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DISCONTINUED OPERATIONS' CHARGE TO REDUCE GRACE'S EARNINGS $1.16 PER SHARE

 BOCA RATON, Fla., July 19 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced that its second quarter 1993 earnings will be reduced by a special charge resulting from the company's decision to treat its remaining non-strategic businesses as discontinued operations. Grace said that it expects the charge to approximate $105 million after taxes, or $1.16 per share. The non-strategic businesses to be classified as discontinued operations include cocoa and a number of specialty chemicals businesses, such as printing products, engineered materials and electromagnetic radiation control.
 The company also indicated that net operating earnings in the 1993 second quarter are likely to be flat with the year ago quarter, which would be in line with analysts' expectations.
 "Taking action on these non-core businesses at this time accelerates our original restructuring timetable by up to six months," said J. P. Bolduc, president and chief executive officer. "Completion of this three-year restructuring plan will enable us to focus all our resources on our core businesses in specialty chemicals and specialized health care to maximize the Company's full growth potential."
 Grace is the world's largest specialty chemicals company and holds a leadership position in specialized health care.
 -0- 7/19/93
 /CONTACT: Chuck Suits of W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA)


CO: W. R. Grace & Co. ST: Florida IN: CHM SU: ERP

AW -- FL004 -- 3124 07/19/93 13:45 EDT
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Date:Jul 19, 1993
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