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                                  PRESS RELEASE

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FOR IMMEDIATE RELEASE:                CONTACT:
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VALHI, INC.                           Bobby D. O'Brien
Three Lincoln Centre                  Vice President and Chief Financial Officer
5430 LBJ Freeway, Suite 1700          (972) 233-1700
Dallas, Texas 75240-2697
(972) 233-1700


                VALHI ANNOUNCES COMPLETION OF MERGER WITH TREMONT

         DALLAS,  TEXAS . . . February  7, 2003 . . . Valhi,  Inc.  (NYSE:  VHI)
announced today that it has completed the merger with Tremont Corporation (NYSE:
TRE) and  that  Tremont  is now a  wholly-owned  subsidiary  of  Valhi.  Tremont
stockholders  approved the merger agreement at a special  stockholders'  meeting
held earlier today. Tremont stockholders will receive 3.4 shares of Valhi common
stock  for each  share  of  Tremont  common  stock  they  own plus  cash for any
fractional shares that they would otherwise receive in the merger. Computershare
Trust Company of New York serves as the exchange agent for this transaction. The
exchange agent will provide Tremont  stockholders with  instructions  concerning
how to exchange their Tremont stock  certificates for the merger  consideration.
Tremont's stock is no longer traded on the New York Stock Exchange.

         Valhi,  Inc. is engaged in the  titanium  dioxide  pigments,  component
products (ergonomic computer support systems,  precision ball bearing slides and
security products), titanium metals products and waste management industries.