NL Industries, Inc.                   Contact: Gregory M. Swalwell
Three Lincoln Centre                           Vice President, Finance and Chief
5430 LBJ Freeway, Suite 1700                      Financial Officer
Dallas, TX  75240-2697                         (972) 233-1700
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News Release
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FOR IMMEDIATE RELEASE
[LOGO GOES HERE]

                        NL REPORTS THIRD QUARTER RESULTS

DALLAS,  TEXAS...November 8, 2004...NL Industries, Inc. (NYSE:NL) today reported
net income for the third  quarter of 2004 of $8.5  million,  or $.18 per diluted
share,  compared with net income of $16.3 million, or $.34 per diluted share, in
the third  quarter  of 2003.  For the first  nine  months of 2004,  the  Company
reported net income of $195.0 million, or $4.03 per diluted share, compared with
net  income of $55.2  million,  or $1.15 per  diluted  share,  in the first nine
months of 2003.  The increase in net income in the 2004  year-to-date  period is
primarily due to certain second quarter income tax benefits described below.

On  September  24,  2004,  the  Company  purchased  10,374,000  shares  of CompX
International  Inc.  common  stock,   representing   approximately  68%  of  the
outstanding  shares of CompX common stock,  from Valhi,  Inc. and a wholly-owned
subsidiary  of Valhi.  Because  Valhi,  NL and CompX are all entities  under the
common control of Contran Corporation,  the Company's  acquisition of the shares
of CompX common stock resulted in a change in reporting entity,  and the Company
has retroactively  restated its consolidated financial statements to reflect the
consolidation of CompX for all periods presented.

Following  the  Company's  July  2004  dividend  in the form of shares of Kronos
Worldwide,  Inc.  common stock  distributed  to NL  stockholders,  the Company's
ownership of Kronos was reduced to less than 50%.  Consequently,  effective July
1, 2004, the Company ceased to consolidate Kronos' financial  position,  results
of  operations  and cash flows,  and the Company  commenced  accounting  for its
interest in Kronos by the equity method.  The Company continues to report Kronos
as a consolidated  subsidiary through June 30, 2004, including the consolidation
of Kronos'  results of  operations  and cash flows for the first two quarters of
2004.

The Company conducts its component  products  business through CompX.  Component
products  sales of $56.0 million in the third quarter of 2004 were $3.4 million,
or 7% higher than the third quarter of 2003, and sales  increased $12.5 million,
or 8%, to $165.8  million  for the first nine  months of 2004 as compared to the
first nine months of 2003,  due  primarily to higher sales  volumes of precision
slide and security  products and increases in certain  slide product  surcharges
and prices  (primarily  to recover the  increase in raw  material  steel  prices
experienced  during 2004).  Sales  comparisons  were also favorably  impacted by
relative  changes in foreign currency  exchange rates,  which increased sales by
$1.1  million in the third  quarter of 2004 as compared to the third  quarter of
2003, and increased sales by $4.5 million in the first nine months of the year.

Component products segment profit for the third quarter of 2004 was $5.8 million
compared  with an  operating  loss of  $400,000  in the third  quarter  of 2003.
Component  products  segment  profit for the first nine months of 2004 was $14.7
million compared with $1.8 million for the first nine months of 2003.  Component
products  segment profit  comparisons  were favorably  impacted by the effect of
certain cost reduction efforts previously  undertaken,  including  consolidating
CompX's two  Canadian  facilities  into one facility  and the  restructuring  of
CompX's operations in the Netherlands.  In addition,  segment profit comparisons
were also impacted by an unfavorable change in product mix of security products,
the effect of selling price increases for certain products,  higher raw material
and medical costs and expenses of  approximately  $900,000  incurred  during the
first nine months of 2003 (mostly in the first half of the year) associated with
the  consolidation of the two Canadian  facilities.  In addition,  the component
products  segment  loss in the third  quarter of 2003  includes  a $3.5  million
restructuring  charge  associated with the  implementation  of certain headcount
reductions at CompX's Netherlands operations.

Kronos' sales of $286.1 million in the third quarter of 2004 were $43.2 million,
or 18%,  higher  than the  third  quarter  of 2003,  and sales  increased  $82.6
million, or 11%, to $845.1 million for the first nine months of 2004 as compared
to the first nine months of 2003, as the  favorable  effect of  fluctuations  in
foreign  currency  exchange rates,  which increased sales by  approximately  $11
million and $46 million,  respectively,  and higher TiO2 sales volumes more than
offset the impact of lower average TiO2 selling prices.

Kronos' segment profit for the third quarter of 2004 was $29.8 million  compared
with $35.4 million in the third  quarter of 2003,  and was $96.2 million for the
first nine months of 2004 compared with $105.2 million for the first nine months
of 2003. Segment profit  comparability was impacted  principally by higher sales
and production  volumes and lower average TiO2 selling  prices.  Fluctuations in
foreign   currency   exchange  rates  favorably   impacted   segment  profit  by
approximately  $7 million  for the first nine  months of 2004 as compared to the
same period in 2003, while the effect of currency exchange rate fluctuations was
not significant for the quarter.  In addition,  segment profit in the first nine
months of 2004 includes  income in the second  quarter of $6.3 million ($.04 per
diluted  share of NL,  net of income  taxes and  minority  interest)  related to
Kronos' settlement of a contract dispute with a certain customer.

Kronos' average selling prices in billing currencies (which excludes the effects
of fluctuations  in the value of the U.S.  dollar relative to other  currencies)
during  the  third  quarter  and  first  nine  months  of  2004  were 1% and 3%,
respectively,  lower  than the  comparable  periods of 2003.  Expressed  in U.S.
dollars computed using actual foreign currency  exchange rates prevailing during
the respective  periods,  Kronos' average selling prices in the third quarter of
2004 were 3% higher  than the third  quarter of 2003 and 2% higher for the first
nine months of 2004 compared with 2003. Reflecting the partial implementation of
prior price  increase  announcements,  the Company's  average  selling prices in
billing  currencies in the third quarter of 2004 were 3% higher  compared to the
second quarter of 2004, the first quarter with an upward trend in selling prices
since the third quarter of 2003.

Kronos'  third  quarter  2004 TiO2 sales  volumes  increased  16% from the third
quarter of 2003,  as higher sales  volumes in Europe,  United  States and export
markets  more than  offset  the effect of lower  volumes  in Canada.  TiO2 sales
volumes  for the first  nine  months of 2004  increased  9% from the first  nine
months of 2003.  Kronos' TiO2  production  volumes in the third  quarter of 2004
were 5% higher than the third quarter of 2003,  and 3% higher for the first nine
months of 2004 compared to 2003,  with operating  rates at near full capacity in
all periods presented.  Sales and production volumes in the first nine months of
2004 were both new records for Kronos.

Interest  and  dividend  income from  affiliates  is higher in the 2004  periods
compared to the 2003 periods due  primarily  to the  Company's  interest  income
related to its note  receivable  from  Kronos,  which  prior to July 1, 2004 was
eliminated  in  the  Company's  consolidated  financial  statement.   Securities
transactions gains (losses), net for 2003 included the previously-reported first
quarter $2.3 million noncash securities  transaction gain ($1.5 million, or $.03
per diluted share, net of income taxes) related to the exchange of the Company's
holdings of Tremont Corporation common stock for shares of Valhi common stock as
a result of a series of merger transactions completed in February 2003.

The gain on disposal of fixed  assets  relates  primarily to the sale of certain
real property of NL. General corporate expenses, net for 2004 decreased compared
to 2003 primarily due to lower environmental remediation and legal expenses.

Interest expense decreased  primarily due to the change in accounting for Kronos
to the equity method as of July 1, 2004. Prior to July 1, 2004, interest expense
related to Kronos' debt was  included in the  Company's  consolidated  financial
statements.  CompX has a nominal amount of outstanding indebtedness at September
30, 2004.

The  Company's  income tax benefit in the first nine  months of 2004  includes a
second  quarter  $245.6  million tax benefit  ($2.57 per diluted  share,  net of
minority  interest)  related  to the  reversal  of a  deferred  income tax asset
valuation  allowance  attributable  to Kronos'  income tax attributes in Germany
(principally  net  operating  loss  carryforwards).  The  reversal of the German
valuation  allowance reflects Kronos' revised estimate of its ability to utilize
its  German  net  operating   loss   carryforwards   in  the  future  under  the
"more-likely-than-not"  recognition criteria. The first nine months of 2004 also
includes a second quarter tax benefit attributable to the Company's  recognition
of a $43.1 million income tax benefit ($.89 per diluted share) related to income
tax attributes of a certain subsidiary.  This income tax benefit resulted from a
settlement  agreement  reached with the U.S. IRS concerning the IRS'  previously
reported  examination  of a certain  restructuring  transaction  involving  this
subsidiary  and includes (i) a $12.6 million tax benefit  related to a reduction
in the  amount of  additional  income  taxes  and  interest  which  the  Company
estimates  it will be  required to pay related to this matter as a result of the
settlement  agreement  and  (ii) a $30.5  million  tax  benefit  related  to the
reversal of a deferred income tax asset valuation  allowance  related to certain
tax  attributes  of  this  subsidiary  (including  a  U.S.  net  operating  loss
carryforward)  which the Company now believes  meets the  "more-likely-than-not"
recognition criteria.

The Company  recognized  a $24.6  million  income tax benefit  ($.52 per diluted
share) in the  second  quarter of 2003  related  to Kronos'  previously-reported
favorable German court ruling concerning its claim for refund suit.

The statements in this release relating to matters that are not historical facts
are  forward-looking   statements  that  represent   management's   beliefs  and
assumptions  based on  currently  available  information.  Although  the Company
believes that the expectations reflected in such forward-looking  statements are
reasonable,  it cannot give any assurances that these expectations will prove to
be correct.  Such  statements  by their  nature  involve  substantial  risks and
uncertainties  that could  significantly  impact  expected  results,  and actual
future   results  could  differ   materially   from  those   described  in  such
forward-looking  statements.  While it is not  possible to identify all factors,
the Company  continues to face many risks and  uncertainties.  Among the factors
that could cause actual future results to differ materially include, but are not
limited to:

     o    Future supply and demand for the Company's products,
     o    The extent of the dependence of certain of the Company's businesses on
          certain market sectors,
     o    The cyclicality of certain of the Company's businesses,
     o    The impact of certain long-term  contracts on certain of the Company's
          businesses,
     o    Customer inventory levels,
     o    Changes in raw material and other operating costs,
     o    The possibility of labor disruptions,
     o    General global economic and political conditions,
     o    Competitive products and substitute products,
     o    Customer and competitor strategies,
     o    The impact of pricing and production decisions,
     o    Competitive technology positions,
     o    The introduction of trade barriers,
     o    Fluctuations in currency exchange rates,
     o    Operating interruptions,
     o    The ability to implement headcount reductions in certain operations in
          a cost effective manner with the constraints of non-U.S.  governmental
          regulations,  and the  timing  and  amount  of any such  cost  savings
          realized,
     o    The ability of the Company to renew or refinance credit facilities,
     o    Uncertainties associated with new product development,
     o    The ultimate outcome of income tax audits, tax settlement  initiatives
          or other tax matters,
     o    The ultimate ability to utilize income tax attributes,  the benefit of
          which has been recognized under the "more-likely-than-not" recognition
          criteria,
     o    Environmental matters,
     o    Government laws and regulations and possible changes therein,
     o    The ultimate resolution of pending litigation, and
     o    Possible future litigation.

Should one or more of these risks  materialize  (or the  consequences  of such a
development  worsen),  or should the  underlying  assumptions  prove  incorrect,
actual  results could differ  materially  from those  forecast or expected.  The
Company   disclaims  any  intention  or  obligation  to  update  or  revise  any
forward-looking statement whether as a result of new information,  future events
or otherwise.

In an effort to provide  investors  with  additional  information  regarding the
Company's results as determined by accounting  principles  generally accepted in
the  United  States of America  ("GAAP"),  the  Company  has  disclosed  certain
non-GAAP  information which the Company believes provides useful  information to
investors:

     o    The  Company  discloses  percentage  changes in Kronos'  average  TiO2
          selling  prices in billing  currencies,  which excludes the effects of
          foreign currency translation.  The Company believes disclosure of such
          percentage  changes allows  investors to analyze such changes  without
          the  impact of changes in foreign  currency  exchange  rates,  thereby
          facilitating  period-to-period  comparisons  of  relative  changes  in
          average  selling  prices in the  actual  various  billing  currencies.
          Generally,  when the U.S. dollar either strengthens or weakens against
          other  currencies,  the percentage change in average selling prices in
          billing  currencies will be higher or lower,  respectively,  than such
          percentage  changes would be using actual  exchange  rates  prevailing
          during the respective periods.

NL Industries,  Inc. is engaged in the component  products  (ergonomic  computer
support  systems,  precision  ball  bearing  slides and security  products)  and
titanium dioxide pigments industries.



<PAGE>


                               NL INDUSTRIES, INC.
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                     (In millions, except earning per share)
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                  Three months ended         Nine months ended
                                                                     September 30,             September 30,
                                                               -------------------------  --------------------------
                                                               -------------------------  --------------------------
                                                                   2003        2004          2003         2004
                                                               -----------------------------------------------------
                                                               -----------------------------------------------------

<S>                                                             <C>          <C>          <C>          <C>
Net sales:
  Chemicals                                                     $    242.9   $      -     $    762.5   $   559.1
  Component products                                                  52.6       56.0          153.3       165.8
                                                                ----------   --------     ----------   ---------

                                                                $    295.5   $   56.0     $    915.8   $   724.9
                                                                ==========   ========     ==========   =========

Segment profit (loss):
  Chemicals                                                     $     35.4   $      -     $    105.2   $    66.4

  Component products                                                   (.4)       5.8            1.8        14.7
                                                                ----------   --------     ----------   ---------

      Total segment profit                                            35.0        5.8          107.0        81.1

General corporate items:
  Interest and dividend income from affiliates                          .3        4.5             .8         5.0
  Interest and dividend income                                          .5         .4            1.8         1.5
  Securities transactions gains (losses), net                          (.1)       -              2.4         (.1)
  Gain on disposal of fixed assets                                     7.2        -              8.3         -
  Legal settlement gains, net                                          -          -               .7          .5
  General corporate expenses, net                                     (9.7)      (3.7)         (48.2)      (15.0)
  Noncompete agreement income                                          -          -               .3         -
  Other income                                                          .2         .1             .3          .1

  Interest expense                                                    (8.6)       (.1)         (25.7)      (18.2)
                                                                ----------   ---------    -----------  ----------

                                                                      24.8        7.0           47.7         54.9

Equity in earnings of Kronos Worldwide, Inc.                        -             5.0           -             5.0
                                                                ----------   --------    -----------   ----------

    Income before income taxes and minority interest                  24.8       12.0           47.7        59.9

Income tax expense (benefit)                                           8.6        2.2           (7.8)     (275.7)

Minority interest in after-tax earnings                                (.1)       1.3           -          140.6
                                                               -----------  ---------    -----------   ---------

    Net income                                                 $      16.3  $     8.5    $      55.2   $   195.0
                                                               ===========  =========    ===========   =========


Basic and diluted net income per share                         $       .34  $     .18    $      1.15   $    4.03
                                                               ===========  =========    ===========   =========


Weighted-average shares used in the
  calculation of earnings per share:

    Basic shares                                                      47.7       48.4           47.7        48.3

    Dilutive impact of stock options                                    .1         .1             .1          .1
                                                                ----------  ---------    -----------   ---------

    Diluted shares                                                    47.8       48.5           47.8        48.4
                                                                ==========  =========    ===========   =========
</TABLE>



<PAGE>


                               NL INDUSTRIES, INC.
                     RECONCILIATION OF PERCENTAGE CHANGE IN
                       KRONOS' AVERAGE TiO2 SELLING PRICES
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                  Three months ended           Nine months ended
                                                                    September 30,               September 30,
                                                                    2004 vs. 2003               2004 vs. 2003
                                                                   ----------------            ----------------

<S>                                                                     <C>                         <C>
Percentage change in average selling prices:
    Using actual foreign currency exchange rates                             +3%                         +2%
    Impact of changes in foreign currency exchange rates                     -4%                         -5%
                                                                        --------                    --------
    In billing currencies                                                    -1%                         -3%
                                                                        ========                    ========
</TABLE>