<ARTICLE> 5 <LEGEND> W.R. GRACE & CO. FINANCIAL DATA SCHEDULE PERIOD ENDING JUNE 30, 1997 </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 43,200 <SECURITIES> 0 <RECEIVABLES> 635,100<F1> <ALLOWANCES> 0 <INVENTORY> 376,000 <CURRENT-ASSETS> 1,259,400<F2> <PP&E> 3,293,500 <DEPRECIATION> 1,478,900 <TOTAL-ASSETS> 4,312,300<F2> <CURRENT-LIABILITIES> 1,144,900 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 800 <OTHER-SE> 421,100 <TOTAL-LIABILITY-AND-EQUITY> 4,312,300 <SALES> 1,627,600 <TOTAL-REVENUES> 1,651,200 <CGS> 993,200 <TOTAL-COSTS> 993,200 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 39,400 <INCOME-PRETAX> 263,400<F3> <INCOME-TAX> 99,600 <INCOME-CONTINUING> 163,800<F3> <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 163,800 <EPS-PRIMARY> 2.15 <EPS-DILUTED> 2.15 <FN> <F1>Amount shown is net of allowances. <F2>Included within current assets and total assets are net assets of discontinued operations of $56,800. <F3>Includes a pretax gain of $103,100 ($63,000 after-tax) on the sale of Grace's specialty polymer business, and a pretax provision of $12,400 ($8,000 after-tax) relating to restructuring costs. </FN>