PHOENIX -- EaglePicher Inc. and certain affiliates filed their plan of reorganization and related proposed disclosure statement in their Chapter 11 cases on January 25, 2006. The plan, which is being proposed jointly by EaglePicher and the Official Committee of Unsecured Creditors appointed in the Chapter 11 cases, provides for the transfer of substantially all of the assets of the EaglePicher entities to newly formed companies.

EaglePicher, its parent EaglePicher Holdings, Inc. and certain of their U.S. subsidiaries filed Chapter 11 petitions in the U.S. Bankruptcy Court in the Southern District of Ohio in Cincinnati on April 11, 2005.

Consideration for the transferred assets will be paid to each debtor in amounts equal to the value of the assets transferred by that debtor. Under the plan, unsecured creditors of each debtor will receive their pro rata share of that value available for unsecured creditors after satisfaction of all secured and priority claims. Holders of the Company's 9.75 percent Senior Notes will receive their distributions in the form of all of the common stock in the new holding company. All other general unsecured creditors of each debtor will receive their distributions at their option either in the form of cash payments over time or a single discounted cash payment. The plan has the full support of EaglePicher's Official Committee of Unsecured Creditors.

"With the filing of EaglePicher's plan of reorganization and our previously announced financing, which is convertible into financing for the new companies upon completion of the reorganization, all the elements are in place to enable EaglePicher to complete its restructuring within the next few months," said Stuart Gleichenhaus, interim CEO and Chief Restructuring Officer. "We look forward to completing our reorganization and continuing to serve our customers across the many industries in which we operate."

For further information or to view the plan of reorganization and proposed disclosure statement, visit: www.eaglepicher.com .

_______________________________________

Click here to view the rest of today's headlines.