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American Pacific Completes Debt Offering

13 March 1998

American Pacific Completes Debt Offering

    LAS VEGAS, March 13 -- American Pacific Corporation
announced today that on March 12, 1998 it completed a private
placement of $75 million principal amount of its 9 1/4% Senior Notes due 2005
to institutional investors through Credit Suisse First Boston Corporation.
The Senior Notes have been rated BB- by Standard & Poor's Ratings Group and B1
by Moody's Investor Service, Inc.  The Senior Notes pay interest only at the
rate of 9 1/4% per year until their maturity on March 1, 2005.
    The net proceeds of the financing have been used to pay the $39 million
purchase price for certain intangible assets and rights of Kerr-McGee Chemical
LLC related to the production of ammonium perchlorate, to repay certain
outstanding indebtedness and for other corporate purposes.
    No registration statement relating to the Senior Notes has been filed with
the Securities and Exchange Commission and these securities may not be offered
or sold in the United States absent registration or an applicable exemption
therefrom, under Rule 144A or otherwise.  This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any State in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such State.
    American Pacific Corporation is a specialty chemical company that produces
products used primarily in space flight and defense systems, automotive airbag
safety systems and fire extinguishment systems.  The Company also designs and
manufactures environmental protection products and is involved in real estate
development.

SOURCE  American Pacific Corporation