Cytec Completes Acquisition of Inspec

WEST PATERSON, N.J. - Cytec Industries Inc. (NYSE:CYT) today announced that it has closed on its previously announced acquisition of Inspec Mining Chemicals (IMC), a Chilean manufacturer of specialty mining chemicals.

"This business will be part of Cytec's Mining Chemical business, joining along with two other recent acquisitions, Nottingham's industrial minerals product line and the Oreprep mineral processing business. These three acquisitions broaden the range of product and process technologies for our customers in this key area. We will also achieve synergies in manufacturing, sales and administration," said David Lilley, Chairman, President and Chief Executive Officer.

This provides us a strategic manufacturing and research base in Chile and the service and support capabilities to meet the strong projected market growth in one of the world's largest copper-producing regions and further enhances our global leadership in mining chemicals," Lilley added.

Company Profile

Cytec Industries 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 or George Yuro (973) 357-3319