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                                  PRESS RELEASE

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FOR IMMEDIATE RELEASE:                                     CONTACT:

VALHI, INC.                                                Bobby D. O'Brien
Three Lincoln Centre                                       Vice President
5430 LBJ Freeway, Suite 1700                               (972) 233-1700
Dallas, Texas 75240-2697



                        VALHI DECLARES QUARTERLY DIVIDEND



         DALLAS,  TEXAS . . . October 29,  2003 . . . Valhi,  Inc.  (NYSE:  VHI)
announced  today that its board of directors  has  declared a regular  quarterly
dividend of six cents ($0.06) per share on its common stock, payable on December
31, 2003 to  stockholders  of record at the close of  business  on December  12,
2003.

         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.

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