Airgas Acquires Seven Gas Distribution Locations from Air Liquide America Corporation; Agrees to Sell Two Nitrous Oxide Plants and Related Business.

Business Editors

RADNOR, Pa.--(BUSINESS WIRE)--Oct. 3, 2001

Airgas, Inc. (NYSE:ARG) announced that it has purchased seven retail operations based in Arizona from Air Liquide America Corporation. These operations have annual sales of nearly $10 million in welding hardgoods and packaged gases and include five locations in Arizona, one in New Mexico, and one in California.

The two companies also have entered into an agreement for Air Liquide America Corporation to acquire two of Airgas' nitrous oxide production facilities and related business. The operations located in Donora, PA and Richmond, CA generate less than $10 million in annual sales. Airgas is selling the two facilities and related business to address certain regulatory concerns. Airgas will retain four nitrous oxide production facilities, which will meet its needs as a major producer and distributor of nitrous oxide. These production facilities in Cantonment, FL; Galena, KS; Maitland, Ontario; and Yazoo City, MS, are part of the Airgas Nitrous Oxide business unit in the Gas Operations division.

Airgas Chairman and CEO Peter McCausland commented: "Both transactions are consistent with our strategic direction. With the required divestiture behind us, we can focus on our retained nitrous oxide business. The retail operations we are acquiring will add to our national footprint and give us a stronger presence in Arizona. We welcome our new associates and we wish all the best to the people working at the two facilities that we are selling."

The nitrous oxide sale is subject to FTC approval and is expected to close in the coming quarter. The net effect of both transactions to earnings is expected to be neutral.

About Airgas

Airgas, Inc. (NYSE: ARG) is the largest distributor of industrial, medical and specialty gases and welding equipment and one of the largest distributors of safety supplies in the United States. Airgas' integrated distributor network consists of approximately 700 locations, including branches, packaged gas fill plants, distribution centers, and inbound and outbound telemarketing operations. For more information on Airgas, please visit www.airgas.com.

About Air Liquide

Air Liquide is a global provider of industrial, specialty and medical gases and related services. By staying at the vanguard of technological leadership, Air Liquide provides its customers all over the world with new products, services and solutions. Founded in 1902, Air Liquide has 125 subsidiaries in 60 countries and employs more than 30,000 people. Total sales in 2000 totaled 8.1 billion euros with sales outside of France accounting for 77%. Air Liquide is listed on the Paris Stock Exchange and is a member of the CAC 40 Index (Euroclear 12 007).

Forward-Looking Statements

This press release contains statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, statements regarding: the Company's pending transactions with Air Liquide America Corporation, including the expected closing in the coming quarter; the Company's future needs for nitrous oxide; the Company's plan to build a stronger presence in Arizona; and the expectation that the net effect of both transactions will be neutral to earnings. Airgas intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by the Company or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include the Company's ability to successfully complete the transactions with Air Liquide America Corporation and to integrate the acquisition; increased expenses related to the acquisition; the insufficiency of the Company's facilities to satisfy its nitrous oxide needs; increased cost pressures; an economic downturn (including adverse changes in the specific markets for our products); increased competition; and other factors described in the Company's reports, including Form 10-K dated March 31, 2000 and Form 10-Q dated June 30, 2001, filed by the Company with the Securities and Exchange Commission.