Cytec Provides Impact of Hurricane Rita Update on Boeing Strike

Business Wire, Sept 27, 2005

WEST PATERSON, N.J. -- Cytec Industries Inc. (NYSE:CYT) advised today that Hurricane Rita did not cause any direct damage to its facilities in Texas and Louisiana. However, the curtailment of the supply of natural gas by the Company's primary provider necessitated an orderly shutdown of the Building Block Chemical's Fortier facility in Louisiana. The Company has now obtained natural gas at current spot prices from other providers and has restarted the Fortier facility. The cost of the shutdown, lost production, higher cost of natural gas and startup of production is estimated to reduce pretax earnings about $1 million ($0.01 per diluted share). The Company has contracted enough natural gas to operate to the end of the month and is working with its primary natural gas provider on resumption of regular deliveries.

"The Cytec employees at Fortier have shown tremendous resilience in dealing with the challenges caused by the recent natural disasters and we thank them for that" said Chairman, President and Chief Executive Officer, David Lilley.

The Company is not yet able to quantify the financial impact on the raw materials and energy that it purchases due to price increases and/or supply disruptions for oil and natural gas. The Company is in the process of assessing its ability to recover cost increases with price increases as well as other mitigating actions. In addition, the Company is working with its raw material, natural gas and transportation suppliers to reduce the impact from Hurricanes Katrina and Rita.

"Concerning our Engineered Materials segment", Lilley continued, "Boeing has recently announced an agreement to settle the machinists strike. If the union votes in favor of the settlement we would expect the strike to have had a minimal adverse impact to Cytec."

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Achieving the results described in these statements involves a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in Cytec's filings with the Securities and Exchange Commission.

Corporate Profile

Cytec Industries is a specialty chemicals and materials technology company with pro forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Its growth strategies are based on developing technologically advanced customer solutions for global markets including: aerospace, coatings, mining, plastics and water treatment.