Abstract: A friction reducing additive for addition to the lubricating oil crankcase of an internal combustion engine, such as in an automobile, is provided. The additive comprises (a) a hydrocarbon oil of lubricating viscosity; (b) an extreme pressure antiwear agent comprising: (i) an oil dispersion of solid inorganic film-forming potassium borate, (ii) antimony diaklylphosphorodithioate, and (iii) a liquid chlorinated paraffin; (c) an alkaline material; and (d) a viscosity index improver. The preferred additive composition of the present invention also contains an antioxidant and an antifoaming agent.