<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FIRST
QUARTER 1998 10-Q OF INTERNATIONAL SPECIALTY PRODUCTS INC. AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000874578
<NAME> INTERNATIONAL SPECIALTY PRODUCTS INC. 
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-29-1998
<CASH>                                          15,084
<SECURITIES>                                   189,703
<RECEIVABLES>                                   83,390
<ALLOWANCES>                                         0
<INVENTORY>                                    115,224
<CURRENT-ASSETS>                               462,260
<PP&E>                                         517,982
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,435,707
<CURRENT-LIABILITIES>                          352,345
<BONDS>                                         91,585
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           999
<OTHER-SE>                                     804,587
<TOTAL-LIABILITY-AND-EQUITY>                 1,435,707
<SALES>                                        200,703
<TOTAL-REVENUES>                               200,703
<CGS>                                          119,177
<TOTAL-COSTS>                                  119,177
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,176
<INCOME-PRETAX>                                 40,890
<INCOME-TAX>                                    14,710
<INCOME-CONTINUING>                             26,180
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    26,180
<EPS-PRIMARY>                                      .27
<EPS-DILUTED>                                      .27