NOVEON LOGO Noveon, Inc. logo. (PRNewsFoto)[TC] CLEVELAND, OH USA

    CLEVELAND, June 8 /PRNewswire/ -- Noveon, Inc., formerly BFGoodrich
Performance Materials, said today that it will restructure its colorants
business in Cincinnati, Ohio, through creation of a specialized colorants
commercial team and discontinuation of flush pigments and colorformer
products.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
    The Company intends to concentrate its business on the attractive dyes and
pigment dispersion product lines to take advantage of strategic growth
opportunities.  Dyes are used as colorants in food and beverage, household and
personal care product applications.  Pigment dispersions are used to impart
color to paint and coatings products.
    To accelerate the profitable growth of dyes and dispersions, the Company
is establishing a specialized commercial team that will focus exclusively on
growing the colorants business. Previously, sales of dyes and dispersions were
handled through a number of business units at Noveon.
    Steven J. Demetriou, Noveon President and Chief Executive Officer, said,
"This is an opportunity for us to realize a significant cash flow improvement
while focusing our resources more strategically and expanding our position in
these global businesses.  Our dyes and pigment dispersion businesses have a
strong, proven track record at the Cincinnati plant, and they have excellent
growth potential."
    Noveon will discontinue production of flush pigment and colorformer
products used primarily in graphic arts and other imaging applications.
Demetriou said that these products have become increasingly unprofitable.
    Approximately 80 positions will be eliminated, which represents about one-
third of the Cincinnati workforce.  The streamlining and refocusing of
operations on the core dye and pigment dispersion businesses is expected to
result in significant cost reduction and cash flow improvement during 2001.
    Noveon is a leading global producer and marketer of technologically
advanced specialty chemicals for a broad range of consumer and industrial
applications.  The Company was formed as an independent entity on February 28,
2001, when an investor group including AEA Investors, Inc., and affiliates of
DLJ Merchant Banking Partners and DB Capital Partners, Inc., acquired the
Performance Materials business from BFGoodrich.
    Noveon is headquartered in Cleveland, Ohio, with regional centers in
Brussels, Belgium, and Hong Kong.  About 2,900 Noveon employees work at
42 facilities.
    This release contains forward-looking statements that relate to future
events or performance.  These statements reflect the Company's current
expectations, and the Company does not undertake to update or revise these
forward-looking statements, even if experience or future changes make it clear
that any projected results expressed or implied in this or other Company
statements will not be realized.  Furthermore, investors are cautioned that
these statements involve risks and uncertainties, many of which are beyond the
Company's control, which could cause results to differ materially from the
forward-looking statements.
    Investors are cautioned not to place undue reliance on any forward-looking
statements contained herein, which speak only as of the date hereof.  The
Company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.

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