Lactone modified viscosity modifiers useful in oleaginous compositions

Oil soluble viscosity index improving additives comprising ethylene copolymers such as copolymers of ethylene and propylene; and ethylene, propylene and diolefin; etc. reacted or grafted with ethylenically unsaturated carboxylic acid moieties, preferably maleic anhydride moieties, and reacted with amines having two or more primary amine groups or at least one primary amine group and at least one secondary amine group and a carboxylic acid component, preferably alkylene polyamine and with alkenyl succinic anhydride such as polyisobutenyl succinic anhydride, are improved by being further reacted with a lactone, preferably a lactone having at least 6 atoms in the lactone ring. The resulting lactone modified products are useful per se as oil soluble V.I. additives in fuel and lubricating compositions including concentrates containing the additives.