EAGLEPICHER CONSOLIDATES DIVISIONS AND NAMES NEW LEADERS

JOPLIN, Missouri, May 20, 2003 — EaglePicher Technologies, LLC announced today it has consolidated its former Specialty Materials Group (SMG) and its Power Division. Craig Kitchen, president of EaglePicher Technologies, made the announcement and named Louis “Lou” Lupo vice president and general manager of the new division. “Locating these advanced technologies units in one division allows us to efficiently share resources across the six businesses. I look forward to working with the new businesses in addition to my current Power team.” said Lou Lupo.

This move will bring together as one group the business units of Space Power, Defense Power, ElectroOptic Materials, Boron, Chemicals and Scientific Products. Their respective leaders will remain in place.

As part of the strategic repositioning of the Technologies Divisions, Craig Kitchen, president of EaglePicher Technologies, named Steve Westfall vice president and general manager of the EaglePicher Pharmaceutical Services Division (formerly ChemSyn Laboratories). Kitchen elaborated, “Steve’s leadership skills, honed in his previous position as vice president and general manager of SMG, will be critical to the continued growth of Pharmaceutical Services. Together with Lou Lupo leading the new consolidated Division and Kevin Quinn at the helm of Commercial Power, we have a strong management team in place at EaglePicher Technologies. Our goal is to deliver profitable growth through customer satisfaction.”

EaglePicher Technologies, LLC, a wholly owned subsidiary of EaglePicher Incorporated, has facilities in Colorado, Missouri, Oklahoma, Kansas and Canada. The operating unit develops and markets advanced high-reliability power systems and associated electronics for government, space and commercial applications. It also processes Boron isotopes, anticancer pharmaceutical ingredients, germanium and ultra clean scientific containers. Areas of focus include semiconductors, telecommunications, nuclear power plants, space, defense, environmental, and pharmaceutical/biotech. Additional information is available on the internet at www.eaglepicher.com.

EaglePicher Incorporated, headquartered in Phoenix, Arizona, is a diversified manufacturer and marketer of innovative, advanced technology and industrial products and services for space, defense, environmental, automotive, filtration, pharmaceutical, nuclear power, semiconductor and commercial applications worldwide. The company has 4,000 employees and operates more than 30 plants in the United States, Canada, Mexico, the U.K. and Germany. Additional information on the company is available on the Internet at www.eaglepicher.com.

This release contains statements which, to the extent that they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. These include any statements about future business operations, financial performance or market conditions. Such forward-looking information involves risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are discussed in EaglePicher Holding’s filings with the U.S Securities and Exchange Commission.

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