Cytec Industries Inc. Elects William F. Cleary Vice President, Investor Relations

20 July 1999

Cytec Industries Inc. Elects William F. Cleary Vice President, Investor Relations

    WEST PATERSON, N.J.--July 20, 1999--Cytec Industries Inc. announced today that the Board of Directors has elected William F. Cleary as Vice-President, Investor Relations. Cytec Industries is a leader in advanced specialty chemicals and materials technologies serving global markets with 1998 sales in excess of $1.4 billion.
    David Lilley, Chairman, President and Chief Executive Officer said, "The election of Bill as a corporate vice-president reflects the high priority the Board and I place on an open and proactive relationship with the investment community. He is our first full-time investor relations officer since Cytec's spin-off in late 1993. Bill will be reporting directly to me. He joins us from AMETEK Inc. where he was Vice-President of Investor and Corporate Relations. He previously served in investor relations and corporate finance positions with Quanex Corp. and Valero Energy Corp.
    "Bill's focus will be on strengthening our communications with the investment community to increase recognition of the shareholder value we are building. Cytec's stated long term targets are 5%-7% annual sales growth leading to a double digit earnings per share growth achievement. A key element in achieving these targets is sustainable long term growth. To achieve this we are leveraging our core technology competency to increase market share by serving our customers globally with more and better products than ever before. In addition, Cytec's focus on continuous improvement has been and will be an important part of delivering on our goals. There are many external and internal opportunities for Cytec going forward and Bill will play an important role in communicating these to the investment community."

    Company Profile

    Cytec Industries Inc. is a vertically integrated, specialty chemicals and materials company that focuses on value-added specialty products. The Company develops, manufactures and markets water and industrial process chemicals, performance products, specialty materials and building block chemicals to serve a broad group of end users, including the aerospace, plastics, coatings, mining, paper, water treatment and automotive industries.

    Forward-Looking and Cautionary Statements

    Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Achieving the results described in these statements involves a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in Cytec's filings with the Securities and Exchange Commission.