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DOW CORNING SECOND-QUARTER FINANCIAL RESULTS TO INCLUDE $45 MILLION PRE-TAX CHARGE

 DOW CORNING SECOND-QUARTER FINANCIAL RESULTS
 TO INCLUDE $45 MILLION PRE-TAX CHARGE
 MIDLAND, Mich., June 18 /PRNewswire/ -- Dow Corning Corporation today announced that its upcoming second-quarter financial results will include a pre-tax charge of $45 million for costs associated with its discontinued breast implant products.
 The charge for the quarter ending June 30, 1992, includes estimated future costs for ongoing research associated with breast implants; continued communication with patients, the medical community and other interested parties; the retrieval of breast implant inventories from Dow Corning's medical customers; and various legal defense matters.
 "During the previous two quarters, Dow Corning also reported pre-tax charges for expenses related to specific activities surrounding the breast implant issue," said Keith R. McKennon, chairman and chief executive officer. "Today's announcement addresses a wider range of foreseeable costs which we are now better positioned to estimate as the issue has become more stabilized. We believe this second-quarter pre-tax charge, combined with previous charges, is sufficient to cover reasonably anticipated costs associated with breast implants and will allow our future financial results to more clearly reflect the financial health of our ongoing business."
 "When Dow Corning decided to exit the breast implant business, we made a commitment to patients and doctors that we would continue to build on our 30 years of safety research and we would continue to communicate with and be accessible to women who have our implants," commented McKennon. "This pre-tax charge anticipates future costs associated with providing ways for patients and the medical community to access information on breast implants, including our future participation in an implant registry for existing patients, the continued operation of our Implant Information Center, and our toll-free hotline. While it is impossible to be certain about the outcome of litigation, based on currently available information we believe that this charge includes the costs associated with Dow Corning's legal defense."
 Dow Corning previously reported pre-tax charges of $25 million in the fourth quarter of 1991 for expenses related to terminating the sale and manufacture of breast implants. The company's first-quarter 1992 results included $24 million for litigation and product liability insurance costs.
 Dow Corning is jointly owned by Corning Incorporated (NYSE: GLW) and The Dow Chemical Company (NYSE: DOW).
 -0- 6/18/92
 /CONTACT: Scott Seeburger of Dow Corning Corporation, 517-496-4078 or 517-496-6443/
 (DOW GLW) CO: Dow Corning Corporation ST: Michigan IN: HEA MTC SU: ERP


SM-DD -- DE027 -- 1640 06/18/92 16:20 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
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