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A. Schulman Board Authorizes Repurchase of Additional 6 Million Shares

21 August 1998

A. Schulman Board Authorizes Repurchase of Additional 6 Million Shares, Approximately 20 Percent of Shares Outstanding; Prior 1.5 Million Share Buyback Nears Completion

    AKRON, Ohio--Aug. 21, 1998--The Board of Directors of A. Schulman, Inc. (The Nasdaq stock market:SHLM) at a special meeting today announced that it has authorized the Company to repurchase up to an additional 6 million, or approximately 20 percent, of its outstanding common shares.
    The Company has purchased approximately 1.4 million shares under a 1.5 million common share repurchase authorization announced June 17 and expects to complete that repurchase program shortly.
    "Today's additional repurchase authorization reflects the Board's continuing confidence that, at its current market price levels, A. Schulman stock represents an excellent investment," stated Terry L. Haines, president and chief executive officer. "This action confirms both the Board's and management's commitment to enhance shareholder value and their belief that a stock repurchase program is an excellent and productive use of the Company's cash flow."
    Mr. Haines commented that share repurchases continue to be accretive to the Company's earnings. Beginning with the initial 3 million common share repurchase program authorization in November 1996, the Company has repurchased approximately 4.4 million common shares for a total of $88.8 million. The Company had 33.5 million shares outstanding as of August 20, 1998.
    Headquartered in Akron, Ohio, A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The Company employs 2,200 people and has 13 manufacturing facilities in North America, Europe, Mexico and the Asia-Pacific region. Revenues for the fiscal year ended August 31, 1997 were approximately $1 billion. Additional information about A. Schulman can be found on the World Wide Web at www.aschulman.com.