EXHIBIT 99.1
[GENCORP LOGO]

NEWS RELEASE


Investor Contacts:    Yasmin Seyal
                      Senior Vice President, Finance
                      GenCorp, Inc.
                      916-351-8585

Press Contacts:       Linda Beech Cutler
                      Vice President, Corporate Communications
                      GenCorp, Inc.
                      916-351-8650

                         GENCORP ANNOUNCES $100 MILLION
                           CONVERTIBLE DEBT OFFERING

SACRAMENTO, CA. -- APRIL 1, 2002 -- GenCorp, Inc. (NYSE: GY) today announced its
intention to issue $100 million aggregate principal amount of Convertible
Subordinated Notes due 2007 in a private placement pursuant to Rule 144A under
the Securities Act of 1933 (the "Act"). The Company also intends to grant the
initial purchasers an option to purchase up to an additional $25 million of
Notes.

The Company intends to use the net proceeds of this offering to repay
outstanding indebtedness under its senior credit facilities, to finance working
capital requirements and for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any security. The Notes have not been registered under the Act
or applicable state securities laws and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements.

The statements in this press release regarding the timing of the proposed
private placement and its terms are forward-looking statements that involve
risks and uncertainties including, but not limited to, market conditions and the
price and market for the securities to be offered.