Albemarle Updates 2013 Business Outlook

                   Albemarle Updates 2013 Business Outlook

PR Newswire

BATON ROUGE, La., Dec. 18, 2013

BATON ROUGE, La., Dec. 18, 2013 /PRNewswire/ --Albemarle Corporation (NYSE:
ALB) today announced that the company expects to report earnings for the
fourth quarter of 2013 in the range of $83 million to $88 million in net
income, or $1.02 to $1.07 per diluted share, excluding special items,
resulting in full year earnings of $4.00 to $4.05 per diluted share. This
lower guidance is due to the impact of more cautious inventory management by
customers in fluid cracking catalysts, clear completion fluids and flame
retardants, weaker than expected demand for brominated flame retardants, and
certain orders slipping into 2014. The IPC North America PCB Book-to-Bill
ratio slipping from 0.98 in September to 0.94 in October is broadly indicative
of the weakening of demand observed across most electronics end markets the
company serves.

(Logo: http://photos.prnewswire.com/prnh/20111129/MM14279LOGO)

The company also announced that it expects to incur a pre-tax special charge
of between $30 million and $35 million during the fourth quarter in connection
with a restructuring of the company's workforce from three global business
units to two and consistent with its previously announced intent to redeploy
greater resources to R&D, business development and sales to spur growth.

"We have experienced a slower than expected quarter due to weaker than
expected demand for flame retardants and more cautious working capital
management by customers across a number of our critical product lines," stated
Luke Kissam, Albemarle's president and chief executive officer. "The
underlying fundamentals of these markets, however, remain solid. With the
restructuring largely complete by year end, we expect to grow earnings in
2014, and our cash generation and strong balance sheet will allow us to
continue returning cash to shareholders via our dividends and stock repurchase
program. We look forward to providing details in January."

The company will release earnings on January 28, 2014 and hold a conference
call on January 29, 2014 at 9 a.m. EST to discuss fourth quarter financial
results and management's outlook for 2014.

About Albemarle
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading
global developer, manufacturer, and marketer of highly-engineered specialty
chemicals for consumer electronics, petroleum refining, utilities, packaging,
construction, automotive/transportation, pharmaceuticals, crop protection,
food-safety and custom chemistry services. The Company is committed to global
sustainability and is advancing its eco-practices and solutions in its three
business segments, Polymer Solutions, Catalysts and Fine Chemistry. Corporate
Responsibility Magazine selected Albemarle to its prestigious "100 Best
Corporate Citizens" list for 2010, 2011 and 2013. Albemarle employs
approximately 3,900 people and serves customers in approximately 100
countries. Albemarle regularly posts information to www.albemarle.com,
including notification of events, news, financial performance, investor
presentations and webcasts, Regulation G reconciliations, SEC filings, and
other information regarding the Company, its businesses and the markets we
serve.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Albemarle Corporation's
business that are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained
in the forward-looking statements, see "Risk Factors" in the Company's Annual
Report on Form 10-K.

SOURCE Albemarle Corporation

Website: http://www.albemarle.com
Contact: Media Contact: Ashley Mendoza, (225) 388-7137,
Ashley.Mendoza@albemarle.com; Investor Relations Contact: Lorin Crenshaw,
(225) 388-7322, Lorin.Crenshaw@albemarle.com
 
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