OLD WORLD SOLIDIFIES POSITION AS CAUSTIC SODA INDUSTRY LEADER WITH ADDITION OF EAST COAST DISTRIBUTION TERMINAL

(Northbrook, IL / 7-19-00) Old World Industries (OWI), the nation's largest reseller of liquid caustic soda, has announced the addition of a state-of-the-art distribution point in Bayonne, NJ which greatly expands its ability to service the northeast United States. A multi-year throughput agreement with IMTT is effective August 1, 2000. The Bayonne terminal gives OWI a total of 13 marine served distribution points, enabling the industry leader and its customers to benefit from optimum purchasing and distribution economics.

Currently at the Bayonne facility, Old World packages six proprietary brands of antifreeze, including PEAK one of the world's leading brands of automotive antifreeze. In addition, the company also distributes caustic soda from IMTT's Lemont, IL facility.

"Bayonne, NJ is an ideal storage and distribution location for Old World Industries," said Joel Saltzman, vice president and general manager of OWI's Industrial Chemical Division. "It brings us outstanding northern market coverage to complement our existing east coast distribution points in Jacksonville, FL, Charleston, SC and Wilmington, NC." The Bayonne terminal also provides easy access by vessel. This will allow OWI to capitalize on favorable economics from the global supply chain.

With over 800,000 short dry tons of caustic soda purchased by companies within 150 miles of the new Bayonne, NJ terminal, OWI looks forward to entering the northeast market as a value-added source for both distributors and end users. To further solidify its position as an industry leader, OWI has recently hired Jim Slack, a 25 year veteran of the chemical industry, to serve as its east coast sales manager. "Jim will be a tremendous asset to Old World Industries because he has a wealth of industry experience and personal contacts with top level decision-makers," said James A. Bryan, President of OWI's Industrial Division. "He will oversee the expanded sales responsibilities for caustic soda and glycols as we integrate our consumer antifreeze business with our role as a supplier of ethylene oxide/ ethylene glycol to other chemical companies, distributors and end users."

According to OWI Chairman Thomas Hurvis, Old World Industry's outstanding reputation of service and reliability, and its continued success in the automotive and industrial sectors are direct results of the dedication and professionalism of its 150 employees. "Whether we are serving our industrial or automotive customers, people make the difference...and we've got excellent people in place at OWI," he said.

Old World Industries, a privately-held company with world headquarters in Northbrook, IL, markets and sells automotive parts and chemical products in more than 50 countries. With the blending of 45-50 million gallons of antifreeze (including its popular PEAK brand), Old World is the largest manufacturer of antifreeze in the U.S. In addition to caustic soda, the industrial group's flagship product, OWI is a leading supplier of deicing agents to more than 75 airports, including Chicago's O'Hare. Through its SAFEWAY brand, OWI is on the leading edge of technology to support the airport runway deicing segment. The company's automotive brands include: SplitFire® Spark Plugs and DUAL-MAG Ignition Wire Sets for automobiles, trucks and motorcycles; HERCULINER Brush-On Bed Liner Kits; and PEAK Performance Products. OWI has recently made headlines with news of their acquisition of Celanese's ethylene oxide/ethylene glycol plant in Clear Lake, TX.

Media Contacts: Jim Rednour
                          773-342-9900
                          HeislerGordon

Joel Saltzman   800-323-5440
                        Old World Industries Industrial Chemicals Division