---

GenCorp Acquires PolymerLatex' U.S. Acrylics Business in Mass.

2 December 1998

GenCorp Acquires PolymerLatex' U.S. Acrylics Business in Massachusetts

 U.S. acrylics activities of European joint venture between Bayer AG and Huls
               AG will add exciting, leading edge technologies

    FAIRLAWN, Ohio, Dec. 2 -- GenCorp announced today
that it has purchased the U.S. acrylic emulsion polymers business of
PolymerLatex, located in Fitchburg, Massachusetts.  PolymerLatex is a 50/50
joint venture company of two major Germany-based chemical producers, Bayer AG
and Huls AG.  The Fitchburg facility, located about 45 miles northwest of
Boston, will be integrated into GenCorp's Performance Chemicals unit, which is
a key growth platform for the Company.  Terms of the transaction were not
disclosed.
    This announcement closely follows the completion in October of GenCorp's
Sequa Chemicals acquisition.
    "This acquisition, along with others completed during 1998, exemplifies
GenCorp's strategy for our growth platform businesses to strengthen our
position in existing markets and expand into new but related markets," said
John Yasinsky, GenCorp's Chairman and CEO.
    PolymerLatex holds a strong technology position in Europe in acrylic and
styrene acrylic latex emulsions.  The PolymerLatex acquisition builds upon
GenCorp's product expertise in textiles, nonwovens, paper and coatings and
provides GenCorp with manufacturing and supply capability in the Northeast.
The acquisition accelerates the expansion of GenCorp's product line which has
already been enhanced by the addition of vinyl acetate, acrylics and styrene
acrylics along with related chemical additive products obtained in the Sequa
Chemicals purchase.
    "The acquisition of PolymerLatex extends our product lines, giving us the
ability to provide an additional set of price and performance options to our
customers," said Marvin Zima, President, GenCorp Performance Chemicals.  "It
gives us access to a significant amount of World Class emulsion technology
that complements development work we've already been doing in acrylic polymers
and copolymers."
    GenCorp Performance Chemicals serves the paper, carpet, textiles,
nonwovens, graphic arts, construction and specialties industries.
    GenCorp Inc. is a market-driven, technology-based manufacturer with
leading positions in numerous polymer product markets as well as the aerospace
and defense and automotive industries.