ITEM 7.2                          George L. Schueppert (708) 572-7257



FOR IMMEDIATE RELEASE                                   IND  367
                                                             MARCH 31, 1995


     CBI Industries, Inc. announced it has sold $55,000,000 of
7.48% Cumulative Preferred Stock, Series D at a public price of
$100.00 per share.  Net proceeds from the sale will be used to
reduce outstanding commercial paper borrowings and indebtedness
under the Company's three-year extendible revolving credit facility
which was used primarily to fund the Company's capital investment
program.  The offering was underwritten by Lehman Brothers and
Merrill Lynch & Co.  A copy of the prospectus may be obtained from
either Lehman Brothers or Merrill Lynch. 



                       ****************************


     CBI Industries has subsidiaries operating in the industrial
gas industry, in the construction of metal plate structures and
other contracting services, in oil blending and storage, and in
other investments.