-Quaker State Company.  "FL Selenia is well
positioned to take advantage of Viscosity Oil Company's highly efficient
operations and strong customer service focus in the North American market."
    Since the formation of Pennzoil-Quaker State Company in late 1998,
Viscosity Oil has operated as a division of the company, formulating and
supplying lubricants to the North American off-road industry, including top
construction and farm equipment manufacturers.
    FL Selenia, headquartered in Turin, Italy, is a leading independent
lubricants company in the automotive market.  It was acquired by Doughty
Hanson & Co. from the Fiat Group in April 2000.  Aldino Bellazzini, the FL
Selenia chief executive officer, commented: "This acquisition is the first
step in our strategy to grow the business internationally and provides a solid
platform to expand in North America and better serve our major customers
worldwide."