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THE SHERWIN-WILLIAMS COMPANY ISSUES CLARIFICATION

 CLEVELAND, April 19 /PRNewswire/ -- Conway G. Ivy, vice president, corporate planning and development, The Sherwin-Williams Company (NYSE: SHW) today released the following statement:
 "In our news release announcing increased first quarter 1993 earnings, an ambiguity in Mr. Breen's statement became apparent which we wish to correct. When Mr. Breen referred to the outlook for the remaining part of the year being uncertain, he was referring to the United States economy, not the outlook for our company. Accordingly, to clarify this, page one of our news release has been revised. The revised statement follows."


THE SHERWIN-WILLIAMS COMPANY REPORTS FIRST QUARTER 1993 EARNINGS RESULTS
 CLEVELAND, April 19 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) reported an increase in first quarter 1993 income of 18.8 percent to $13,810,000 or $.15 per share compared to restated profits of $11,628,000 or $.13 per share in the first quarter of 1992. First quarter net sales increased 4.0 percent to $618,289,000 from $594,561,000 in 1992. Last year's reported income was restated for both the cumulative effects and the retroactive adoption of new accounting standards for postretirement benefits and income taxes. The first quarter of 1992, after recording the effects of such accounting changes, resulted in a loss of $.80 per share.
 Net sales in the Paint Stores Segment increased 4.7 percent during the first quarter. Comparable-store sales were up 3.7 percent. The Paint Stores Segment's operating loss decreased 11.0 percent to $5,523,000. Retail sales continue to be sluggish and retail product margins have been affected by selling price adjustments on certain non- paint products to better meet competition.
 Sales of the Coatings Segment increased a modest 3.0 percent in the first quarter. Operating profits of the Segment improved 10.0 percent to $36,606,000 over last year's first quarter results. Ongoing cost containment and manufacturing efficiencies partially offset by moderate increases in some raw material costs helped the Segment achieve the profitability gains.
 The Other Segment, consisting of the company's real estate operations, realized a 27.4 percent increase in operating profits on a 4.6 percent increase in revenue.
 Commenting on 1993's first quarter results, John G. Breen, chairman and chief executive officer said, "We are pleased with the company's first quarter increase in profitability on moderate sales gains during our seasonally low quarter. The U.S. economic outlook for the remaining part of the year is uncertain, especially in view of the government's tax and spending proposals which would have a negative impact on the economy. We remain cautious in our outlook for the future but anticipate a continued slow-growth economic environment. Regardless, the gains in profitability of the first quarter are indicative of our results. In 1993, we expect another year of improved sales and earnings performance."
 -0- 4/19/93
 /CONTACT: Conway G. Ivy, vice president, corporate planning and development, The Sherwin-Williams Company, 216-566-2102/
 (SHW)


CO: The Sherwin-Williams Company ST: Ohio IN: CST SU:

BM -- CL016 -- 7439 04/19/93 13:04 EDT
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Date:Apr 19, 1993
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