GenCorp Releases Additional Details Regarding Sale of Electronics Unit

    SACRAMENTO, Calif., April 20 /PRNewswire Interactive News Release/ --
Earlier today, GenCorp announced that its Aerojet-General
subsidiary had signed a definitive agreement to sell Aerojet's Electronics and
Information Systems (EIS) business for $315 million in cash.  In response to
requests for additional details regarding the transaction, Terry Hall, Senior
Vice President and Chief Financial officer of GenCorp, stated "Upon close of
the transaction, we expect to see significant improvements in GenCorp's
balance sheet, with shareholder's equity growing to approximately $380 million
and debt decreasing to approximately $240 million.  This will facilitate
growth of Aerojet's remaining businesses in Sacramento."
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010108/SFM125LOGO )
    Hall said that in addition to the normal antitrust clearances, the sale
would require a Revenue Ruling from the IRS and a Prospective Purchaser
Agreement between the buyer and the United States.  "Because Aerojet is
retaining all pre-closing environmental liability for the business, we must
also obtain advance agreements from the Department of Defense covering
Aerojet's Global Settlement Agreement, under which the government recognizes
eight-eight percent of Aerojet's environmental costs as allowable," Hall
added.
    GenCorp is a technology-based manufacturer with leading positions in the
aerospace and defense, pharmaceutical fine chemicals and automotive
industries.
    This release contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995.  All statements in this release and
in subsequent discussions with the Company's management, other than historical
information, are forward-looking statements.  A variety of factors, which are
listed in the forward-looking statements section of Management's Discussion
and Analysis in the Company's 2000 annual report and in the annual report on
Form 10-K filed with the Securities and Exchange Commission could cause actual
results or outcomes to differ materially from those expected by the Company
and expressed in the Company's forward-looking statements.

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