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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,  Chief Financial
5430 LBJ Freeway, Suite 1700                      Officer and Treasurer
Dallas, Texas 75240-2697                        (972) 233-1700


                        VALHI DECLARES QUARTERLY DIVIDEND



         DALLAS,  TEXAS . . . August  31,  2004 . . . 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
September  30,  2004 to  stockholders  of  record at the  close of  business  on
September 13, 2004.

         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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