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GRACE FIRST QUARTER RESULTS TO BE LOWER; FULL YEAR INCREASE TO EXCEED 10%; STRATEGIC PROGRAM ON TARGET

 GRACE FIRST QUARTER RESULTS TO BE LOWER;
 FULL YEAR INCREASE TO EXCEED 10%; STRATEGIC PROGRAM ON TARGET
 BOCA RATON, Fla., April 1, 1992--W. R. Grace & Co. (NYSE: GRA) indicated today that earnings for the first quarter are likely to be lower than the 36 cents per share reported for the first quarter a year ago. Grace noted that earnings for the year should still be in line with the company's goals and analysts' expectations -- an increase of more than 10 percent over the $2.50 per share posted for the full year 1991. Grace pointed out that its first quarter traditionally contributes earnings at about half the rate of the remaining quarters.
 Grace said that the shortfall in the quarter is primarily related to timing and continuing weakness in the energy sector. The packaging and cocoa businesses, which experienced unusual conditions during the first quarter, are expected to achieve their goals for the year.
 "We are on target with the implementation of our worldwide strategic plan which includes business restructurings, cost reductions and divestments of non-core businesses," a Grace spokesman said. "We remain focused on implementing our strategic plan, and we are confident that we will achieve our aggressive financial goals for 1992 and beyond."
 Grace is the world's largest specialty chemicals company with a leadership position in health care.
 -0- 4/1/92
 /CONTACT: Chuck Suits of W. R. Grace & Co., 407-362-2600 or 800-GRACE99/
 (GRA) CO: W. R. Grace & Co. ST: Florida IN: CHM SU:


SS-XX -- FL003 -- 3753 04/01/92 09:15 EST
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Publication:PR Newswire
Date:Apr 1, 1992
Words:255
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