DENTSPLY International Inc. Reports Record Results, Exceeding Analysts' Earnings Esimates for 2001 and Fourth Quarter.

    Business Editors

      YORK, Pa.--(BUSINESS WIRE)--Jan. 21, 2002--DENTSPLY International
Inc. (Nasdaq:XRAY) today announced record sales and earnings for the
year ended December 31, 2001.
      Sales increased 26.9% to $1,129.1 million in 2001, from $889.8
million in 2000. The internal sales growth rate for the year was 6.2%,
excluding a 22.4% increase due to acquisitions and a negative 1.7%
foreign currency translation impact due to the strong U.S. dollar. Net
income for 2001 of $121.5 million, or $2.31 diluted earnings per
common share, was an increase of 19.7% from $1.93 in 2000.
      (In December 2001, DENTSPLY announced a 3 for 2 stock split, to be
distributed on January 31, 2002. Diluted earnings per share, on a
post-split basis, would be $1.54 in 2001, compared to $1.29 in 2000.)
      Earnings in 2001 of $121.5 million or $2.31 diluted earnings per
common share, included net non-recurring income of $11.6 million or
$.22 per share. This non-recurring income included:

      --  a gain of $23.1 million, or $.26 per share for the sale of
        SoftDent, LLC;

      --  a negative $5.5 million for the 1st quarter restructuring
        charge;

      --  a negative $11.4 million impact for fourth quarter
        restructuring and other costs, offset partially by a minority
        interest benefit of $1.4 million;

--      a gain from the U.K. pension plan received in October of $8.5 million;

      --  a gain on the insurance settlement for equipment lost in the
        Maillefer fire of approximately $5.8 million; and

      --  a charge for the Oraqix payment of $2.3 million.

      Excluding this net non-recurring income, diluted earnings per
common share were $2.09, an increase of 8.3 % over 2000. Diluted
earnings per common share for the year includes a negative impact from
the $84.6 million Tulsa earn-out payment made in May and one-time
inventory step-up charges for Friadent and Degussa Dental during the
year. Without these negative impacts, diluted earnings per share
increased 13.5%.
      Sales in 2001, of $1,129.1 million, included sales from the
acquisition of Degussa Dental, which was acquired at the beginning of
the fourth quarter. Due to the fluctuations of precious metal prices,
DENTSPLY will begin reporting sales both, with and without precious
metals, to give the reader a broader understanding of its business.
      DENTSPLY leases most of its precious metals, to minimize the
effect of any price movement in the underlying metals. DENTSPLY's
sales in 2001 excluding the sales value of precious metals, were
$1,078.8 million, an increase of 21.2%.
      Sales for the fourth quarter ended December 31, 2001 were a record
$375.3 million ($325.0 million excluding the sales value of precious
metals), an increase of 60.1% over the $234.4 million recorded in the
fourth quarter of 2000. The internal sales growth rate for the quarter
was 6.2%, with acquisition growth of 54.8%, and a negative .9% foreign
currency translation impact.
      Net income for the fourth quarter was $33.8 million, or $.64
diluted earnings per common share, an increase of 8.5% compared to
$.59 in the year earlier quarter. Fourth quarter earnings in 2001,
included a net non-recurring income of $1.8 million or $.03 per share.
This non-recurring income included:

      --  a negative $11.4 million impact for fourth quarter
        restructuring and other costs, offset partially by a minority
        interest benefit of $1.4 million;

      --  a gain from the U.K. pension plan received in October of $8.5
        million;

      --  a gain on the insurance settlement for equipment lost in the
        Maillefer fire of approximately $5.8 million; and

      --  a charge for the Oraqix payment of $2.3 million.

      Excluding this net non-recurring income, diluted earnings per
common share were $.61, an increase of 3.4%. Diluted earnings per
common share for the quarter includes a negative impact from the Tulsa
earn-out payment made in May and a one-time charge for the inventory
step-up for Degussa. Without these negative impacts, diluted earnings
per share in the quarter increased 13.6%.
      Long-term debt increased to $724 million in the fourth quarter of
2001, largely as a result of the acquisition of Degussa Dental for
approximately $520 million offset slightly by the sale and
sale/leaseback of precious metals for $71 million.
      John C. Miles II, Chairman and Chief Executive Officer said "This
has indeed been a milestone year for DENTSPLY. Our record sales,
earnings and cashflow, during a year filled with powerful
acquisitions, are the results of some truly remarkable efforts by our
entire world-wide DENTSPLY team. This is not only the end of a very
rewarding year, but the beginning of a very exciting future for
DENTSPLY and its stakeholders. Our recent acquisitions, along with
some very exciting new products, are providing a new and stronger
foundation for a bright and rewarding future. We look forward to
building upon these opportunities in 2002 and beyond."
      Mr. Miles also stated, "Management's confidence for 2002 remains
upbeat, despite the general uncertainties surrounding the world
economies, we believe the world dental markets will continue to show
solid growth during 2002 of 4-6%. We are comfortable with analysts'
consensus earnings estimates for DENTSPLY's pre-split diluted earnings
per common share of $2.65 or $1.77 per share on a post split basis for
2002. We are also confident that the DENTSPLY team around the world is
fully capable and committed to maximizing the opportunities that lay
before us."

      A conference call has been scheduled for Tuesday, January 22, 2002
at 8:30 a.m. Eastern Standard Time.

      DENTSPLY Conference Call Information:

      In order to participate dial 800/894-4892 (for domestic calls) or
1-212/346-0306 (for international calls) at 8:30 AM and you will be
able to discuss the Fourth Quarter/Year End Earnings with DENTSPLY's
Chairman and Chief Executive Officer, Mr. John Miles, President and
Chief Operations Officer, Mr. Gary Kunkle, and Senior Vice President
and Chief Financial Officer, Mr. Bill Jellison.
      This conference call will be broadcast live on the Internet at
www.dentsply.com or www.StreetEvents.com and will be available for
replay through the quarter.

      DENTSPLY designs, develops, manufactures and markets a broad range
of products for the dental market.
      The Company believes that it is the world's leading manufacturer
and distributor of dental prosthetics, precious metal dental alloys,
dental ceramics, endodontic instruments and materials, prophylaxis
paste, dental sealants, ultrasonic scalers, dental injectible
anesthetics and crown and bridge materials; the leading United States
manufacturer and distributor of dental x-ray equipment, dental
handpieces, intraoral cameras, dental x-ray film holders, film mounts
and bone substitute/grafting materials; and a leading worldwide
manufacturer or distributor of impression materials, orthodontic
appliances, dental cutting instruments and dental implants.
      The Company distributes its dental products in over 120 countries
under some of the most well established brand names in the industry.
      DENTSPLY is committed to the development of innovative, high
quality, cost-effective new products for the dental market.

      This press release contains forward-looking statements regarding
future events or the future financial performance of the combined
company.
      Actual events or results may differ materially from those in the
projections or other forward-looking statements set forth herein as a
result of certain risk factors, including, without limitation, the
difficulty of successfully combining the operations of Degussa with
those of DENTSPLY in a timely manner, the ability to continue to
generate sufficient cash flow to pay down the additional debt as
planned, the significant increase in DENTSPLY's debt-to-capitalization
ratio as a result of the acquisition and the diversion of resources to
debt service rather than for investment in DENTSPLY's existing
businesses.

      For an additional description of risk factors, please refer to the
Company's Form 10-K filing with the Securities and Exchange
Commission.
-0-
*T
                      DENTSPLY INTERNATIONAL INC.
                   CONSOLIDATED STATEMENTS OF INCOME
                 (IN THOUSANDS EXCEPT PER SHARE DATA)

                    THREE MONTHS ENDED         TWELVE MONTHS ENDED
                       DECEMBER 31                 DECEMBER 31
                   ---------------------     -----------------------
                     2001         2000          2001          2000
                   --------     --------     ----------     --------

NET SALES          $375,288     $234,353     $1,129,094     $889,796
NET SALES -ex
 PRECIOUS METALS    325,025      234,353      1,078,831      889,796

COST OF PRODUCTS
 SOLD               201,544      111,925        559,423      426,202
                   --------     --------     ----------     --------

GROSS PROFIT        173,744      122,428        569,671      463,594
 % OF NET SALES        46.3%        52.2%          50.5%        52.1%
 % OF NET SALES
  - ex PRECIOUS
  METALS               53.5%        52.2%          52.8%        52.1%

SELLING, GENERAL
 & ADMINI-
 STRATIVE           120,907       73,175        387,665      299,734

RESTRUCTURING
 COSTS & OTHER
 EXPENSE/
 (INCOME)              (427)         (56)         5,073          (56)
                   --------     --------     ----------     --------

INCOME FROM
 OPERATIONS          53,264       49,309        176,933      163,916
 % OF NET SALES        14.2%        21.0%          15.7%        18.4%
 % OF NET SALES
  - ex PRECIOUS
  METALS               16.4%        21.0%          16.4%        18.4%

NET INTEREST
 AND OTHER
 EXPENSE              1,776        3,722         (8,194)      12,120
                   --------     --------     ----------     --------

PRE-TAX INCOME       51,488       45,587        185,127      151,796

INCOME TAXES         17,641       14,724         63,631       50,780
                   --------     --------     ----------     --------

NET INCOME         $ 33,847     $ 30,863     $  121,496     $101,016
 % OF NET
  SALES                 9.0%        13.2%          10.8%        11.4%
 % OF NET SALES
  - ex PRECIOUS
  METALS               10.4%        13.2%          11.3%        11.4%


EARNINGS PER
 SHARE -BASIC      $   0.65     $   0.60     $     2.35     $   1.95
       -DILUTIVE   $   0.64     $   0.59     $     2.31     $   1.93

DIVIDENDS PER
 SHARE             $0.06875     $0.06875     $  0.27500     $0.25630

WEIGHTED AVERAGE
 NUMBER OF
 COMMON SHARES
 OUTSTANDING
       -BASIC        51,895       51,540         51,781       51,856
       -DILUTIVE     52,869       52,219         52,650       52,373


PRO FORMA SHARE
 INFORMATION
 REFLECTING THE
 JANUARY, 2002
 3 FOR 2 STOCK
 SPLIT:
--------------
EARNINGS PER
 SHARE -BASIC      $   0.43     $   0.40     $     1.56     $   1.30
       -DILUTIVE   $   0.43     $   0.39     $     1.54     $   1.29

DIVIDENDS PER
 SHARE             $0.04583     $0.04583     $  0.18333     $0.17083

WEIGHTED AVERAGE
 NUMBER OF
 COMMON SHARES
 OUTSTANDING
       -BASIC        77,842       77,310         77,671       77,785
       -DILUTIVE     79,303       78,328         78,975       78,560




                        DENTSPLY INTERNATIONAL INC.
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                               (IN THOUSANDS)


                                     DEC. 31,     DEC. 31,
                                       2001         2000
                                    ----------   ----------
ASSETS

CURRENT ASSETS:
 CASH AND CASH EQUIVALENTS          $   33,710   $   15,433
 ACCOUNTS AND NOTES
  RECEIVABLE-TRADE, NET                191,534      133,643
 INVENTORIES                           197,454      133,304
 OTHER CURRENT ASSETS                   61,545       43,074
                                    ----------   ----------
  TOTAL CURRENT ASSETS                 484,243      325,454

PROPERTY,PLANT AND EQUIPMENT, NET      240,890      181,341
OTHER NONCURRENT ASSETS, NET         1,052,395      359,820
                                    ----------   ----------

TOTAL ASSETS                        $1,777,528   $  866,615
                                    ==========   ==========


LIABILITIES AND STOCKHOLDERS'
 EQUITY:

CURRENT LIABILITIES                 $  337,894   $  168,138
LONG-TERM DEBT                         723,524      109,500
OTHER LIABILITIES                      106,055       64,046
                                    ----------   ----------
 TOTAL LIABILITIES                   1,167,473      341,684

MINORITY INTEREST IN CONSOLIDATED
 SUBSIDIARIES                              437        4,561
STOCKHOLDERS' EQUITY                   609,618      520,370
                                    ----------   ----------

TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY               $1,777,528   $  866,615
                                    ==========   ==========

    --30--KMK/ph*

    CONTACT: DENTSPLY International Inc., York
             William R. Jellison, 717/849-4243

    KEYWORD: PENNSYLVANIA
    INDUSTRY KEYWORD: MANUFACTURING MEDICAL DEVICES EARNINGS
    SOURCE:  DENTSPLY International Inc.