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GRACE ANNOUNCES NOTE OFFERING

 BOCA RATON, Fla., Jan. 21 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced the public offering of $300 million of 7.40 percent Notes Due 2000 at an initial public offering price of 100 percent of their principal amount. The Notes are to be issued by Grace's principal operating subsidiary and guaranteed by Grace.
 Interest on the Notes will be payable semiannually on Aug. 1 and Feb. 1.
 Salomon Brothers Inc. is the managing underwriter for the issue; Citicorp Securities Markets, Inc., The First Boston Corporation and J. P. Morgan Securities Inc. are co-managers.
 The net proceeds from the sale of the Notes will be used to repay commercial paper and/or bank borrowings, with various maturities and bearing interest at various rates.
 Grace is the world's largest specialty chemicals company with a leadership position in health care.
 -0- 1/21/93
 /CONTACT: Chuck Suits of W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA)


CO: W. R. Grace & Co. ST: Florida, New York IN: CHM SU: OFR

AW-JJ -- FL018 -- 7596 01/21/93 16:13 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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