PR Newswire

JERSEY CITY, N.J. — Block Drug Company today announced the sale of three of its worldwide household product businesses to HPD Laboratories, Inc., a newly formed company which will do business as Global Household Brands. The brands included in the sale are 2000 Flushes® Toilet Bowl Cleaners, X-14® Hard Surface & Toilet Bowl Cleaners and Carpet Fresh® Rug & Room Deodorizers. The Lava® soap brand and the Company's household products business in Brazil were not included. Financial terms were not disclosed.

Commenting on the divestiture, James A. Block, Chairman of the Board said, "The sale of these household product businesses is part of our continuing effort to focus our resources on our mainstream businesses in consumer oral hygiene products, proprietary over-the-counter medicines and professional dental products. The brands sold are strong consumer franchises, which no longer mesh with the Company's long-term strategic direction."

"We are extremely excited about the businesses and the talented executives added to our team," said William E. Mooar, Chairman and CEO of HPD Laboratories, Inc. "We believe the global opportunities for these brands are significant, and have already taken steps to create excitement both domestically and abroad," he said.

Global Household Brands, a marketer of specialty household products, will continue to be located in Northern New Jersey and operate the 150,000 square foot household products plant in Memphis, TN.

Block Drug Company, Inc. is a worldwide marketer and manufacturer of denture care products, oral health care products, and consumer over-the- counter medicines. Among the Company's brands are the Sensodyne® line of desensitizing toothpastes; the Polident® line of denture cleansers; Phazyme® anti-gas; Beano® dietary supplements; Balmex® diaper rash ointments; Nytol® sleep aids; and Lava® hand soaps.

CONTACT: Dean Siegal, Vice President, Corporate Communications, of Block Drug Company, 201-434-3000, Ext. 1514; or William E. Mooar, CEO of Global Household Brands, 201-434-3600

© 1998 PR Newswire