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GenCorp Board Defers Dividend Action

13 September 1999

GenCorp Board Defers Dividend Action

    FAIRLAWN, Ohio, Sept. 10 -- At its regularly scheduled
meeting today, the Board of Directors of GenCorp Inc. deferred
action to declare a quarterly cash dividend on the outstanding common stock of
the Company.  The planned spin-off of GenCorp's Decorative & Building Products
and Performance Chemicals business units into OMNOVA Solutions Inc., a new
publicly traded company, is expected to be complete on or about October 1,
1999.  GenCorp will continue to operate Aerojet, its existing aerospace,
defense and fine chemicals segment, and its Vehicle Sealing business unit.
Post-spin, each company's Board of Directors will consider declaration of a
fourth quarter dividend at its initial meeting.
    GenCorp is a $1.7 billion technology-based manufacturer with leading
positions in numerous markets served by its Performance Chemicals, Decorative
& Building Products and Vehicle Sealing businesses, and its aerospace &
defense segment, Aerojet.