PRESS RELEASE

Detrex Corporation Reports a Profit for the 2nd Quarter of 2004

Southfield, Michigan – July 26, 2004 - Detrex Corporation (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 net income of $242,460 for the second quarter of 2004.

Second quarter net sales increased to $18.8 million from $15.4 million in the comparable period last year. On a year-to-date basis, sales were $36.6 million, an increase of $6.2 million, or 20.4%, compared to the prior year.

In the second quarter, the Company generated pre-tax income from continuing operations of $481,987 and net income of $242,460, or $0.15 per share, compared to a pre-tax loss from continuing operations of $14,936 and a net loss of $39,750, or $0.03 per share, in the same period last year.

On a year-to-date basis, pre-tax income from continuing operations was $824,142, an improvement of nearly $1 million compared to the pre-tax loss from continuing operations of $154,626 in 2003. Year-to-date net income is $428,789, or $0.27 per share.

The 20% growth in sales is largely the result of solid performance by the operating units as conditions improved in the markets served by the Company. Harvel generated volume growth with both new and existing customers as activity increased in the industrial and commercial construction markets. Elco’s markets also firmed during the quarter and in combination with solid execution of product and marketing programs generated an 18% revenue improvement over the prior quarter and prior year second quarter.


Pre-tax earnings from continuing operations for the second quarter were $496,923 higher than the same quarter of last year and $978,766 higher on a year-to-date basis. The primary components of this improvement were volume driven earnings increases at Harvel and Elco as well as improved sales mix at Elco. Reductions in corporate expenses were largely offset by increases in accruals for pension expense during the first half; these accruals are expected to decline in the second half.

Commenting on the Company’s results, President and CEO Tom Mark said, “We are pleased to see that the operating performance is improving as projects and initiatives are beginning to yield results and the general economy gathers strength. We will build on this momentum to invest and grow Elco and Harvel. In the meantime, we are also working on the program to reduce our legacy liabilities and are making steady progress.”

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.