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DuPont Forms World's Largest Automotive Coatings Company

1 March 1999

DuPont Forms World's Largest Automotive Coatings Company

    WILMINGTON, Del., March 1 -- DuPont today announced the
completion of its acquisition of Herberts, the coatings subsidiary of Hoechst
AG, with management ceremonies in Wuppertal, Germany.  Terms of the
acquisition remained unchanged from the preliminary agreement last October, a
stock purchase with payment at closing of approximately $1.9 billion USD (DM
3.1 billion).
    The combined business, to be known as DuPont Performance Coatings, will
have annual sales of more than $3.8 billion, making DuPont the world's largest
supplier of automotive coatings and the third largest coatings company,
overall.  It is projected that the impact of this business acquisition on
DuPont earnings per share will be essentially neutral for 1999, and will
generate significant shareholder value thereafter.
    "We are extremely pleased by the talent, complementary technology, market
positions and regional customer service capabilities we've already seen in the
Herberts organization," said Louis F. Savelli, who has been named president,
DuPont Performance Coatings.  "With such an excellent fit, we will create a
significantly improved global business with strong growth and earnings
potential," he said.
    Executive management appointments will be balanced by region from both the
DuPont and Herberts organizations, according to Savelli.  He named the
following to leadership positions:
    Edward J. Donnelly, formerly director of planning for DuPont Finishes, is
named vice president and general manager -- Americas, with global
responsibility for the DuPont Refinish and Liquid Industrial Coatings
businesses.  He reports to Savelli and will be located in Wilmington, Del.
    John (Jack) R. Lewis, former vice president -- DuPont Automotive OEM
finishes, becomes vice president and general manager, DuPont Performance
Coatings -- Europe and Asia, with global responsibility for the newly named
divisions, DuPont Herberts Automotive Systems (automotive OEM coatings) and
DuPont Powder Coatings.  He reports to Savelli and will relocate from Troy,
Mich., to a yet-to-be-determined company site in Europe.
    Horst Hoelzlein, former president of Herberts Automotive Systems, is named
vice president -- DuPont Herberts Automotive Systems -- Europe and Asia.  He
will be located in Wuppertal, Germany.
    Marty M. McQuade, former director of DuPont automotive OEM coatings --
Europe, relocates from Bonn, Germany to Troy, Mich., as vice president of
DuPont Herberts Automotive Systems -- Americas.  Holzlein and McQuade will
report to Lewis.
    Jon Killingstad, former president of Herberts Liquid Industrial Coatings,
is appointed vice president of DuPont Refinish -- Europe and Asia.  He will
remain in Cologne, Germany.
    Douglas L. Moore, director of DuPont Refinish-Europe, relocates from
Mechelen, Belgium to Wilmington, Del. as vice president of DuPont Refinish --
Americas.  Moore, Schmitt and Killingstad will report to Edward Donnelly.
    Dieter Engel, president and CEO of Herberts Automotive Systems -- America,
is appointed global technical director of DuPont Performance Coatings.  He
will report to Savelli and relocate from Pontiac, Mich. to Wilmington, Del.
    Founded in 1802, DuPont is a global research and technology-based company.
DuPont serves worldwide markets including food and nutrition, health care;
agriculture, fashion and apparel; home and construction; electronics; and
transportation.  The company operates in more than 70 countries and has 92,000
employees.

    Note:  Forward-Looking Statements:  This news release contains forward-
looking statements based on management's current expectations, estimates and
projections.  All statements that address expectations or projections about
the future, including statements about the company's strategy for growth,
product development, market position, expected expenditures, financial results
are forward-looking statements.  Some of the forward-looking statements may be
identified by words like "expects," anticipates," "plans," "intends,"
"projects," "indicates," and similar expressions.  These statements are not
guarantees of future performance and involve a number of risks, uncertainties
and assumptions.  Many factors, including these discussed more fully elsewhere
in this release and in DuPont's filings with the Securities and Exchange
Commission, particularly its Current Report on Form 8-K filed on November 13,
1998 as well as others, could cause results to differ materially from those
stated.