Exhibit 99.1

OWENS-ILLINOIS ANNOUNCES COMMON STOCK OFFERING

     Toledo, Ohio, May 13, 1997 -- Owens-Illinois, Inc., (NYSE:  OI) today 
announced the public offering of 14,750,000 shares of common stock at a price
of $28.50 per share pursuant to a prospectus supplement under the company's 
$2.5 billion shelf registration of April 18, 1997.  Managing underwriters for
the common stock offering are Salomon Brothers Inc; Goldman, Sachs & Co.; 
Lehman Brothers; Merrill Lynch & Co.; Morgan Stanley & Co. Incorporated; and 
PaineWebber Incorporated.

     Proceeds from the common stock offering, combined with proceeds from 
proposed senior note offerings and additional borrowings under the company's 
amended bank credit facility, will be used to refinance outstanding public 
indebtedness.  The refinancing plan is designed to reduce interest expense 
and long term debt, extend long term debt maturities, reduce the company's 
debt-to-equity ratio, and improve its financial flexibility.

     Final prospectuses relating to the common stock offering may be obtained 
by contacting:

                    Salomon Brothers Inc
                    Prospectus Department
                    7 World Trade Center
                    New York, NY 10048
                    telephone:  (212) 783-7000
                    fax:  (212) 783-2009

                               * * *

     This communication shall not constitute an offer to sell or the 
solicitation of an offer to buy nor shall there be any sale of these 
securities in any State in which such offer, solicitation, or sale would be 
unlawful prior to registration or qualification under the securities laws of 
any such State.

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CONTACT:  Owens-Illinois, John Hoff, 419-247-1203












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