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GenCorp Postpones Shareholder Vote on Spin-Off Proposal

19 August 1999

GenCorp Postpones Shareholder Vote on Spin-Off Proposal

    FAIRLAWN, Ohio, Aug. 18 -- GenCorp announced today
that it has adjourned until September 8, 1999 the special shareholders'
meeting called to approve the proposed spin-off of its Polymer Product
businesses, as a new company known as OMNOVA Solutions Inc.  The meeting has
been adjourned because the Securities and Exchange Commission's comments
regarding the registration document for OMNOVA Solutions common stock was not
received by GenCorp until late afternoon yesterday.  Consequently, the Company
has not yet had the opportunity to analyze whether the Commission's comments
will require additional disclosure to shareholders prior to approval of the
spin-off.
    GenCorp is a $1.7 billion technology-based manufacturer which also holds
leading positions in markets served by its Performance Chemicals, Decorative &
Building Products and Vehicle Sealing businesses, and its aerospace and
defense segment, Aerojet.