A CATASTROPHIC ENGINE FAILURE OCCURRED ON THE FREEWAY WHILE DRIVING AT 70-80 MPH. THE FIRST WARNING WAS SUDDEN ENGINE NOISE, A LOUD TICKING OR KNOCKING SOUND. THIS WAS SHORTLY FOLLOWED BY THE OIL LIGHT ILLUMINATING, THEN THE ENGINE LIGHT, AND THEN ENGINE SEIZURE (RPM DROPPED TO 0). AS I WAS PULLING TO THE SIDE, SMOKE BEGAN BILLOWING THROUGH THE VENTS. UPON EXITING THE VEHICLE I REALIZED THE ENGINE WAS ON FIRE. THE VEHICLE WAS WELL MAINTAINED WITH NO PRIOR WARNING. THE FIRE WAS PUT OUT WITH GATORADE FROM AN OBSERVER WHO PULLED OVER.