Koppers Results for Second Quarter 1999

(MILLIONS EXCEPT EARNINGS PER SHARE)

QUARTERS ENDED JUNE 30,

SIX MONTHS ENDED JUNE 30,

1999

1998

1999

1998

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

INCOME STATEMENT DATA:

NET SALES

$172.8

$174.2

$330.2

$330.7

OPERATING EXPENSES:

COST OF SALES

$142.4

$141.2

$277.9

$272.7

DEPRECIATION & AMORTIZATION

$7.1

$7.5

$13.9

$15.1

SELLING, GEN'L & ADMIN.

$8.7

$10.7

$17.1

$21.0

TOTAL OPERATING EXPENSES

$158.2

$159.4

$308.9

$308.8

OPERATING PROFIT

$14.6

$14.8

$21.3

$21.9

EQUITY IN EARNINGS OF AFFILIATES

$0.3

$0.9

$0.6

$0.9

EARNINGS BEFORE INTEREST & TAXES (EBIT)

$14.9

$15.7

$21.9

$22.8

INTEREST EXPENSE

$7.1

$7.6

$14.0

$14.7

INCOME (LOSS) BEFORE TAXES

$7.8

$8.1

$7.9

$8.1

INCOME TAX PROVISION

($0.7)

$1.1

($0.7)

$1.1

MINORITY INTEREST

($0.1)

$0.2

$0.2

$0.4

NET INCOME

$8.6

$6.8

$8.4

$6.6

DILUTED EARNINGS PER SHARE

$2.18

$1.67

$2.13

$1.55

EBITDA:

EARNINGS BEFORE INTEREST & TAXES

$14.9

$15.7

$21.9

$22.8

PLUS DEPRECIATION & AMORTIZATION

$7.1

$7.5

$13.9

$15.1

NON-CASH EQUITY INCOME

($0.3)

($0.3)

$0.4

($0.3)

EARNINGS BEFORE INTEREST, TAXES

$21.7

$22.9

$36.2

$37.6

DEPRECIATION & AMORTIZATION (EBITDA)

OTHER DATA:

CAPITAL EXPENDITURES (EXCLUDING ACQUISITIONS)

$5.5

$3.9

$8.5

$6.6

TOTAL DEBT

$328.6

$345.1

$328.6

$345.1

EQUITY DIVIDENDS

$0.0

$0.6

$1.0

$0.6