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ROHM AND HAAS TO TAKE CHARGES FOR NEW ACCOUNTING RULES AND PLANT DOWNSIZING

 PHILADELPHIA, Dec. 28 /PRNewswire/ -- Rohm and Haas Company (NYSE: ROH) announced today that costs associated with adopting required accounting rules and charges related to its Philadelphia plant will reduce after-tax 1992 earnings by $218 million, or $3.29 per common share.
 Accounting Changes
 The new accounting rules are Statements of Financial Accounting Standards (SFAS) Number 106 (Employer's Accounting for Post-retirement Benefits Other Than Pensions) and Number 109 (Accounting for Income Taxes). The company will adopt these rules and apply them retroactively to Jan. 1, 1992.
 SFAS Number 106 requires firms to accrue expected retiree health care and life insurance costs while people are actively employed. In the past, the Rohm and Haas paid these expenses as they were incurred. The company estimates the one-time charge for adopting SFAS 106 for pre- 1992 liabilities to be $179 million after tax, or $2.70 per common share. The accrual for 1992 will be $7 million after tax, or $.11 per common share in addition to normal expenses for retiree benefits.
 Rohm and Haas also will adopt the new income tax accounting rule. Implementing SFAS 109 will increase earnings by $5 million, or $.08 per common share.
 Philadelphia Plant Charge
 Fourth quarter 1992 earnings will be charged $37 million after tax, or $.56 per common share for anticipated costs related to its manufacturing site in Philadelphia. This includes estimated costs for relocating, training or retiring plant employees, demolishing buildings, writing down the book value of plant assets, and site cleanup.
 Rohm and Haas previously announced plans to reduce the size of its Philadelphia plant from approximately 650 people today, to 125 people by 1997. The company said it hopes to make this reduction without layoffs.
 /delval/
 -0- 12/28/92
 /CONTACT: Laura Hadden of Rohm and Haas, 215-592-3054/
 (ROH)


CO: Rohm and Haas Company ST: Pennsylvania IN: CHM SU: ACC

MJ -- PH008 -- 0020 12/28/92 11:11 EST
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Date:Dec 28, 1992
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