Disclosed herein are novel phenol oxidizing enzymes naturally-produced by strains of the species Stachybotrys which possess a pH optima in the alkaline range and which are useful in modifying the color associated with dyes and colored compounds, as well as in anti-dye transfer applications. Also disclosed herein are biologically-pure cultures of strains of the genus Stachybotrys, designated herein Stachybotrys parvispora MUCL 38996 and Stachybotrys chartarum MUCL 38898, which are capable of naturally-producing the novel phenol oxidizing enzymes.