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FIRST BRANDS INCREASES REGULAR QUARTERLY CASH DIVIDEND

 FIRST BRANDS INCREASES REGULAR QUARTERLY CASH DIVIDEND
 DANBURY, Conn., Oct. 22 /PRNewswire/ -- The board of directors of First Brands Corporation (NYSE: FBR) today declared an increase in the company's regular quarterly cash dividend on its common stock, the first increase since the company became public in December, 1989.
 Shareholders of record on Dec. 30, 1992 will be entitled to receive a cash dividend of $.06 for each common share owned. The payable date is Jan. 20, 1993. Previous quarterly dividends were at $.01 per common share. First Brands Corporation had approximately 21,685,965 shares outstanding on Oct. 21, 1992.
 Alfred E. Dudley, chairman and CEO, commented, "This is the first increase in our dividend since we became a public company almost three years ago. The strengthening of our balance sheet from significant debt reduction, our strong cash flow and our prospects for long term growth have enabled us to make this important move."
 Mr. Dudley continued, "We are confident that the dividend increase will not compromise our priorities to grow our present brands or to make acquisitions. It will also not interfere with our objective to continue reducing leverage towards our 40 percent debt to total capital goal in two years."
 First Brands Corporation develops, manufactures, markets and sells leading consumer products sold under the GLAD, GLAD-LOCK, SCOOP AWAY, EVER CLEAN, PRESTONE, STP, and SIMONIZ brands.
 -0- 10/22/92
 /CONTACT: Donald A. DeSantis, vice president & chief financial officer, 203-731-2306/
 (FBR) CO: First Brands Corporation ST: Connecticut IN: HOU SU: DIV


SM-AH -- NY112 -- 3709 10/22/92 14:18 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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