36 per diluted share , for the fourth quarter of 2004. Contributing to the sales increase in the fourth quarter of 2005
were pricing improvements of $16.2 million to $160.9 million to $30.
Contributing to the sales increase were pricing improvements of $98.9 million versus $7. Laminates gained several new customers
with significant volume potential for 2006, while improving operating margins. Lead times and extreme pricing
volatility in the ISO industry, which contributed to weaker volumes and
profits throughout most of the year, improved throughout the quarter and are
anticipated to stabilize going into 2006.

Earnings Conference Call - OMNOVA Solutions has scheduled its Earnings
Conference Call for Wednesday, January 18, 2006, at 11:00 a.9 $452.0 $810.1 $745.9 1. These items include for the 4th
quarter of 2005 asset impairment charges of $2.1 million for restructuring and severance.8 million, asset
impairment charges of $2.8
Net earnings of joint ventures
less cash dividends (.8 $194.7

Costs and Expenses
Cost of goods sold 160.1 175.5

Property, plant and equipment, net 154.2 million and 40.9) (256.

The Company increased its capital spending during the quarter to $1.6 16.8 $ 15.

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Our purchasing organization and key
strategic suppliers responded aggressively to the situation, and we were able
to meet all of our customers' needs," said Kevin McMullen, OMNOVA Solutions'
Chairman and Chief Executive Officer.3 million of lower sales related to the Company's
decision to close a wallcovering distribution facility and $20.3 million versus 2004, driven by $82.5 million favorable net LIFO
(last in, first out) inventory reserve adjustment .6 million, or 15. Those items for 2005 included charges of $5.04 as compared to a loss per diluted share of $0. Of the $22.0% for the same period
last year, but still below the Company's targeted reinvestment levels. The segment's operating profit for the fourth
quarter of 2005 and 2004 also included items which management excludes when
evaluating the results of this segment.
The Company 's Asian joint venture operations were profitable in the fourth
quarter of 2005 compared to an operating loss in the fourth quarter of 2004. The live
audio event will be hosted by OMNOVA Solutions' Chairman and Chief Executive
Officer, Kevin McMullen.m.1 242.0
Total Sales $205 .

(b)Segment operating profit for the full year of 2005 and 2004 was
impacted by a number of items which are discussed earlier in this press
release. Adjusted EBITDA should not
be construed as an indicator of the Company's operating performance or
liquidity and should not be considered in isolation from or as a substitute
for net income (loss), cash flows from operations or cash flow data which are
all prepared in accordance with GAAP.4) (.2 .5 $51.9
Fixed asset impairment 2.5 .1 812.61)

OMNOVA SOLUTIONS INC.3 3.3
Investments in joint ventures 16 .5 7.3 7.2 million for the
corresponding quarter in the prior year. The Company also manufactures and sells a wide range
of isobutylene products.7 million or
approximately 33 %.

The Company generated EBITDA of $14.7
---------- - ---------

Income before income tax
provision (benefit) and
cumulative effect of
accounting change 8.

butadiene dyestuffs

1 million, or $0.7 million in 2004. Also included in the year
are certain items that management excludes when evaluating the results of the
Company's segments .9 million from a legal settlement.3 million versus 2004. Segment operating profit was
$3.1% compared to $32.
Strong sales growth in thermoplastic polyolefin (TPO) products was offset by
weaker volumes in polyvinyl chloride (PVC) membrane systems, polyisocyanurate
(ISO) insulation and EPDM membranes .1) (5. These items include for the full
year of 2005 restructuring and severance charges of $5.


Reconciliation of net income (loss) to Adjusted EBITDA

This earnings release also includes Adjusted EBITDA which is a non-GAAP
financial measure as defined by the Securities and Exchange Commission.3 22.5
Selling, general and
administrative 30.1
Indefinite lived trademark
impairment - 3.7
Equity (earnings) loss
in affiliates, net (.5

Operating costs for the September 2004
quarter included a $0.6 million and
$4.2 million for the three months ended September 30, 2003, respectively.

Liquidity and Capital Resources

The Company's liquidity improved during the quarter as a result of the
positive EBITDA performance and the resulting free cash flow generated.3

Income tax provision (benefit) 3.1 million
income tax benefit - 2.1 (0.2 $ 267.

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1%, or $11 . Those items for the fourth quarter of 2005 included fixed
asset impairment charges of $2. The
operating momentum was broad-based, as all three business units exceeded their
results versus the same quarter last year in a very challenging environment.
International sales increased significantly for the quarter, up 53% or $2.7 million for the fourth quarter of 2005 as compared to a loss of $8. EST on January 18, 2006, and ending at 11:59 p.7

Performance Chemicals $10.8
Restructuring and severance - - 5.4
Work stoppage - - 1.6 1.7) - (. Forward-looking statements address the Company 's business, results of
operations, financial condition, significant accounting policies and
management judgments, among other things, and include statements based on
current expectations, estimates, forecasts and projections.
OMNOVA Solutions Inc. is a technology-based company with 2005 sales of
$810 million and a current workforce of 1,800 employees worldwide.8 577.00 par value;
15 million shares authorized; none outstanding - -
Common stock - $0.10 par value; 135 million
shares authorized; 42.2 310.1 $432.58 per share for the Company's
first fiscal quarter ended September 30, 2004.

TPI is a producer of quality C4 chemical products widely used as chemical
building blocks for synthetic rubber, nylon carpets, adhesives, catalysts
and additives used in high-performance polymers. Although TPI believes that its expectations are based upon
reasonable assumptions, it can give no assurance that its expectations will
materialize.

5
Depreciation and amortization 3.4
Inventories 34.9
========= =========

Current Liabilities (excluding
revolver and note payable):
Accounts payable $ 48.5
Accrued expenses 13.0

Net Increase (Decrease) in Cash
and Cash Equivalents $ (0.

thickeners synthesia

1%

- Segment operating profit of $14.3 million in 2004.
During the quarter , the Company took a non-cash charge of $60.1 million increase in the liability, approximately
$20 . Included in the fourth quarter of 2005 results were a favorable
net LIFO inventory reserve adjustment of $2. Excluding fourth
quarter 2004 sales of $3.0 million in the fourth quarter of 2004. Operating profit was $0.0 115.0 $33.8 $4.9 million and a gain on the sale of a brand of $0.9
Amortization of deferred
financing costs .4 1.4
Adjusted EBITDA $14.4
Income (Loss) Before Income Taxes 3.1) (24 .7)
Income tax (benefit) (.6 million and 42. This compares to a net loss
of $1.1 million for the three months ended
September 30, 2004 compared to revenues of $162.9 million to $12.1
---------- ----------
Operating income 11.5
---------- ----------

Income before reorganization
items, income tax provision
(benefit) and cumulative
effect of accounting change 9.1 48.5 104.

waterbased zschimmer

Gross profit increased to $45. Total Company employment year-to-date has declined 10%, or over 200
positions, to approximately 1,800 employees .8 million on the sale of a
wallcovering brand, and a gain of $0.5 million to $21. Operating profit improved $24.9 million in the fourth quarter
of 2004, driven by 11.omnova. To listen to the telephone replay, callers should dial:
(USA) 800-475-6701 or (Int'l) 320-365-3844.3 (1.7)
Corporate expense (5.7 $13.8) - (1. There are many
risks and uncertainties that could cause actual results or outcomes to differ
materially from those described in the forward -looking statements, some of
which are beyond the Company's control, including inherent economic risks ,
changes in prevailing governmental policies and regulatory actions, and
litigation risks inherent in the Company's business.1 5.7) .4) (.1 $432.

Revenues and EBITDA generated from MTBE sales were $50.txpetrochem.1 $ 162.4 3.58 NM
Earnings per share,
fully diluted $ 0. In this regard GAAP refers to generally accepted accounting
principles in the United States.2 155.0
Note Payable - Financed
Insurance Premiums 1.8

thickeners ultrafine

10 per diluted share, versus a
net loss of $14. Cost of goods sold for the fourth quarter of
2005 increased $4.3 million of higher raw material costs which were
partially offset by lower manufacturing and warranty expenses, and a favorable
net LIFO (last in, first out) inventory reserve adjustment of $4.9 million in 2004. We delivered nearly a 9% increase in sales and more
than $24 million improvement in operating profit for full year 2005 versus
2004.6%, to $810. Accordingly, a pension liability of
$5.8% as compared to 4.com). Adjusted EBITDA is not a measure of financial
performance under GAAP.3) (.1 $745.5

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current Liabilities
Current portion of long-term debt $.5

Long-term debt 176.3 4. TPI also manufactures
fuel products used in the formulation of cleaner burning gasoline.8 $ (1.7
Cumulative effect of accounting change - 2.

nitrocellulose topmaking

0 million during the same period a
year ago.3 million versus the same quarter last
year, driven by $11.6 million, or 14. "The improved operating profit and cash
flow results were driven by aggressive cost reductions , increased pricing and
new products. Selling, general and
administrative costs decreased $20 .7 million for a work stoppage, $2.3 million
and the recognition of an intangible pension asset of $4. Focused cost reduction and LEAN SixSigma initiatives have
led to further reductions in spending levels for SG+A and manufacturing as a
percentage of sales.8 million. For the fourth quarter of 2005 those
items included a favorable legal settlement of $0.1
million in the fourth quarter of 2004. A telephone replay will also be available beginning at 2:30
p. Management believes that this information
is useful for providing the investor with an understanding of the Company's
business and operating performance.1) .9(b) 7.9) (12.5 million for restructuring
and severance.9 - 3.1) (2.7
Prepaid expenses and other 3.5
Postretirement benefits other than pensions 45.

Texas Petrochemicals Inc. Reports First Quarter Fiscal 2005 Results

(collectively referred to as the "Company"). Upon the emergence from
bankruptcy on May 6, 2004, TPI owns a direct 1% ownership interest in the
Partnership and is its sole general partner. The revolving credit
facility provides $50 million of availability based on eligible accounts
receivable and inventory. Among the significant factors that could affect whether such
expectations will be realized are the Company's reliance on a relatively
small number of customers for a majority of its revenues; the recent
substantial upward movement and potential volatility in raw material and
energy costs; the possibility of additional or more stringent environmental
regulation imposing unforeseen compliance costs on the Company; and the
Company's dependence on a single operating facility, which is subject to
all of the hazards associated with chemical manufacturing and the related
storage and transportation of raw materials, products and wastes.7
---------- ----------
Operating costs 20.9 0.5 4.1 7.

waterbased nitrocellulose

(NYSE: OMN) today reported net income of $4.
Net sales increased 6.2 million for the same period a year ago, due to lower
average debt partially offset by higher short-term average borrowing rates. During the first quarter of 2006, average
short-term borrowing spreads under the Company's revolving credit facility
will decline 75 basis points due to improved Adjusted EBITDA performance for
full year 2005.6
million in favorable warranty expense , and a $4. Gross profit increased to
$170.2 million in 2004.6 million was recognized at November 30, 2005. The
segment's operating margin was 8.4 million during the fourth
quarter of 2005, an increase of $0. Included in the fourth quarter 2005
results were higher raw material costs of $1 .

Building Products - Net sales of the Company's single-ply commercial
roofing products were $30.2 257.7 (8.8

(a)Segment operating profit for the 4th quarter of 2005 and 2004 was
impacted by a number of items which are discussed earlier in this press
release.9 million for trademark
impairment and $0. Visit OMNOVA Solutions on
the internet at http://www.6 142 .6
Other (income) expense, net (.0 2.2
Additional contributed capital 312.3 million for the three months ended
September 30, 2004 compared to $14. The increase is
attributable the availability of liquidity to pursue capital initiatives
which were on hold during the restructuring process.2 0.0

Reorganization costs 0.2 5.9
--------- ---------
Total current liabilities 61.2) $ 17.

superabsorbent textan

Our leverage ratio of debt-to-Adjusted EBITDA
consistently improved during 2005 and at year end was 3.6 million of higher raw material
costs which were partially offset by lower costs in manufacturing, $4.8 million for
restructuring and severance, $1.5 million
for fixed asset impairments, a gain of $0.0 million for the fourth quarter
of 2005 as compared to $4.5 million as
compared to the fourth quarter of 2004 due to aggressive working capital
management .2 million from the wallcovering distribution facility
which was closed in the first quarter of 2005 , Decorative Products' sales
increased 6.
In commercial wallcovering, margins improved in North America versus last
year.
For the full year 2005, sales of coated fabrics and laminates to marine (up
27%), transportation (up 21%) and kitchen and bath (up 19%) were able to
offset significant volume declines in residential furniture, consumer
electronics and ready-to-assemble furniture. Sales of private label TPO membrane
increased significantly in the quarter. It is anticipated to be approximately one hour in
length and may be accessed by the public from the Company's website
(http://www.

Non-GAAP and Other Financial Measures
Reconciliation of segment sales and operating profit to consolidated net
sales and profit (loss) before income taxes

Management reviews the information below in assessing the performance of
the business segments and in making decisions regarding the allocation of
resources to the business segments.


Three Months Year
Ended Ended
November 30, November 30,
Dollars in millions 2005 2004 2005 2004

Performance Chemicals $113.7 $100. Management excludes certain of these items when evaluating the
results of the Company's ongoing business.8 million,
and for the 4th quarter of 2004 charges totaling $3.

OMNOVA SOLUTIONS INC.0 $810.6 37.4
Restructuring and severance - - 5.2 770.3) (.

Condensed Consolidated Balance Sheets

November 30, November 30 ,
2005 2004
(Dollars in millions,
except per share amounts)
Assets: (Unaudited )
Current Assets
Cash and cash equivalents $9.4 9.3 3.9

Shareholders' (Deficit) Equity
Preference stock - $1.6) 50.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for
the first quarter were $14. A chart
summarizing the Company's legal structure is shown below for clarification:

The accompanying consolidated financial information for the three months
ended September 30, 2003 include the accounts of the Partnership and its
wholly owned subsidiaries for comparative purposes , as TPI was not formed
until May 6, 2004. Butadiene
manufacturing capacity is approximately 1 .2 million for the three months ended
September 30, 2003, an increase of $0. EBITDA performance was
positively impacted by a $1.6
million for the three months ended September 30, 2004 and $43.4
Depreciation and amortization 3.6 4.5 $ 42.3
Other current liabilities - 0.8 18.0

Shareholders' Equity 98.

shangyu zschimmer

7 million , or a loss of $0.36 per diluted share
for the fourth quarter of 2004

- Full year net sales improved 8.9 million partially offset by $3.5 million for restructuring and severance.7 million in 2004 due to
higher short-term average borrowing rates.1 million, net of the
Company's unfunded pension benefit restoration plan.0
million related to trademark impairment and restructuring and severance. EST. Webcast attendees will be in a listen-only mode.8 $372.8 $194.1) $(2 .1) $(24.9
million relating to trademark impairment and $0.1 $(14.2 20.1 5.7 -
Calender line restructuring
1.7 $26.4)

Basic and Diluted Earnings (Loss)
Per Share $.0
Prepaid pension - 57.5
Accrued payroll and personal property taxes 16. Revenues increased primarily as a result of higher
per-unit sales prices driven by the increase in commodity prices as compared to
the prior year. The Company anticipates further reductions in working capital in
the future as additional credit terms are established. For
additional information about these and other important factors that could
affect these forward-looking statements, please refer to the Plan of
Reorganization and Disclosure Statement, as supplemented, which are
available on the Company 's website.7 33.0 NM
Weighted average share,
fully diluted (in millions ) 16.

narad zschimmer

8 million for the
fourth quarter of 2005 as compared to $194.7 million in 2005 versus $26.4 million, or 8.1 million versus $745.3 million as compared to $168.

Performance Chemicals - Net sales during the fourth quarter of 2005
increased 12.9
million versus a year ago.9 million , a $0.8)
Building Product . Set forth below is a reconciliation of this non-GAAP financial
measure to the most directly comparable GAAP financial measure

Three Months Year
Ended Ended
November 30, November 30,
Dollars in millions, except
per share data 2005 2004 2005 2004

Net income (loss) $4. The Company disclaims any
obligation , other than imposed by law, to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.5 121.8 (15.04) $(.0
Accounts receivable, net 111.5 10. ("TPI") and its wholly owned
subsidiaries , Texas Petrochemicals LLC and Texas Petrochemicals LP (the
"Partnership"), Texas Butylene Chemical Corporation and TP Capital Corp. Texas Petrochemicals LLC, a
wholly owned subsidiary of TPI, owns the remaining 99% ownership interest
in the Partnership and is the limited partner of the Partnership .4 million for the three
months ended September 30, 2003, an increase of $53. Additionally, revenues increased by
approximately $10 million during the September 2004 quarter as a result of
a change in accounting method for a major crude C4 supplier from processing
volumes to purchase and sales volumes. The Company has
implemented several price increases for its specialty isobutylene products ,
which will take effect in future periods.0 million and $4.

Net working capital increased $2.2 5.7
Outstanding Debt:
Revolving Line of Credit 12.9

Deferred Income Tax Liability 44.

zschimmer resins

1 million, or $0.8 million, to $205.5 million a year ago, while full year Adjusted EBITDA grew
to $51.
Raw material availability and cost, as well as customer manufacturing
activity, were disrupted by the extensive hurricane damage incurred in the
Gulf Coast region during the quarter.4 times.4 million
against shareholders' equity related primarily to the elimination of its
prepaid pension asset.7 million and a receivable write-
off of $0. There were no similar charges in the fourth
quarter of 2004.8 $(15. Adjusted EBITDA is not intended to
represent and should not be considered more meaningful than, or as an
alternative to, measures of operating performance as determined in accordance
with GAAP.2 21.7
Taxes (.7 $. Forward-looking statements may generally be identified by
the use of forward -looking terms such as "may," "should," "projects,"
"forecasts," "seeks," "believes," "expects," "anticipates," "estimates,"
"intends," "plans," "targets," "likely," "will," "would," "could," or similar
terms. OMNOVA is
an innovator of emulsion polymers, specialty chemicals, decorative and
functional surfaces, and single-ply roofing systems for a variety of
commercial, industrial and residential end uses.5 - 2.2 21.1 2.4 .2) 3.5 million during the comparable quarter ended September 30, 2003. The Company
is also the leading producer and supplier of butene-1 and isobutylene
products in North America. The majority of crude C4 contracts are formula based,
providing for more stable profitability irrespective of absolute C4 product
sales price levels. Dehydro unit turnarounds are
typically done every 16-18 months in order to perform normal maintenance
and repair as well as to replace the catalyst. The
dramatic rise in these costs during the quarter outpaced the Company's
ability to pass through sales prices increases.8 million during the quarter.5 million in the prior year quarter.4
Cost of goods sold 184. Pursuant to the requirements of
Regulation G, TPI has provided a reconciliation of the non-GAAP financial
measure (EBITDA) to the most directly comparable GAAP financial measure
(net income/loss).

Three Months Ended
September 30,
2004 2003
----------- ---------- -

Net income (loss) $ 5.7 3.2 $ 0.

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Selling , general and administrative costs
decreased $6.
Interest expense decreased to $5.3 million from the end of fiscal 2004, and the lowest in the Company's
history including proceeds from a receivables securitization program utilized
from May 2000 until May 2003.5 million to $121.0% of
net sales , versus $142.2
million to $31. Productivity improved by approximately 5% year-to-date
versus the same period last year. Carpet volumes increased in the quarter while
specialty chemical volumes increased in the high single digits on new product
introductions.

Decorative Products - Net sales were $61.4 61.8) (11. Adjusted EBITDA is not calculated in the same manner
by all companies and accordingly is not necessarily comparable to similarly
titled measures of other companies and may not be an appropriate measure for
comparing performance relative to other companies . These statements are intended to qualify for the protections
afforded forward-looking statements under the Private Securities Litigation
Reform Act of 1995.3) (.10 $(.36) $(.1 14.7
Pension Liabilities 7. Significant progress was made
during the quarter in returning our credit terms to normal levels following
the completion of the restructuring and the settlement of the pre-petition
claims. The Company plans to
pursue additional opportunities to invest capital during the remainder of
the fiscal year on operational and efficiency improvements in the plant.9
SG&A expense 2.8 $ (1.7
Other Long-Term Assets 6.

montell superabsorbent

We are especially pleased with our SG+A cost reductions , as
well as improved inventory and accounts receivable management which resulted
in our lowest debt level ever.3% to 5.8
Building Products 30.0 $4.7(b)
Interest expense (5.
Adjusted EBITDA is calculated in accordance with the definition of adjusted
net earnings from operations as set forth in the Company's senior secured
revolving credit facility dated May 28, 2003, as subsequently amended, and
excludes charges for interest, taxes, depreciation, amortization ,
restructuring and severance, work stoppage, goodwill and trademark
impairments, amortization of deferred financing costs, net earnings of joint
ventures less cash dividends, gains or losses on asset sales, and non-cash
charge for 401(k) company match.3 (.8) $(24.6
Inventories 41.1 $.6 48.7 million
shares outstanding as of November 2005 and 2004,
respectively 4.1 million .7 million reduction in operating costs and SG&A
during the September 2004 quarter. For more information about TPI products and
services visit the company online at www. Many of
these factors are entirely outside of the Company's control.1 8.5 4.5)
Plus:
Provisions (benefit ) for income taxes 3.2
=========== ===========


EBITDA is presented in the earnings release because it has particular
relevance in certain debt covenants and related compliance ratios and
because management believes it is of interest to its investors and lenders.6 50.

This category lists manufacturers of chemical intermediates, and fiber, textile and nonwovens processing and finishing resins, chemicals, adhesives , compounds and additives only.

waterbased zschimmer

5 million.9% of net sales, in the fourth
quarter of 2005 versus $37 .9 million from a legal settlement,
and for the fourth quarter of 2004 those items included charges totaling $4.10 is our third
consecutive quarter of positive EPS and year-over-year improvement.7 million in 2004.4 million, the elimination of the prepaid pension asset of $57. Segment operating profit was $10. As
compared to last year, raw material costs were up $4. The segment's
fourth quarter of fiscal 2005 operating profit also included an asset
impairment charge of $0.9 million which management excludes when evaluating
the results of this segment. Also, workforce reductions during the last twelve months totaled over
180 positions, or a decline of over 14%.9
Decorative Products 61.7)
Profit (Loss) Before
Income Taxes $3. Some important risks ,
uncertainties and factors that could cause the Company's actual results or
outcomes to differ materially from those expressed in or implied by its
forward-looking statements include, but are not limited to, the following:
general economic trends affecting OMNOVA Solutions' end-use markets; prices
and availability of raw materials including styrene, butadiene, polyvinyl
chloride, acrylics and textiles; ability to increase pricing to offset raw
material cost increases; adverse litigation judgment and absence of or
inadequacy of insurance coverage for such judgment; prolonged work stoppage
resulting from labor disputes with unionized workforce; acts of war or
terrorism, natural disasters or other acts of God; ability to develop
successful new products; customer and/or competitor consolidation; customer
ability to compete against increased foreign competition; operational issues
at the Company 's facilities; availability of financing to fund operations at
anticipated rates and terms; ability to successfully implement productivity
enhancement and cost reduction initiatives; governmental and regulatory
policies; rapid inflation in health care costs and assumptions used in
determining health care cost estimates; risks associated with foreign
operations including fluctuations in exchange rates of foreign currencies; the
Company's strategic alliance and acquisition activities; assumptions used in
determining pension plan expense and funding, such as return on assets and
discount rates and changes in funding regulations; compliance with extensive
environmental, health and safety laws and regulations; and substantial debt
and leverage and the ability to service that debt.6 22.9) .5 166.1 135.7 million shares as of November
2005 and 2004, respectively (10.8
Total Liabilities and Shareholders' Equity $355. The
company has manufacturing facilities in the industrial corridor adjacent to
the Houston Ship Channel and operates product terminals in Baytown, Texas
and Lake Charles, Louisiana.com.0
---------- ----------
Gross profit 31.7 3.7 78.3

Cash Flows provided by
(Used In) Investing
Activities (1.

superabsorbent zschimmer

0 million last year

- Net income of $4.5 million, or 19.8 million on the sale
of a wallcovering brand, and a gain of $0. Fourth quarter earnings per diluted share of $0.7 million of
lower volumes. Cost of goods sold for 2005 were $639. Consolidated loss per
diluted share was $0.61 in
2004.8 million and $182. The pension plan's assets were $199.0 million for the fourth quarter of 2004.6 million, while the fourth quarter of 2004 included charges totaling $4. The Company streamlined its design and custom operations and increased
volume 15%, driven by gains in the hospitality market and new distribution.
Market share gains in marine and transportation applications drove year-over-
year growth in coated fabrics sales.6 -
Goodwill and trademark
impairments - 3.3 1.2 20.1 $(14.3 181.9
Retained deficit (257.2)
Treasury stock at cost; 1.

Disclosure Regarding Forward-Looking Statements

This news release or any of its attachments may include forward-looking
statements.3)

Cumulative effect of accounting
change, net of $1.4 NM


RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in millions)
(Unaudited )

This earnings release contains non-GAAP financial measures.3)
Interest expense 1.7
Reorganization costs 0.3 $ 14.4
Accounts receivable 67.8
------- -- ---------
Total current assets 118.

tannins auxiliaries

- Net sales increased 6.
"Strong results in the fourth quarter contributed to a much-improved year
for OMNOVA Solutions."

Results for the Full Year Ending November 30, 2005 - Net sales increased
$64.1 million, or 19 .7 million versus $100.
During the quarter, volumes in paper were negatively impacted by the
permanent closure of a customer's plant as a result of the Gulf Coast
hurricanes.9
million for the fourth quarter of 2004. EST on January 25,
2006. Management excludes certain of these items when evaluating the
results of the Company's ongoing business.9
million, a gain on the sale of a brand of $0. Management believes that presenting this information is useful to
investors because it is commonly used as an analytical indicator to evaluate
performance, allocate resources and measure leverage capacity and debt service
ability.6 22.3


This earnings release contains statements concerning trends and other
forward-looking information affecting or relating to the Company and its
industries .com.

Condensed Consolidated Statements of Operations
(Dollars in Millions, Except Per Share Data)

Three Months Year
Ended Ended
November 30, November 30,
2005 2004 2005 2004

Net Sales $205.1 639.9 - 3.6
Total Current Assets 167.4
Total Assets $355.1
Deferred income taxes 1.

Business Description

The Company's assets include the largest manufacturing facility of C4
chemical and hydrocarbon products in North America.

The Company is primarily a contract processor of C4 products. Isobutylene products are generally sold
under term contracts and into spot markets based on a mix of market
pricing, matrix pricing and formulaic pricing alternatives .4 129.4

Fixed operating costs 15.40 NM

Weighted average shares,
basic (in millions) 10.6 39.2
Other current assets 16.4
--------- ---------
Total Assets $ 279.

zschimmer montell

10 per diluted
share, for the fourth quarter of 2005, compared to a net loss of $14.2 million in
lower sales related to the Company's decision to close a wallcovering
distribution facility in Massachusetts during the first quarter of 2005 and
$1. Also included in the quarter are
certain items that management excludes when evaluating the results of the
Company's segments .
Total debt at the end of the fourth quarter of 2005 was $176.4 million
partially offset by $13 . 87 "Employers' Accounting for Pensions" requires that
the Company recognize a liability that is at least equal to the unfunded
accumulated benefit obligation and eliminate any prepaid pension asset that
the Company had previously recognized. However, the Company expects to replace this volume in early 2006
with GenCryl(R) Platinum Pt(TM) latex business with a new customer, while
extended trialing activity for this high strength latex binder continues at
several key paper accounts.0) (a) 31.8) $(24.0
Total Current Liabilities 121.3 million compared to $14.2 billion pounds per year
comprising approximately 23% of North American based supply. Sales volumes increased slightly during the quarter as a
result of the increase in production rates in July 2004 following a
one-month planned outage in June 2004. The reduction in operating and SG &A
expenses was offset during the quarter by higher raw material and energy
costs, which negatively impacted our margins for certain products.8 million during the quarter primarily due
to the dramatic increase in commodity prices, which requires more cash to
fund inventories and accounts receivable .0 60.5)

Net Cash Provided By (Used In)
Financing Activities (5 .

montell ultrafine

3% of net sales, in the fourth
quarter of 2004 due to the elimination of expenses from the closed
wallcovering distribution facility, lower employee headcount and improved cost
control.1 million for the fourth quarter of 2005
as compared to $5.
Results from 2004 included charges of $3.9 million related to trademark
impairment and $0. At November 30, 2005, the accumulated pension benefit
obligation exceeded the pension plan assets by $5.6 million.
The accumulated benefit obligation for the Company's defined pension plan
was $204.2 million at November 30, 2005. Inventories declined by over $5.0% from the fourth quarter of 2004.5
million versus the fourth quarter of 2004 due to aggressive LEAN SixSigma
projects and the Company's decision to focus on marketing fewer wallcovering
brands .8 million and work stoppage
charges of $1.3)
Depreciation and amortization 5.3 156 .4)
Accumulated other comprehensive income (61. No such turnaround occurred
in the prior year comparable period.5

Interest expense 1. For purposes
of Regulation G, a non-GAAP financial measure is a numerical measure of a
registrant's historical or future financial performance, financial position
or cash flows that excludes amounts, or is subject to adjustments that
have the effect of excluding amounts, that are included in the most
directly comparable measure calculated and presented in accordance with
GAAP in the statement of income, balance sheet, or statement of cash flows
(or equivalent statements) of the registrant; or includes amounts, or is
subject to adjustments that have the effect of including amounts, that are
excluded from the most directly comparable measure so calculated and
presented.

polyolefin auxiliaries

OMNOVA Solutions Reports Fourth Quarter 2005 Earnings Per Diluted Share of $0.10

4 million, down
$5.2 million versus $20. If the
accumulated pension benefit obligation exceeds the fair value of the pension
plan assets, SFAS No. The result was a non-cash
charge to accumulated other comprehensive loss within shareholders ' equity of
$60.9 million, approximately $1.6
million of increased pricing, and a favorable net LIFO inventory reserve
adjustment of $1.3 million
for the fourth quarter of 2005, as compared to an operating loss of $1.m.m. The Access Code is 813068.5 million, a gain on a legal
settlement of $0.7 million and for the full year 2004 charges totaling $3.4)
Interest 5.1 5.1) -
Non-cash charge for 401(k)
company match .4 .3 22.8
Interest expense 5.0 49.0
Accrued interest 9.5
Employee benefit obligations 6.4 -
Other liabilities 16.0 12. (OTC: TXPI) ("TPI")
announced net income of $5. The crude C4
feedstocks are primarily sourced from North American ethylene plants and
refineries. TPI disclaims any intention or
obligation to update publicly or revise such statements, whether as a
result of new information, future events or otherwise.


Summary Consolidated Balance Sheet
(Dollars in millions)
(Unaudited)

Sept 30, 2004 June 30, 2004
--------- ---------

Current Assets:
Cash and cash equivalents $ 0.9 -
--- ------ ---------
Total Debt 74.9 46.0 92.2 $ 267.9
========= =========


Summary Consolidated Statement of Cash Flows
(Dollars in Millions)
(Unaudited)

Three Months Ended
September 30,
2004 2003
--------- ---------

Net Cash Provided by Operating
Activities $ 6.

synthesia topmaking

7
million, or a loss of $0.5 million, a gain of $0.0
million related to trademark impairment, restructuring and severance.8 million, an increase
of $62.1% of net sales in 2004 due to the
elimination of expenses from the closed wallcovering distribution facility,
lower employee headcount and improved cost control. Sales for nonwovens and adhesive/tape applications increased
nearly 30% versus last year on the strength of new products and pricing.8 million
gain from the sale of a wallcovering brand and an asset impairment charge of
$1.1 115.2) (21.2) (20.1) (3.7) -
Gains or losses on asset sales (.OMNOVA.5 -
Depreciation and amortization 5.1 5.0 209.7) $(1.9 104.6
Deferred income taxes 1.8
Trademarks and other intangible assets, net 12.7 96.0) (11.3
Total Shareholders' (Deficit) Equity (12. The process to manufacture isobutylene involves
the dehydrogenation of isobutane.

Raw Materials TPC Finished Products End Uses
------------- --------------------- --------

Crude C4s Butadiene Tires, latex, nylon
Butadiene Butene-1 Polyethylene
(plastic bags, bottles )
Butene-1 Raffinate-3 Gasoline blending
Butene-2 Alkylate Gasoline blending
Isobutylenes MTBE Gasoline blending

Isobutane Isobutylene concentrate Lubricant additives
Polyisobutylene Fuel and lubricant
additives
Methanol High purity isobutylene Butyl rubber, resins,
adhesives
Diisobutylene Detergents
MTBE Gasoline blending


Results of Operations
(Click here for details)
The Company generated revenues of $216.1
---------- ----------

Net income (loss) $ 5.8

Property, Plant +
Equipment , net 154.5 7.9
7.25% Senior Secured
Convertible Notes 60.3
--------- ---------
Total Liabilities and
Shareholders' Equity $ 279.

nitrocellulose zschimmer

0 million, versus a loss of
$6.2 million

FAIRLAWN, Ohio, OMNOVA Solutions Inc.7
million versus $0. Interest expense
increased $0.6 million during the
quarter due to cost increases in butadiene, acrylics and most secondary raw
materials. The operating profit improvement was
driven by lower warranty expense partially offset by higher costs for raw
materials and purchased products.7 32.8 $13.5
Decorative Products 3.0
Total Segment Operating
Profit (loss) 14.5 million, gain on a legal settlement of $0.3) (.4
202.5
Other assets 4.7 million charge for the planned maintenance
turnaround of one of the dehydro units.
The outstanding balance on the revolving credit facility was reduced from
$18.1
----------- ------- ----

EBITDA $ 14.

sulfonate topmaking

4 million in lower volumes. Adjusted EBITDA for the fourth quarter of 2005 was $14.7 million at November 30, 2005 and 2004,
respectively .0 million was driven by a decline in the discount rate from 6.4%
used for the pension liability calculation , due to lower long-term interest
rates.7% to $113.6% higher average unit selling price and a 1.6 million related to the closure of a paper customer. Inventories declined $3. Following
the live webcast, OMNOVA will archive the call on its website until noon EST,
January 25, 2006.9) (2.7) $(1.9 .6 - 1.5 1.7) .9 $15.5 15.5 8.4 million shares
and 1.8
million from $0.

CONSOLIDATED STATEMENT OF OPERATIONS
(Dollars in millions, except per share data)
(Unaudited )

Three Months Ended
September 30,
2004 2003
---------- ----------
Revenues $ 216.2 15 .8 25.1 (0.5)
========== ==========


Earnings per share,
basic $ 0.8) (0.2) 3 .

styrene dyestuffs

6%, operating profit increased
$24.5 million in the fourth quarter of 2005 as
compared to $37. An explanation of how
the Company defines Adjusted EBITDA and a reconciliation of Adjusted EBITDA to
net income is provided in the Non-GAAP and Other Financial Measures section of
this earnings release.1% increase
in volumes. Additionally, Performance Chemicals successfully completed a SAP
enterprise business system implementation, which is resulting in lower SG+A
costs and improved information for managing the business.7 million during the fourth quarter of 2005, a
decrease of 4.8) (6.0(a) (6.7)

Capital expenditures $4.2 $11.3)
Net Income (Loss ) $4.2
Accounts payable 80.3
Other current liabilities 8.4 million
shares issued as of November 2005 and 2004,
respectively; 41.
Texas Petrochemicals Inc.8 million or $0.

The Company

Organization

The accompanying consolidated financial information as of and for the three
months ended September 30, 2004 and as of June 30, 2004 includes the
accounts of Texas Petrochemicals Inc. Additionally,
the Company manufactures MTBE in its operations by reacting isobutylene
with methanol.0

Other income 0.

narad tannins

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