Cytec Responds to USA Today Article on Price Fixing

WEST PATERSON, N.J. - Cytec Industries Inc. (NYSE:CYT) David Lilley, Chairman, President and CEO of Cytec Industries Inc. (NYSE:CYT) said, "Cytec Industries was mentioned today in the Money section of USA Today. Certain statements in the article do not apply to Cytec. For example:

"Cytec is not and has never been a producer of carbon fiber. In fact, Cytec is a large buyer of carbon fiber.

"Cytec has not been accused of price fixing by the Justice Department and its facilities were not raided by the FBI.

"As noted in Cytec's first quarter 1999 10-Q filing with the SEC, the company received a subpoena in January 1999 to provide documents to a grand jury investigation of the carbon fiber and prepreg industry. While the company is a major producer of carbon fiber reinforced prepregs, the company believes it is not the target of this investigation.

"As is often the case, this grand jury investigation recently spawned a few related class action lawsuits. We believe those are without merit with respect to Cytec Industries Inc."

Additionally, Lilley said, "Cytec has always conducted its business with the utmost integrity. We are confident the conclusion of this matter will result in a favorable outcome for Cytec."

Cytec Industries Inc. is a specialty chemicals and materials technology company with 1998 sales of $1.4 billion and diluted earnings per share of $2.68. Its growth strategies are based on developing technologically advanced customer solutions for global markets, including: aerospace, plastics, industrial coatings, mining, paper and water treatment. Cytec is in the S&P Mid-Cap 400 index.

Contact: Cytec Industries Inc. William (Bill) Cleary (investment community) (973) 357-3298 George Yuro (973) 357-3319