Exhibit 99.1


Cohesant Technologies Announces Semi-Annual Dividend

    INDIANAPOLIS--(BUSINESS WIRE)--Nov. 16, 2004--Cohesant
Technologies Inc. (Nasdaq:COHT) today announced that its Board of
Directors approved its semi-annual dividend payment of $0.13 which
will be paid on December 10, 2004 to shareholders of record on
November 30, 2004.
    Cohesant Technologies, Inc., based in Indianapolis, Indiana,
designs, develops, and manufactures specialized dispense equipment and
specialty coating products through its two subsidiaries: Glas-Craft,
Inc. and Raven Lining Systems, Inc. Glas-Craft and, to a limited
extent, Raven Lining Systems, manufactures dispensing equipment for
applying plural component materials such as polyesters, polyurethanes,
polyureas, and epoxies. Raven Lining Systems, Inc., manufacturers and
sells the Raven and AquataPoxy line of high-performance coating
systems. These systems provide corrosion protection and structural
renewal when coating and rehabilitating all types of infrastructure in
water, wastewater and industrial markets.
    Certain statements contained in this report that are not
historical facts are forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those set forth in the forward-looking
statement. These risks and uncertainties include, but are not limited
to, a slow-down in domestic and international markets for plural
component dispensing systems and a reduction in growth of markets for
the Company's epoxy coating systems.

    CONTACT: Cohesant Technologies Inc.
             Morris H. Wheeler, 317-871-7611