Crompton & Knowles, Witco Merge

Shareholders of Crompton & Knowles Corporation and Witco Corporation today approved proposals creating CK Witco Corporation, and the merger subsequently was completed. The new company will begin trading on the New York Stock Exchange tomorrow, September 2 under the ticker symbol CNW.

Each common share of Crompton & Knowles is automatically converted into one common share of CK Witco, and each common share of Witco will be exchanged for 0.9242 share of common stock of CK Witco. There are 119 million common shares of CK Witco outstanding. The transaction is tax-free to shareholders of both companies.

CK Witco Corporation is one of the world's largest specialty chemical companies.

For more information: Patricia McLean, Tel: 203-552-2273.