EXHIBIT 99
UNION CARBIDE CORPORATION
PRESS RELEASE
CONTACT: Tomm F. Sprick
(203) 794-6992
UNION CARBIDE ANTICIPATES 4TH QUARTER LOSS
DANBURY, Conn., Jan. 18 -- Union Carbide Corporation (UCC) today
reported, based on preliminary results, that losses for the fourth quarter of
2000 will be about $0.70 per share, including non-recurring charges of $0.17
per share related to the company's UOP partnership. For the full year, the
company anticipates earnings of about $1.20 per share.
UCC Chairman and CEO William H. Joyce said that margins and earnings
were adversely affected by high raw material and energy costs, which rose to
unprecedented levels by the end of the quarter, while average selling prices
were lower than in the prior quarter. The negative impact on earnings was
primarily in the North American-based Basic Chemicals and Polymers
businesses. Dr. Joyce also noted that sales revenues declined somewhat from
the prior quarter, while sales volumes were virtually unchanged.
Union Carbide is scheduled to release a detailed earnings report on
January 29th.
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