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VALHI TO ADOPT NEW ACCOUNTING STANDARDS IN 1992

 DALLAS, Dec. 31 /PRNewswire/ -- Valhi Inc. (NYSE: VHI) announced today that it will report a net one-time non-cash charge of approximately $70 million, or approximately $.61 per share, as a result of adopting two accounting changes retroactive to Jan. 1, 1992. The changes in accounting methods relate to postretirement benefits other than pensions (OPEB) and income taxes as prescribed by Statements of Financial Accounting Standards (SFAS) Nos. 106 and 109 respectively. The effect of these accounting changes will be recognized as cumulative catch-up adjustments as of Jan. 1, 1992, and will result in a restatement of the company's previously reported 1992 quarterly results.
 Approximately 90 percent of Valhi's net one-time charge is attributable to the company's interests in its unconsolidated affiliates, 49 percent-owned NL Industries Inc. and 48 percent-owned Tremont Corp., including adjustment of certain of the company's purchase accounting basis differences originally recorded net-of-tax at rates differing from current tax rates. Both NL and Tremont, as well as Valhi, are adopting SFAS Nos. 106 and 109 in 1992.
 While adoption of these new accounting standards impacts reported financial position and results of operations, they relate to accrual accounting for OPEB and to accounting for deferred income taxes and, accordingly, do not affect the company's cash flows.
 Valhi Inc., headquartered in Dallas, is a diversified company engaged in the refined sugar, forest products, fast food and hardware products industries and, indirectly through publicly traded NL and Tremont, in the chemicals, titanium metals and bentonite mining industries. Valhi's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "VHI."
 -0- 12/31/92
 /CONTACT: William C. Timm, VP of finance and administration of Valhi, 214-450-4212/
 (VHI)


CO: Valhi Inc. ST: Texas IN: FOD, PAP SU:

MS-JB -- LA005 -- 0907 12/31/92 12:43 EST
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Publication:PR Newswire
Date:Dec 31, 1992
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