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TENNECO BOARD ELECTS MICHAEL H. WALSH CHAIRMAN, AND DANA G. MEAD PRESIDENT

 TENNECO BOARD ELECTS MICHAEL H. WALSH CHAIRMAN,
 AND DANA G. MEAD PRESIDENT
 HOUSTON, May 12 /PRNewswire/ -- Tenneco Inc. (NYSE: TGT) Chairman and Chief Executive Officer Michael H. Walsh, citing a stronger balance sheet and a significant increase in first quarter earnings, told shareholders at the annual meeting, "You have our commitment that we will continue to work relentlessly on both balance sheet goals and improved profitability. Our goal is to continue providing improved results."
 Walsh's remarks to shareholders preceded a board of directors meeting at which he and Tenneco's Chief Operating Officer Dana G. Mead were elected to new executive positions. In line with previously announced plans, the board elected Walsh to the additional position of chairman of the board, and Mead to the additional position of president.
 Walsh joined Tenneco in September 1991 as president, and was elected chief executive officer effective Jan. 1, 1992. During his eight months at the company, Tenneco has undertaken three billion in action programs designed to help strengthen the company's balance sheet, enhance its financial flexibility, and improve its long-term earnings prospects.
 "Accomplishing three billion in restructuring in approximately three quarters speaks clearly to the commitment of everyone at Tenneco to join together to do what is necessary to build a strong foundation for the future," said Walsh.
 In carrying out that restructuring program, the company sold non- core assets, raised new equity, cut the common stock dividend, and reduced costs and capital expenditures, along with other actions.
 "As was the case with the balance sheet restructuring, Tenneco people in every division put their shoulders to the wheel and made an enormous contribution to doing what it took to hit our first quarter targets," said Walsh.
 Tenneco's new chairman, Walsh replaces James L. Ketelsen, who announced his retirement late last year. Ketelsen has been chairman of Tenneco since July 1978, and was also chief executive officer until January 1992. Prior to his service at Tenneco, Ketelsen was president of J I Case, which he joined in 1959.
 Mead Elected President
 In his new position as Tenneco's president, Mead retains the position of chief operating officer and continues to have oversight responsibility for Tenneco's six major operating divisions. Mead joined Tenneco in April 1992 as chief operating officer and a member of the board.
 "Although I've been here for a short time, I've been impressed by what I have seen and heard from an operational sense," said Mead. "Each of our businesses has unique qualities and good underlying fundamentals which bode well for future growth and profitability."
 Regarding Mead's appointment to president, Walsh said, "Dana will play a key role in helping Tenneco emerge from its restructuring as a growth-oriented diversified industrial company with strong U.S. markets and a commitment to grow in global markets."
 Board Approves Dividend
 In a separate release, Tenneco today announced that its board of directors declared regular quarterly dividends on the company's common stock, depositary shares, and preferred stock.
 Tenneco Inc. is a Houston-based diversified industrial corporation with major business interests in natural gas pipelines, farm and construction equipment, shipbuilding, automotive parts, packaging, and chemicals.
 -0- 5/12/92
 /CONTACT: Christine LeLaurin of Tenneco, 713-757-2761/
 (TGT) CO: Tenneco Inc. ST: Texas IN: OIL SU: PER


LR -- NY114 -- 9387 05/12/92 17:54 EDT
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Date:May 12, 1992
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