PENNZOIL'S SPORTS SPONSORSHIPS TARGETING PREMIUM MARKET

     Pennzoil is staking its '96 core motor oil strategy on a
"technological superiority claim" and its sponsorships of the
Indy 500 and NBC's Olympics coverage via $14M in media
advertising, according to BRANDWEEK.  This strategy marks
Pennzoil's move toward "premium positioning," boosted by price
discounting included in a Final Four rebate offer.  Sports tie-
ins help reach the 18-49 audience, and Pennzoil is using its
Olympic broadcast ads to target female buyers, now about 50% of
the company's total sales.  Pennzoil will break a new spot on
CBS' Final Four coverage Saturday to push sales of their 10W-30
motor oil.  Valvoline, which is "pushing" the growing semi-
synthetic blend oil category will have 14 spots on ABC's Indy 500
telecast, but lose in-track signage to Pennzoil (Steve Gelsi,
BRANDWEEK, 3/25 issue).
     RACING NEWS:  Sources say that Roger Penske, owner of
Michigan Int'l Speedway Owner, is putting up an "estimated" $70M
offering in Penske Motorsports Inc. which will be priced as early
as today and available for investors for the first time on
Wednesday (Dave Philips, DETROIT NEWS, 3/26).