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Insilco Holding Co. Completes Merger Agreement With Thermal Transfer

21 July 1999

Insilco Holding Co. Completes Merger Agreement With Thermal Transfer

    COLUMBUS, Ohio, July 20 -- Insilco Holding Co.
(OTC Bulletin Board: INSL) today announced that it completed the previously
announced merger with Racine, Wisconsin-based Thermal Transfer Products, Ltd.
Thermal Transfer is a leading manufacturer of industrial oil coolers and other
heat exchanger products, and generated approximately $28 million of revenues
in 1998.  Financial terms of the transaction were not disclosed.
    David A. Kauer, Insilco President and CEO, said "We are pleased to have
completed this merger as planned.  We see numerous opportunities to broaden
our product offerings in the industrial market and we also look forward to the
benefits we will gain by accessing Thermal Transfer's strong distributor
network."
    The statements made in this press release that are not historical facts
are forward-looking statements, including statements with respect to the
Company's ability to broaden its product offerings, benefits gained from
Thermal Transfer's distributor network, and the Company's ability to diversify
revenues in industrial heat exchanger markets and, as such, are subject to
certain risks and uncertainties.  It is important to note that results could
differ materially from those projected in such forward-looking statements.
Factors which could cause results to differ materially include, but are not
limited to the following: delays in new product introductions, difficulties in
combining acquired operations with existing operations, lack of market
acceptance for new products, changes in demand for the Company's products,
changes in market trends, general competitive pressures from existing and new
competitors, adverse changes in operating performance, changes in interest
rates, and adverse economic conditions which could affect the amount of cash
available for debt servicing and capital investments.  Further information
concerning factors that could cause actual results to differ materially from
those in the forward-looking statements are contained from time to time in the
Company's SEC filings, including but not limited to the Company's report on
Form 10-K/A for the year ended December 31, 1998 and report on Form 10-Q for
the quarter ended March 31, 1999.  Copies of these filings may be obtained by
contacting the Securities and Exchange Commission (SEC).
    Insilco Holding Co., based in suburban Columbus, Ohio, is a diversified
manufacturer of industrial components and a supplier of specialty
publications.  The Company's industrial business units serve the automotive,
electronics, telecommunications and other industrial markets, and its
publishing business serves the school yearbook market.  It had revenues in
1998 of $535.6 million.