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GenCorp Announces Expected Earnings for Q3 1998

12 August 1998

GenCorp Reports Impact of Strike at GM

    FAIRLAWN, Ohio, Aug. 12 -- GenCorp reported today
that it expects earnings per share for the third quarter ending August 31,
1998 to decline approximately 5-10% versus $0.44 earnings per share from
continuing operations reported for the third quarter of 1997.  The Company's
earnings will be affected by approximately $(0.10) per share in the quarter
from the impact that the strike at General Motors had on the Vehicle Sealing
business, which is also experiencing higher than expected launch costs.  The
Company's other segments, aerospace and defense and polymer products, which
represent over 75% of GenCorp's total sales, are expected to continue their
strong year-to-date trend of substantially improved operating performance.
The Company expects to report actual third quarter results on September 14,
1998.
    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 1997 annual report and in the annual report on
Form 10K 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.
    GenCorp is a market-driven, technology-based manufacturer with leading
positions in numerous polymer product markets as well as the automotive and
aerospace and defense industries.
    Web site:  http://www.gencorp.com