CONTACT: Janine Orf
                                                    Director, Investor Relations
                                                                  (314) 279-5443

                                                   Michele Katz/Connie Bienfait/
                                                                  Elric Martinez
                                                         Morgen-Walke Associates
                                                               Press: Tammy Rose
                                                                  (212) 850-5600


                           MEMC ANNOUNCES $1.9 MILLION
                         CUMULATIVE ACCOUNTING REVISION

   Revision relates to change in functional currency of two non-consolidated
                     joint ventures, as previously disclosed


St. Peters,  MO, March 2, 1999 -- MEMC Electronic  Materials,  Inc. (NYSE:  WFR)
today announced that in connection with the SEC's formerly  announced  review of
the  Company's  change in  functional  currency,  the  Company  has  revised its
financial statements resulting in an additional  cumulative loss of $1.9 million
recorded  as equity in income  (loss)  of joint  ventures.  Previously  reported
operating  income and cash flows are not  affected  by this  revision.  The $1.9
million loss is a cumulative adjustment related to the six-year period from 1993
to 1998.

The Company previously announced its intention to proceed with a rights offering
to all common stockholders.  The Company filed a registration statement with the
Securities and Exchange Commission relating to the rights offering.  The Company
believes  it will have  adequate  cash and  available  credit  until the  rights
offering is closed.

As previously disclosed the SEC staff has reviewed MEMC's registration statement
and has issued comments  concerning certain legal and accounting issues. The SEC
staff questioned the timing of the change in functional  currency for accounting
purposes used by the Company's two  non-consolidated  Asian joint  ventures.  In
connection  with this  review,  the Company  has agreed to revise its  financial
statements  for  1993  through  1998 to  retroactively  reflect  the  change  in
functional  currency from the inception of these joint ventures.  The cumulative
net effect on results for this  six-year  period is an  additional  loss of $1.9
million recorded as equity in income (loss) of joint ventures.

The rights and the underlying common stock may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes effective. This
news release  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 or
other  jurisdiction in which such offer,  solicitation or sale would be unlawful
prior to  registration  or  qualification  under the securities laws of any such
state  or  other  jurisdiction.   In  any  state  or  other  jurisdiction  where
securities,  blue sky or other laws require the rights  offering to be made by a
licensed  broker or  dealer,  the rights  offering  will be deemed to be made on
behalf of the Company by the dealer managers or one or more  registered  brokers
or dealers  licensed under the laws of such  jurisdiction.  The rights  offering
will be made only by means of a prospectus.

MEMC is the second largest  producer of silicon wafers in the world. The silicon
wafer is the fundamental  building block of semiconductors,  which, in turn, are
found  in  virtually  all   electronics   applications,   including   computers,
telecommunications  equipment,   automobiles,   consumer  electronics  products,
industrial  automation and control systems,  and analytical and defense systems.
Headquartered in St. Peters, MO, MEMC operates manufacturing facilities directly
or through joint ventures in Italy, Japan, Malaysia, South Korea, Taiwan and the
United States. To learn more about MEMC visit its web site at www.memc.com.


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