CK Witco Comments On Earnings, Accelerates Post-Merger Integration.

STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 11, 1999--

CK Witco Corporation (NYSE: CNW) announced today that, excluding special items and non-recurring charges, it expects to earn between $0.16 and $0.18 per diluted common share in the third quarter, and between $0.06 and $0.08 per diluted common share in the seasonally lower fourth quarter. The company plans to announce third quarter results on October 28, 1999.

Results for this period will be impacted primarily by continued weakness in several of the recently merged businesses as well as polymer processing equipment, and in third quarter demand for crop protection products and EPDM. In addition, increased petrochemical feedstock costs have begun to affect a few businesses, while Colors pricing remains weak. Crop protection sales have recently been affected by weather patterns and a soft farm economy. Demand for polymer processing equipment has entered a cyclical downturn. A similar downturn in 1996 lasted approximately four quarters.

In addition, CK Witco is accelerating its post-merger integration and expects to achieve cost reductions of over $60 million in 2000 and beyond. When the merger of Crompton & Knowles and Witco was originally announced on June 1, 1999, merger-related savings were forecast at $30 million for 2000 and a total of $60 million in 2001 and beyond. A fourth quarter charge will be taken to cover costs associated with the integration program, including employee severance.

"The enhanced realization of savings reflects the accelerated pace of the integration and will contribute to the company's earnings performance in 2000," said Vincent A. Calarco, president and chief executive officer. "The savings are the result of the elimination of duplicate functions at the corporate level; reduced headcount throughout the corporation; facility closings; and improved logistics and purchasing efficiencies.

"We remain very confident in the long-term benefits of the merger and the strength of the combined business portfolio," he continued. "Every day our integration teams identify new opportunities for sales growth driven by a combination of regional expansion, expanded product offerings and cross selling opportunities. Every business is focused on sales and earnings growth."

CK Witco is a $3.3 billion global manufacturer of polymer and specialty products providing these high-value products to a wide range of customers. More information about the company can be found at www.ckwitco.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding CK Witco Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.