Koppers RESULTS FOR FOURTH QUARTER 1999

                                 (Unaudited)

                     (MILLIONS EXCEPT EARNINGS PER SHARE)

 

                              QUARTERS ENDED           TWELVE MONTHS ENDED

                                DECEMBER 31,              DECEMBER 31,

                             1999         1998          1999         1998

 

    INCOME STATEMENT DATA:

 

    NET SALES               $163.1        $158.8       $664.1        $670.6

 

    OPERATING EXPENSES:

      COST OF SALES         $133.6        $132.6       $548.9        $553.5

      DEPRECIATION &

       AMORTIZATION           $6.3          $7.9        $27.1         $30.6

      SELLING, GEN'L

       & ADMIN.              $10.5          $8.4        $37.4         $39.9

      RESTRUCTURING

       CHARGES                $0.0         ($1.0)        $0.0         ($1.0)

    TOTAL OPERATING

     EXPENSES               $150.4        $147.9       $613.4        $623.0

    OPERATING PROFIT         $12.7         $10.9        $50.7         $47.6

 

    EQUITY IN EARNINGS

     OF AFFILIATES            $0.5          $0.4         $1.7          $2.4

    OTHER INCOME              $0.8          $0.0         $0.8          $0.0

 

    EARNINGS BEFORE INTEREST

     & TAXES (EBIT)          $14.0         $11.3        $53.2         $50.0

    INTEREST EXPENSE          $6.8          $7.7        $28.1         $29.7

    INCOME (LOSS) BEFORE

     TAXES                    $7.2          $3.6        $25.1         $20.3

    INCOME TAX PROVISION      $2.1         ($0.2)        $0.2         ($0.3)

    MINORITY INTEREST         $0.4          $0.0         $0.7          $0.5

 

    NET INCOME                $4.7          $3.8        $24.2         $20.1

 

    DILUTED EARNINGS

     PER SHARE               $1.23         $0.93        $6.23         $4.85

 

    EARNINGS BEFORE

     INTEREST, TAXES

     DEPRECIATION &

     AMORTIZATION (EBITDA)   $20.3         $19.2        $80.3         $80.6

 

    OTHER DATA:

      CAPITAL EXPENDITURES

       (EXCLUDING

       ACQUISITIONS)          $9.3          $9.7        $22.5         $20.2

      TOTAL DEBT            $309.8        $332.7       $309.8        $332.7

      TOTAL CASH             $18.3         $16.6        $18.3         $16.6