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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 . . . October 28,  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 December
31, 2004 to  stockholders  of record at the close of  business  on December  13,
2004.

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

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