The growing
automotive market in China is one of the primary drivers that has led Solutia
to expand its Vydyne presence in the region and invest capital to increase its
global compounds production capacity.03 per share in the quarter consisted of severance
and exit costs associated primarily with previously announced closures of
manufacturing facilities.3 million, or $2.8 million in the fourth
quarter of 2005 , and increased 3 percent compared to the strong fourth quarter
of 2004. 123 (revised 2004), "Accounting for Stock-
Based Compensation" (SFAS 123R), which will reduce 2006 reported earnings per
share compared to prior periods.m.0

Restructuring and impairment charges 3.7 (2.5

Basic earnings per share
Continuing operations $0.48 $0.12 0 .6

Total current assets 1,572.6

Shareholders' equity 1,567.2) (0.1 $496.48 $26.49

Year Ended Year Ended
December 31, 2005 December 31, 2004
Income Income Income Income
Before After Basic Before After Basic
Tax Tax EPS Tax Tax EPS

Earnings from continuing
operations $274.63

Adjustments:
Restructuring and
impairment charges 22.4 68.

detailled acted

"Performing the entire nylon production process,
starting with the most basic raw materials, yields a very consistent and high
quality product," says Dennis Godwin, global automotive market development
manager, Nylon Plastics and Polymers.1 million, or
$2. Specialty Chemicals segment operating
income of $45.
Specialty Chemicals segment revenues for the full year 2005 were $1.
The Consumer Specialties product line, consisting of Personal Care
Products and FIIS, reported revenues of $181.com. acquisition; the company's
ability to raise prices in an environment of increasing raw material prices;
the delay or inability to fully integrate Noveon International and obtain
anticipated synergies; conditions affecting the company 's customers, suppliers
and the industries that it serves; competitors' responses to the company's
products; changes in accounting, tax or regulatory practices or requirements;
and other factors that are set forth in the company's most recently filed
reports with the Securities and Exchange Commission.

THE LUBRIZOL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME
(In Millions Except Per Share Data)
Three Months Year
Ended December 31, Ended December 31 ,
2005 2004 2005 2004

Net sales $1,031.3 0.9 367.5 - 34.8 181.6 582 .9

Goodwill and intangible assets - net 1,543.3 $4,566.1 27.9)
Proceeds from the exercise of stock
options 38.2

Total revenues $1,032.1)
Corporate other income (expense)
- net (2.6 $0.

grouped halogenated

(OTC Bulletin Board: SOLUQ) is experiencing an increased demand in China for
its Vydyne Nylon 6,6 compounds used in automotive applications . For inquiries in China,
please contact Martin Lin (Shanghai) at (+86 21) 6386 7500 x20.39 per share
and a 2004 acquisition-related currency forward contract gain of $.
Average raw material cost for the Lubricant Additives segment increased 21
percent in the fourth quarter, compared to the fourth quarter of 2004. The combination of price and product mix increased revenues by 9
percent in the quarter, which more than offset a 5 percent decline in shipment
volume and a 1 percent decrease from unfavorable currency.76
billion, compared to $1.07 per share compared to the effective tax rate of 34.7

Provision for income taxes 18.6 52.9

Receivables 585.1

Other noncurrent liabilities 420 .2) (37. In addition,
Management and the Board evaluate results using the earnings from
continuing operations and earnings as adjusted.2) (0.3 $2.1 68.08

Gain/Loss on Sale of Discontinued
Operations, net of tax - - 0.04 0.

induced acted

NOTES TO EDITOR:
-- Vydyne is a registered trademark of Solutia Inc. Comparable
earnings from continuing operations for the fourth quarter of 2004 were $18.51 per
basic share, in the fourth quarter of 2005 compared to $33. Consolidated earnings from
continuing operations, including restructuring and impairment charges, were
$181.46 per share in 2004, as well as 2004
purchase accounting adjustments related to the Noveon International
acquisition for in-process research and development charges of $.07 per
share, adjusted earnings from continuing operations were $196.
When the company issued guidance on October 27, 2005 for full-year
adjusted earnings from continuing operations in the range of $2. Segment operating
income margins of 12 percent for 2005 were consistent with 2004, despite 22
percent higher average raw material cost. Eastern time on the investor earnings
release site of http://www. Forward-looking statements are subject to uncertainties
and factors relating to the company's operations and business environment that
are difficult to predict and may be beyond the control of the company.0 22.6 93.8 154.5
Net change in working capital (37.9
Total operating activities 362.2

Investing activities:
Capital expenditures (136.5 38.03 20.8 0.9 $0.41

The Lubrizol Corporation
Summary of Discontinued Operations
2005 Results by Quarter
(In Millions, Except Per Share Data)

Q1 Q2 Q3 Q4 Total
2005 2005 2005 2005 2005
Discontinued operations, net of tax

Operating results of discontinued
operations $1.0 $2.0 $5.12

tradeshow shipment

9 million, or $.05 per share compared
to the tax rate of 28. Excluding restructuring and impairment
charges of $.04 above the midpoint of the October range of guidance.4 7.47 $0.02 0.8

Total current liabilities 664.2 1,523.0
Payment on termination of interest
rate swaps - (2.6 83.9 $142.9 $181.67 $142.9

Basic Earnings per Share:

Operating Results of Discontinued
Operations, net of tax $0.

halogenated chemicals

Solutia is
advantaged as one of the world's few fully vertical, back-integrated nylon
producers and compounders.
Solutia . Solutions For A Better Life.21 per share.1 percent in the fourth quarter of 2005 reduced
earnings from continuing operations in the quarter by $. Cash flow from operations was $78.67 per basic share, for 2005 compared to $90.9 million were
1 percent higher than the strong fourth quarter of 2004. Lubrizol's industry -leading
technologies in additives, ingredients and compounds enhance the quality,
performance and value of customers' products, while reducing their
environmental impact.7 3,112.3 110.4) (57.8)
Payment of treasury rate lock settlement - (73.46
Write-off of acquired IPR+D - - - 34.0

Total Discontinued Operations, net
of tax $1.03 $0.

shipment chemical

Lubrizol Announces Earnings Growth and Revenues of $1 Billion for Fourth Quarter 2005

Excluding spot
business attributed to a competitor's supply disruptions, as well as shipments
that were delayed by Hurricane Rita from the third quarter to early in the
fourth quarter, segment shipment volume increased 6 percent in the quarter.
Price increases were implemented in all product lines in the fourth quarter in
response to higher raw material costs.
Revenues for the Performance Coatings product line of $141.25 per basic share, which compares to 2005
earnings adjusted for options expense of $2. Key
assumptions in the 2006 guidance include:
- Higher raw material costs
- Stock option expense of $. This challenge forced additional rounds of price
increases to recover part of our margin compression ."

Conference Call on the Web
An audio webcast of the fourth quarter earnings conference call will be
available live today at 1:00 p.9 $4,039.5 3.3) 2.4 274.9 142.01) 0.47 $0.4 1,590.9
Investments and other assets 66.0
Restructuring and impairment
charges 11.5) (5.5 23.1 3.5) 77.7 $3,112.28

Adjustments:
Restructuring and
impairment charges 3.51 $46.9 $33.1 $196.04

Basic Earnings Per Share of
Discontinued Operations, net of tax $0.

tradeshow induced

SHANGHAI, China , Solutia Inc. "Solutia also provides its own raw
materials at many stages of the production process and is therefore less
vulnerable to supply interruption. Solutia is a world leader in
performance films for laminated safety glass and after-market applications;
process development and scale-up services for pharmaceutical fine chemicals;
specialties such as water treatment chemicals, heat transfer fluids and
aviation hydraulic fluid and an integrated family of nylon products including
high -performance polymers and fibers like Vydyne Nylon 6,6 and Ascend(R) Nylon
6,6 Fiber Polymer..8
million pre-tax, or $.
Cash flow from operations was $362.2 million for 2005 compared to $328.
For the full year 2005, Lubricant Additives segment revenues of $2.5 million in the fourth quarter of 2005 increased 17 percent
from the prior year fourth quarter. FIIS
revenues decreased slightly as higher selling prices were more than offset by
lower volume. Revenues for Estane(R) thermoplastic polyurethane increased in
the quarter as a result of higher shipment volume and selling prices. TempRite(R) engineered polymers reported
record quarterly shipment volume and revenues, based on strong construction
activity, continuing high costs of competing copper, used for plumbing pipe,
and steel, used for fire sprinkler systems, and successful implementation of
selling price increases needed to recover higher raw material costs.
"We continued to make significant progress on our divestiture of non-core
businesses.
"The extraordinary cost of materials and energy creates some uncertainty
for the world economy in 2006.8 2,903.9 55.0) (72.3
Dividends paid (70.2
Cash and short-term investments at
the beginning of period 335.7

Cash and short-term investments at
the end of period $262.

4th Quarter 2005 4th Quarter 2004
Income Income Income Income
Before After Basic Before After Basic
Tax Tax EPS Tax Tax EPS

Earnings from continuing
operations $51.3 2.0 21.22 65.01) $0.

needsinfo inorganic

seven months in 2004 and
successful implementation of higher selling prices required to address
raw material and energy cost increases

- Adjusting for restructuring charges and operations that were
discontinued in the fourth quarter, 2005 EPS was four cents above the
midpoint of the outlook issued in October

CLEVELAND, The Lubrizol Corporation
(NYSE: LZ) announced that consolidated earnings from continuing operations for
the fourth quarter ended December 31, 2005 were $32.08 per share of operating results and $.05 per share for 2005 resulted in $2.11 billion in 2004 , which included seven months of
results from the acquisition of Noveon International, Inc.
The Specialty Materials product line reported fourth-quarter revenues of
$115.6 $919.2 18 .1 $19.02 0.28 $2.9 657.2

Minority interest in consolidated
companies 51.9) (62.1 (3.3) (20.7) (97.3 0.3 $34.

acted formulations

Fourth-
quarter segment operating income increased 20% for Lubricant Additives
and 17% for Specialty Chemicals, despite significantly higher raw
material and utility costs

- Excluding restructuring and impairment charges in 2005 and 2004, as well
as certain acquisition-related charges in 2004, full-year adjusted EPS
from continuing operations increased 20%, reflecting a full year of
results for Noveon International in 2005 vs. Average raw material
cost for the Specialty Chemicals segment increased 11 percent in the quarter.0 million in the fourth quarter,
for an increase of 1 percent from the fourth quarter of 2004. Personal Care
revenues increased on favorable price and product mix and strong demand for
Carbopol(R) thickeners, fixatives and conditioners, which more than offset the
decline in surfactants volume compared to the fourth quarter of 2004.9 million, for an increase of 11 percent compared to the fourth quarter
of 2004.

5 percent, which reduces 2006 earnings by
$.1 percent for
2005
- A full year of earnings for businesses with aggregate revenues of
approximately $420 million that are targeted for divestiture but have
not been classified as held for sale or discontinued operations

Commentary
Commenting on the results, James L.7 204.8 188.3

Income from continuing operations
before income taxes 51.0 26.3 90.5

Total $4,366.9 1,964.6)
Proceeds from issuance of common
shares - 470 .8) (16.4 460.5) - (34.4 $18.4) (4.0

Weighted Average Shares Outstanding 67.

induced polymers

"
Further information about Vydyne Automotive may be found at its website ,
http://www.

Q4 Earnings Detail
Excluding restructuring and impairment charges in both fourth quarters,
adjusted earnings from continuing operations were $34.04 billion, compared
to $3.41 per basic
share, in 2004, for an increase of 20 percent in earnings per share.04 per
share of gain on sales.85 to $2.
Fourth quarter segment operating income of $48.86 per basic share. Including restructuring charges of approximately $.05 to $3. The forward-looking
statements contained herein represent the company's judgment as of the date of
this release and it cautions readers not to place undue reliance on such
statements.1

Income from continuing operations 32.12 0.30 $2.68

Diluted earnings per share
Continuing operations $0.3 367.3 $93.7) (133.1) 25.9 258.9

THE LUBRIZOL CORPORATION

SEGMENT INFORMATION
(In Millions of Dollars)
Three Months Year
Ended December 31, Ended December 31,
2005 2004 2005 2004
Revenues from External Customers:
Lubricant Additives $594.1 $2,280.6
Specialty Chemicals 438.4 $4,042.9 193.9)
Interest expense - net (22.0 $32.21
Write-off of acquired IPR+D - - - 0.

detailled industrysearch

vydyneautomotive.
Discontinued operations in the quarter related to divestitures of two
businesses: the Specialty Chemicals segment's Telene (R) resins business,
which closed on February 3, 2006, and the Lubricant Additives segment's Engine
Control Systems business (ECS), which closed on December 30, 2005.
Specialty Chemicals segment revenues were $438. The volume decline
reflected the continuing effects of eliminating low-margin business earlier in
the year, as well as lower customer demand in food ingredients, migration of
the textile industry to Asia and weaker demand for rubber chemicals following
the Gulf Coast hurricanes . Following
the call, a transcript will be posted on the investor earnings release page of
the web site. As a general matter, forward-looking
statements relate to anticipated trends and expectations rather than
historical matters.9

Amortization of intangible assets 6.3 $93 .63 $1.3 1,598.2
Accounts Payable 372.4 $40.2 324.8

Corporate expenses (14.2 0.03 $0.04 $(0.

coolers solvents

48 per
basic share, including restructuring charges of $.03 per share.8 percent in the fourth quarter of 2004.22 per share in 2005 and $. Higher shipment volume drove the
increase, as stronger price and product mix were more than offset by higher
raw material and utility costs and higher STAR expenses.9
million for 2004.

Earnings Outlook
The company's 2006 earnings guidance assumes a high single -digit percent
increase in revenues and lower interest expense that will be partially offset
by higher raw material and utility costs, higher pension expense and a higher
tax rate compared to 2005 actual results.89 per basic share would have been reduced by $.15 per
basic share. These technologies include lubricant
additives for engine oils, other transportation-related fluids and industrial
lubricants , as well as fuel additives for gasoline and diesel fuel. Revenues for 2005 were $4.4 4,042.46 $0 .3
Accrued expenses and other current
liabilities 284.6)
Repayments of long-term debt (512.3 1,762.9 $920.0 $0.8 0.02 $0.00 0.08 $(0.

tradeshow solvents

0 million, or $.2
million for 2004.

Segment Results
Lubricant Additives segment revenues were $594. We plan to extend our
geographic reach, focus on product innovation and continue to pursue
complementary acquisitions.lubrizol. In June 2004, Lubrizol acquired
Noveon International, Inc.5 3.1

Other income (expense) - net (2.62
Discontinued operations (0.05
Net income per share, diluted $0.75 $1.0 568.2 59.7
Write-off of acquired in-process
research and development - 34.8)

Financing activities:
Changes in short-term debt - net (4.2) 3.8) 6.7

The Lubrizol Corporation
For the Years Ending December 31, 2005 and 2004

Reconciliation of Earnings from Continuing Operations to Earnings As
Adjusted for the Three Months Ended December 31, 2005 and 2004 and the
Years Ended December 31, 2005 and 2004

(In Millions of Dollars, Except Per Share Data)

Earnings as adjusted (Non-GAAP) is a measure of income that differs from
earnings from continuing operations measured in accordance with generally
accepted accounting principles ("GAAP").5 0.

halogenated inorganic

Our customers value that we are able to
provide a continuous source of high quality nylon products in a tight market.01 per share in the quarter consisted of fourth-
quarter operating losses from the two businesses, which more than offset the
gain on the sale of ECS.
Revenue growth was the result of 14 percent improvement in the combination of
price and product mix and 8 percent higher shipment volume, which more than
offset a 2 percent decrease from unfavorable currency.10 per share
related to previously announced closures of manufacturing facilities, the
company's earnings guidance for 2006 is in the range of $2.95 to $3.86 per basic share.
"Our successes of 2005 established considerable momentum as we enter 2006.
Product demand remains strong and our pricing initiatives are ongoing. Nevertheless, we are operating well and we are
projecting about 10 percent growth in operating results for 2006, while we
work to build our company for 2007 and beyond.com and will be archived for 30 days. Founded in 1928, Lubrizol has
approximately 7,500 employees worldwide.2 3,048.7

THE LUBRIZOL CORPORATION

CONSOLIDATED BALANCE SHEETS
(In Millions of Dollars)
December 31,
2005 2004

Assets
Cash and short-term investments $262.4 $335.8 306.1 2,989.9)
Payment of debt issuance costs (0.1 $1,998.5 $266.5 14.3 $2.9 25.0 68.

halogenated detailled

Solutia Keeps Pace With Vydyne (R) Demand in China's Automotive Market

The
effective tax rate of 36. Loss from
discontinued operations of $.4
million.
Full-year earnings from discontinued operations for Lubrizol Performance
Systems, which was divested in the third quarter of 2005, the Telene resins
business and ECS consisted of $. Most of the segment's decline in volume occurred
in Food Ingredients and Industrial Specialties (FIIS).03
to $2. This capped a year where the fundamental strength of
Lubrizol's businesses and our effective execution produced record income from
operations and record cash flow from operations . For more
information, visit http://www. The company assumes no obligations to update the statements
contained in this release.0 3,668.7 97.0 72.28 $2.2 66.3

Liabilities and Shareholders' Equity
Short-term debt and current portion
of long-term debt $7.5

Total $4,366.2 328.4)
Net proceeds from divestitures and
sales of property and equipment 30.0
Other items - net (0.6 1,114.9 79.7 $90.2 14.39
Currency forward
contract gain - - - (6.07)

Total impact of
adjustments 22.78

Earnings as adjusted (Non-
GAAP) $297.1 $2.8 $2.9 0.2 $(0.2 67.

adhesives cas

According to Martin Lin, automotive technical
account manager for Solutia Inc., "Having resins approved for radiator end
tanks that have years of proven end-use performance at one of the world's
largest automotive manufacturers has allowed us to move very quickly with
molders and Tier 1 suppliers, such as Valeo.com ) uses world-class skills in applied
chemistry to create value-added solutions for customers , whose products
improve the lives of consumers every day.3 million in the quarter.11 billion in 2004 . Combining adjusted earnings
from continuing operations of $2.4 million increased 20
percent from the same period in 2004.2 $3,108.2 92.2 342.3

Long-term debt 1,662.3) (44.0)
Restructuring and impairment
charges (3.0 13.5 0.8 0.

needsinfo detailled

Solutia.28 per basic share, including restructuring charges of
$.49
per basic share, in the fourth quarter of 2004. Results for 2004 included seven months of revenues
from the acquisition of Noveon International, Inc.6 million increased 11 percent from 2004.86 per share forms the basis for the company's 2006 earnings
guidance. Excluding restructuring charges, earnings guidance for 2006 is
in the range of $3.

This press release contains forward-looking statements within the meaning
of the federal securities laws.4 700.0) 5.5 23.0 2.9

Net decrease in cash and short-term
investments (73.8

Segment operating income:
Lubricant Additives $48.5) (23.4 $274.2 $133.0

Gain on sale of discontinued
operations - - 2.

industrysearch solvents

6 million, or $.

Q4 Revenues and Cash Flow
Consolidated revenues were $1,032.95,
it included results of the Telene resins business and ECS, which were
subsequently discontinued in the fourth quarter.28
billion increased 14 percent compared to 2004, based on 12 percent improvement
in price and product mix, 1 percent higher volume and 1 percent increase from
favorable currency.09 per share
- An effective tax rate of 35 .9 920.9 52.63
Discontinued operations (0.05
Net income per share , basic $0.0

Property and equipment - net 1,184.8) 811.9

Effect of exchange rate changes on cash (16.4 $335.0) (22 .4 0.2 14.3 $(0.02 $0.

cas cosmos

63 per basic share, for 2004.89 per basic share, in 2005, compared to $133. Segment operating
income for Specialty Chemicals was $193.
"As we expected, the limited availability of some raw materials,
aggravated by hurricane-related supply disruptions, kept our costs high
throughout the quarter.
Overall, our businesses are operating at high sustained utilization rates and
are controlling our fixed costs and working capital very well.9

Total revenues 1,032.9 2,327.3 20.6 18.6

Discontinued operations - net of tax (0.9 $189.67 $1.30 $2.3 $4,566.0)
Proceeds from the issuance of long -
term debt 235.0) (72. Management believes that both earnings
from continuing operations and earnings as adjusted for exclusion of these
special charges and credits assist the investor in understanding the
results of operations of The Lubrizol Corporation.8 $0.3 0.3 2.5 43.

cosmos distilling

Price increases
announced in October were implemented later in the fourth quarter. Had the company reported stock option
expense in 2005 in accordance with SFAS 123R, adjusted earnings from
continuing operations of $2.03 per share
- Incremental global pension expense of approximately $. We are working
as one company with an emphasis on shareholder returns. Uncertainties and
risk factors that could affect the future performance of the company and cause
results to differ from the forward-looking statements in this press release
include , but are not limited to, the increased leverage resulting from the
financing of the Noveon International , Inc.8

Cost of sales 799.1

Research, testing and development
expenses 54.7 25.0

Write-off of acquired in-process
research and development - 0.01) 0.8

Total liabilities 2,748.0 53.3

THE LUBRIZOL CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Millions of Dollars)
Year
Ended December 31,
2005 2004
Cash provided by (used for):

Operating activities:
Net income $189.2)
Acquisitions - (958.8 15.9
Specialty Chemicals 45.9

Total segment operating income 93.2 0.89 $208.1 3.

acted rfqs

com , or by contacting John Jurecko (USA) at
+1-800-865-5508 or vydyneautomotive@solutia.
Earnings for the fourth quarter of 2005 increased compared to the prior-
year fourth quarter primarily as a result of improvements in the combination
of price and product mix, as well as higher shipment volume, which more than
offset higher raw material and utility costs and a higher tax rate.94 per basic
share, which was $. Full -year 2005 Lubricant Additives segment operating
income of $266. Most of FIIS is targeted for
divestiture . Hambrick, Chairman, President and
Chief Executive Officer, said: "We delivered a fourth-quarter revenue record
and strong growth in segment operating income, thanks to solid demand,
continuing successes with necessary price increases and good management of our
controllable expenses.

About Lubrizol
The Lubrizol Corporation (NYSE: LZ) is an innovative specialty chemical
company that produces and supplies technologies that improve the quality and
performance of our customers ' products in the global transportation,
industrial and consumer markets.0 billion.2

Selling and administrative expenses 93.7 297.1 873.5) 1.79 $1.4 1,317.2)
Total investing activities (106.8 424.9) (11.0 $26.03 20.6 $1.6) $5.3 $2.

inorganic cosmos

As the global automotive industry becomes hypercompetitive along the
cost-quality frontier , automotive manufacturers are seeking closer working
relationships with their suppliers to help meet challenging goals.com .9 million in the fourth quarter of 2005,
and increased 12 percent compared to fourth-quarter 2004 revenues of $920.6 million for 2005 compared to $83. The costs of FIIS raw materials , including toluene, increased
significantly in the fourth quarter. The discontinued Telene business was reported previously in this
product line. We completed three divestitures and we continue to make progress
on the remaining two businesses that have been identified for divestiture. In
addition , Lubrizol makes ingredients and additives for personal care products
and pharmaceuticals; specialty materials, including plastics technology;
performance coatings in the form of specialty resins and additives; and
additives for the food and beverage industry.
With headquarters in Wickliffe , Ohio, The Lubrizol Corporation owns and
operates manufacturing facilities in 20 countries, as well as sales and
technical offices around the world.lubrizol. Such
uncertainties and factors may cause actual results to differ materially from
those expressed or implied by forward-looking statements .9

Royalties and other revenues 1.3 6.3

Interest expense - net 22.9

Net income $32.67

Weighted average common shares
outstanding 68.6 67.8) (1,088 .4
Total financing activities (312.2
Write-off of acquired in-process
research and development - (0.21

Earnings as adjusted (Non-GAAP ) $54.22 37.5) $8.

rfqs chemicals

"
By applying its nylon application expertise, the Vydyne Automotive team
has been able to reduce development time at a leading Chinese automotive
supplier of radiator end tanks.

Corporate Profile
Solutia ( http://www. - Revenues of $1 billion set a fourth-quarter record and increased 12%, as
a result of volume gains and improved pricing and product mix

- Record revenues of $4 billion for 2005 increased 30%, including the
full-year impact of the Noveon acquisition completed in June 2004

- Fourth-quarter EPS from continuing operations increased 71%. The
restructuring charges of $.8 million, or $2.89 per basic share with results from these
discontinued operations of $.1 million in the fourth
quarter of 2005, and were 20 percent higher than the fourth quarter of 2004. Higher selling
prices were partially offset by the ongoing effects of volume decline from the
early 2005 loss of low-margin business and the continuing decline in North
American and European textile manufacturing, as well as unfavorable currency. By
application, volume growth was strongest for films used in medical, industrial
and paint protection products, and for extruded plastics, including medical
intravenous tubes and catheters.2 37.9

Total costs and expenses 957.1 8.4)
Other items - net 19.8 1,743. Earnings as adjusted (Non-GAAP)
is income from continuing operations per our consolidated results,
adjusted for exclusion of restructuring and impairment charges, the write-
off of acquired in-process research and development (IPR+D) and the
currency forward contract gain.00

Total impact of adjustments 3.9 0.

industrysearch adhesives

Moving quickly helps our
partners in China obtain new business and save on development cost..

Consolidated 2005 Results
For the full year 2005, consolidated revenues were $4.6 million,
or $1. STAR
(selling, testing, administrative and research) expenses increased 4 percent
in the quarter, as testing accelerated in preparation for the 2006
introductions of new diesel engine additives in North America and new
passenger car motor oil additives in Europe . Additional
price increases were announced in December, primarily to address post-
hurricane increases in raw material and utility costs, and are being
implemented in the first quarter of 2006 . In addition, the company will begin
to report stock option expense in 2006 in accordance with Statement of
Financial Accounting Standards No. Therefore, 2005 earnings adjusted for options
expense of $2.8

Inventories 586.7

Other current assets 138.9 $8.5
Adjustments to reconcile net income
to cash provided by operating activities:
Depreciation and amortization 179.2) (1,193.6 $240.3)
Income from continuing operations
before income taxes $51.01) $0.