Enters Into Long-Term Supply Agreement

PARSIPPANY, N.J., Aug. 16, 2004 – GenTek Inc. (OTC Bulletin Board: GETI) today announced results for the second quarter ended June 30, 2004. GenTek’s results reflect the classification of its KRONE communications operating unit as a discontinued operation due to the sale of that business on May 18, 2004. In addition, GenTek has applied fresh-start accounting in conjunction with its emergence from bankruptcy protection on Nov. 10, 2003, causing the results from the prior-year period to not be comparable to current period results.

For the second quarter of 2004, GenTek had revenues totaling $201.6 million and operating profit of $1.0 million. Also for the quarter, including earnings from discontinued operations, net income totaled $185.1 million, or $18.49 per diluted share.

For the six months ending June 30, 2004, GenTek had revenues totaling $394.5 million and operating profit of $23.1 million. Also for the six-month period, net income was $199.9 million, or $19.98 per diluted share.

Pro Forma Results
To facilitate the comparison of 2004 results against prior periods, GenTek has presented prior-period results on a pro forma basis, as if the company had emerged from bankruptcy at the beginning of such period. In addition, 2004 and 2003 pro forma results are presented as if the company had completed its sale of the KRONE communications business at the beginning of such periods. These pro forma results are based upon certain important assumptions that are material to the presentation of such results. In particular, the pro forma results assume a normalized effective tax rate, which may ultimately be materially different from GenTek’s future effective tax rate. While management believes that this presentation of pro forma results may be useful, we caution investors not to rely solely on such results in making investment decisions.

Pro forma results for the second quarter and first six months of 2004, as well as for the prior-year periods, are summarized in the attached Schedule 2 and all pro forma adjustments are detailed in Schedules 3 through 6.

For the second quarter of 2004, GenTek posted revenues of $201.6 million compared with $205.0 million in the corresponding quarter of 2003. For the second quarter of 2004, GenTek recorded operating profit of $1.0 million (after restructuring and impairment charges of $6.1 million) versus a pro forma operating profit of $7.7 million in the second quarter of 2003. The company recorded a pro forma net loss of $0.1 million, or $0.01 per diluted share, in the second quarter compared with pro forma net income of $5.5 million, or $0.55 per diluted share, for the same period last year.

Adjusted Pro Forma Results
For further comparison against prior and future periods, GenTek has also presented 2004 second-quarter results, as well as results for the comparable prior-year periods, on an adjusted pro forma basis. The adjusted pro forma results reflect removing the impact of any restructuring, impairment, reorganization and certain one-time items. These adjustments are detailed on Schedules 7 and 8.

In addition, the company has presented adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) as a measure of operating results. Adjusted EBITDA reflects removing the impact of any restructuring, impairment, reorganization, income from discontinued operations and certain one-time items. GenTek has presented adjusted EBITDA to enhance the reader’s understanding of operating results, as it is a measure commonly used to value businesses by investors and lenders. Adjusted EBITDA is a non-GAAP (Generally Accepted Accounting Principles) measure, and as such, a reconciliation of adjusted EBITDA to pro forma net income is provided in Schedule 9.

During the second quarter of 2004, adjusted EBITDA was $17.8 million compared with $22.0 million in the second quarter of 2003. The majority of the decrease in adjusted EBITDA, or approximately $3.4 million, is attributable to the effect of foreign currency gains and losses. On an adjusted pro forma basis, the company’s second-quarter net income totaled $5.0 million, or $0.50 per diluted share, compared with $5.5 million, or $0.55 per diluted share, for the same period in 2003.

"We are quite pleased with our second quarter results, particularly in light of the severe raw material price pressure experienced year-over-year," said Richard R. Russell, GenTek’s president and CEO. "Maintaining the prior-year’s adjusted EBITDA level, excluding the effect of foreign exchange, was accomplished through improved pass-through of raw material costs and by taking aggressive action to control other costs. Our continued efforts to improve cash flow have become even more critical in light of our expectation that raw material pricing across all of our businesses will remain challenging for the foreseeable future," Russell noted. "Our initiative to improve trade payable credit terms are partially reflected in the higher June 30th payables figure, with additional improvements expected to contribute favorably to cash flow in the second half of the year."

"GenTek’s strong balance sheet provides us with significant financial flexibility going forward, including the ability to pursue additional strategic growth opportunities within our core businesses," Russell said. "The integration of our most recent strategic acquisition, Whirlpool’s Reynosa wire-harness business, is proceeding smoothly and according to our planned timetable."

About GenTek Inc.

GenTek Inc. is a manufacturer of industrial components and performance chemicals. Additional information about the company is available on GenTek’s Web site at www.gentek-global.com.

Non-GAAP Financial Measures

This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release are reconciliations of the differences between these non-GAAP financial measures and the most directly comparable financial measures calculated in accordance with GAAP.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements include, but are not limited to, statements relating to our ability to complete the proposed transaction with ADC involving the KRONE communications business; the expected closing date of the transaction and the satisfaction of the closing conditions; expected proceeds from the transaction; and future balance sheet improvements. Although GenTek believes the expectations contained in such forward-looking statements are reasonable, it can give no assurances that such expectations will prove correct. Other important factors that could cause actual results to differ from these expectations include, among others, the impact of our reorganization under Chapter 11; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, particularly if investment returns on pension assets are lower than assumed; the extent to which we undertake dispositions and new acquisitions or enter into strategic joint ventures or partnerships and their implementation; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; our ability to attract, retain and compensate key executives and employees; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; the impact of "fresh start" accounting on our financial statements; future technological advances which may affect our existing product lines; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.

Media Contact:
Gia L. Oei, 603-929-2489
GOei@gentek-global.com

Investor Contact:
Mark Connor, 973-515-1989
MConnor@gentek-global.com