Exhibit 99

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private
Securities Litigation Reform Act of 1995.

Lydall, Inc. desires to take advantage of the new "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 and is filing this Form 8-K
in order to do so.  The following factors have been discussed in various prior
SEC filings, however, the Company wishes to formally outline specific risk
factors pertinent to its 1996 results as forecast by management and is thus
filing this Form 8-K.

Lydall has considered the following market conditions in determining its
forward-looking statements in general and its sales and earnings projections for
1996 specifically.  In the Company's view, significant, unforeseen changes in
the following areas could cause Lydall's actual results to differ materially
from those expressed in any forward-looking statements made by, or on behalf of,
Lydall.

 .    A Major Downturn of the U. S. Automotive Market. Although Lydall's
     dependency on the strength of the automotive market is not a one-to-one
     relationship, a significant downturn of the U. S. automotive industry would
     have a substantial impact on Lydall's results. Twenty-eight percent of
     Lydall's total sales in 1995 were to the U.S. automotive market. Lydall's
     primary automotive products are thermal barriers and heat shields employed
     both inside and outside of vehicles and filtration/thermal materials for
     pyrotechnic air-bag inflators. Most of Lydall's automotive products are
     supplied to unique, niche applications. There is no direct correlation
     between the number of Lydall parts on a vehicle and the number of units
     built, as with tires or steering wheels for instance. Slight movements in
     the number of automobiles and trucks built by U.S. OEM's have relatively
     little effect on Lydall's business; however, a major downward shift could
     prevent Lydall from achieving its projected 1996 results.

 .    A Significant Change in the Number of Clean Rooms being Built. Lydall's
     high-efficiency air filtration business is tied to the fabrication of clean
     rooms around the world. In 1995 and 1996 the demand for these air
     filtration media has been the strongest the Company's ever seen. This
     strength has been forecast by various industry reports to continue for the
     near future. Lydall relies on these forecasts, feedback from its filtration
     customers and its own market knowledge. Lydall's forward-looking statements
     and 1996 projections are based in part on the belief that the current
     strength of the clean-room

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     industry will continue for the foreseeable future; however, if a
     significant downturn in this market were to occur, it would have a negative
     impact on Lydall's results.

 .    Raw Material Pricing in the Materials Handling Business. Lydall
     manufactures materials handling slip sheets from laminated virgin kraft.
     This business is sensitive to virgin fiber costs which tend to vary. In
     1995, costs of these raw materials were extremely high, and Lydall, in
     turn, raised its prices partially accounting for higher than average growth
     in sales. In 1996, raw material costs have declined markedly, and Lydall
     has reported a decline in sales of this product line for the first quarter
     ended March 31, 1996 compared to the same quarter in 1995. Lydall's 1996
     projections to date have taken into consideration slower growth of its
     materials handling business for the year. The materials handling business
     is one area where the market pushes for price reductions that directly
     track decreases in raw materials. Any significant change in the price of
     virgin fiber could make a difference to Lydall's projected 1996 results.

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