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DEXTER ANNOUNCES EXPECTED RESULTS

 DEXTER ANNOUNCES EXPECTED RESULTS
 WINDSOR LOCKS, Conn., Jan. 10 /PRNewswire/ -- The Dexter Corporation


(NYSE: DEX) announced today that it expects to report an overall net loss for 1991 in the range of $6 to $7 million, or approximately 25 to 30 cents per share.
 The causes of the loss are an 86 cent per share charge for environmental settlement costs taken through the first three quarters of 1991 and costs of approximately 68 to 70 cents per share related to the anticipated loss on the sale of the company's pultrusions and composites businesses as well as costs associated with the previously announced restructuring and realignment of operations. These charges will more than offset results from operations for the year, which are expected to approximate $1.26 or $1.27 per share based on preliminary figures for the fourth quarter.
 The net loss in the fourth quarter is expected to be in the range of $10 to $11 million, or about 43 cents per share. The fourth quarter loss comprises a charge of approximately 47 cents per share to recognize the anticipated loss on divesting businesses, a charge of about 19 cents per share with respect to the realignment of operations, and profits from operations preliminarily indicated to be around 23 cents per share. The earnings from operations in the fourth quarter are below those for the fourth quarter of last year and also characteristically below the 35 cents per share from operations reported for the third quarter of this year. In the final 1991 quarter, sales to the aerospace, food packaging, and medical markets showed strength while sales to the automotive, electronics, and construction markets were weak.
 The fourth quarter divestiture charge represents approximately 47 cents per share in recognition of an anticipated loss on the sale of the company's pultrusions and composites businesses, which are being sold as part of the company's overall strategy of focusing on defined growth markets. The remaining fourth quarter charge represents approximately 19 cents per share, and includes costs relating to the recently announced reorganization and the resulting elimination of the company's group management structure. Approximately 10 cents per share of these realignment costs directly result from the elimination of approximately 100 salaried positions.
 As previously announced, the company has placed its Water Management Systems Division operations in North America up for sale. It is the company's objective to sell these operations at an appropriate value by the close of the second quarter of this year. It is expected that the sale will result in a capital gain.
 K. Grahame Walker, president and chief executive officer, stated that "these moves and their associated costs, together with the acquisitions we have made, represent completion of the basic plan to streamline and redirect the company into a market-oriented strategy for the '90s without eroding our sales base. Having additionally provided for all the financial aspects of the environmental issue, the clear objective now is to establish earnings growth."
 The Dexter Corporation is a Fortune 500 company producing specialty materials in five strategic markets: aerospace, automotive, electronics, food packaging, and medical. Founded in 1767, Dexter is the oldest company listed on the New York Stock Exchange.
 -0- 1/10/92
 /CONTACT: K. Grahame Walker, president of Dexter, 203-627-9051/
 (DEX) CO: Dexter Corporation ST: Connecticut IN: SU:


GK-CT -- NY035 -- 8609 01/10/92 11:53 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Jan 10, 1992
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