1 Exhibit 99.01 DRAVO News DRAVO CORPORATION Contact: Richard E. Redlinger 11 Stanwix Street Pittsburgh, PA 15222 412-995-5554 10/5/98 DRAVO CORPORATION HART-SCOTT-RODINO WAITING PERIOD EXPIRES Pittsburgh, October 5 -- Dravo Corporation (NYSE:DRV) today announced that the Hart-Scott-Rodino waiting period with respect to the outstanding tender offer for shares of Dravo common stock and the proposed merger between Dravo Corporation and Carmeuse Lime, Inc. had expired. Consummation of the offer is subject to a number of other conditions, including the condition that at least a majority of Dravo's outstanding common shares, on a fully-diluted basis, be tendered into the offer, and the receipt of other regulatory approvals in addition to the expiration of the Hart-Scott-Rodino waiting period. # # # [DRAVO LOGO]