KRONOS WORLDWIDE, INC. Contact: Gregory M. Swalwell
Three Lincoln Centre Vice President, Finance and Chief
5430 LBJ Freeway, Suite 1700 Financial Officer
Dallas, Texas 75240-2697 (972) 233-1700
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News Release
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KRONOS WORLDWIDE, INC. ANNOUNCES COMMENCEMENT OF EXCHANGE OFFER FOR (euro)400
MILLION OF SENIOR SECURED NOTES OF ITS KRONOS INTERNATIONAL, INC. SUBSIDIARY
DALLAS, TX - June 26, 2006 - Kronos Worldwide, Inc. (NYSE: KRO) today announced
that its wholly-owned subsidiary, Kronos International, Inc., commenced its
offer to holders of (euro)400 million aggregate principal amount of its 6 1/2%
Senior Secured Notes due 2013 issued on April 11, 2006 to exchange such notes
for a like principal amount of notes that have been registered under the
Securities Act of 1933, as amended. Kronos International, Inc. conducts Kronos
Worldwide's titanium dioxide pigment operations in Europe.
The exchange offer is scheduled to expire on July 24, 2006, at 12:00 midnight,
New York City time, unless further extended by Kronos International. The Bank of
New York in London has been appointed as the exchange agent for the exchange
offer. Requests for assistance or documents should be directed to the Bank of
New York at 011 44(207) 964 6513 or 011 44(207) 964 7235.
The statements in this release relating to matters that are not historical facts
are forward-looking statements that represent management's beliefs and
assumptions based on currently available information. Forward-looking statements
can be identified by the use of words such as "will," "anticipates," "expects,"
or comparable terminology or by discussions of strategy or trends. Although we
believe that the expectations reflected in such forward-looking statements are
reasonable, it cannot give any assurances that these expectations will prove to
be correct. Such statements by their nature involve risks and uncertainties,
including, but not limited to, global economic and political conditions,
financial market conditions, changes in foreign currency exchange rates,
operating interruptions (including, but not limited to, labor disputes, leaks,
fires, explosions, unscheduled downtime, transportation interruptions, war and
terrorist activities), and other risks and uncertainties detailed in our
Securities and Exchange Commission filings. Should one or more of these risks
materialize (or the consequences of such a development worsen), or should the
underlying assumptions prove incorrect, actual results could differ materially
from those forecasted or expected. We disclaim any intention or obligation to
update publicly or revise such statements, whether as a result of new
information, future events or otherwise.
Kronos Worldwide, Inc. is a major international producer of titanium dioxide
pigments.
This news release does not constitute an offer to sell or the solicitation of
any offer to buy any securities.