Detrex Corporation Amends Stockholder Rights Plan

Southfield, Michigan – March 23, 2004 - Detrex Corporation (OTCBB: DTRX), a diversified manufacturer of PVC and CPVC pipe, duct and shapes and specialty chemicals including lubricant additives and high purity hydrochloric acid, today announced that its Board of Directors has amended the company Shareholder Rights Plan designed to protect its shareholders from unsolicited coercive takeover proposals. The plan previously provided that preferred stock purchase rights would be exercisable only when a person or group acquires beneficial ownership of 15% or more of the Company’s outstanding common stock. The amendment raises this beneficial ownership threshold to 30%, which the Company believes may stimulate trading in the stock.

Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “1995 Act”). The words “believe,” “expect,” “anticipate,” “estimate,” “guidance,” “target” and similar expressions identify forward-looking statements. The Company cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected in the forward-looking statements. Certain risks and uncertainties are identified from time to time in the Company’s reports. Some factors that could cause results to differ materially from those projected in the forward-looking statements include: market conditions, environmental remediation costs, pension expense and funding requirements, liquidation value of assets, and marketability of real estate and the market value and future liquidity of Detrex stock. The Company claims the protection of the safe harbor for forward-looking statements contained in the 1995 Act.