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Insilco Corp Announces Current Tender Results

12 August 1997

Insilco Corporation Announces Current Tender Results; Allows Shareholder To Tender Additional Shares

    COLUMBUS, Ohio, Aug. 12 -- Insilco Corporation
today reported that, as of 5:00 p.m., New York City time on August 11, 1997,
it had received a total of approximately 2,610,000 shares for tender, under
its previously announced offer to purchase up to 2,857,142 shares of its
common stock at $38.50 net per share.  The Offer, which commenced on July 11,
1997, will expire on August 12, 1997 at 5:00 p.m., New York City time.
    The Company said that because the Offer was undersubscribed, it was
waiving a provision of its purchase agreement with Water Street Corporate
Recovery Fund I, L.P. to allow for the tender of additional shares by Water
Street.  As reported in the Offer, on July 10, 1997 the Company entered into a
share purchase agreement with Water Street, in which the Company purchased
2,805,194 shares of common stock from Water Street and Water Street agreed to
tender no more than 960,577 shares in the Offer.  By today's waiver, the
Company has agreed to allow Water Street to tender additional shares.  The
waiver, however, limits any additional tender by Water Street to not more than
that number of shares that causes the Offer to be fully subscribed at
2,857,142 shares.  Shareholders who wish to tender additional shares must do
so prior to 5:00 p.m., New York City time, Tuesday, August 12, 1997.
    Insilco Corporation, based in suburban Columbus, Ohio, is a diversified
manufacturer of industrial components and a supplier of specialty
publications.  The Company's industrial business units serve the automotive,
electronics, telecommunications and other industrial markets, and its
publishing business principally serves the school yearbook market.  It had
revenues in 1996 of $572 million.
    Investor Relations Contact: David A. Kauer, 614-792-0468 or write to
Insilco Corporation, Investor Relations, 425 Metro Place North, Box 7196,
Dublin, OH 43017 or call Melodye Demastus, Melrose Consulting, 614-771-0860.

SOURCE  Insilco Corporation