NEWS RELEASE

FOR IMMEDIATE RELEASE

                  AMERICAN STANDARD REPORTS FOR ITS FULL YEAR:
                 RECORD SALES OF $7.2 BILLION, UP 10% OVER 1998

        RECORD EPS FROM CONTINUING OPERATIONS OF $3.76, UP 19% OVER 1998

         Piscataway,  NJ - February 10, 2000 - American Standard  Companies Inc.
(NYSE:ASD)  today  announced  record results for 1999.  Revenues from continuing
operations were $7.2 billion (excluding the results of the Medical businesses to
be  sold),  up 10%  over  1998.  Diluted  per  share  earnings  from  continuing
operations  increased  19% to $3.76.  After the loss on the sale of the  Medical
businesses  and the  impact of an  impairment  charge  principally  related to a
minority equity interest outside of the three core businesses, fully diluted per
share earnings for 1999 were $1.90.

         Frederic Poses, Chairman and Chief Executive Officer remarked,  "We are
pleased to report record sales and earnings for 1999.  Our  businesses  achieved
strong  overall  top line  growth  and share  gains in the  important  U.S.  and
European markets. Our businesses performed well despite weakness in the Far East
and Latin  America as well as a softening  in the  European  commercial  vehicle
market.  The overall  sales  growth of 10%  reflects  our global  diversity  and
business balance.

         "For the year,  the  Company's  earnings  growth and  operating  margin
expansion,  from 10% to 10.4%, reflect our continued success in leveraging sales
growth and reducing costs. Operating earnings and margin improvement were better
in both our  Plumbing  and Air  Conditioning  businesses.  Braking  and  Control
System's  operating  income and margin,  while still at good levels,  were below
last year reflecting higher warranty and product  development costs in 1999. The
overall Braking business,  after including increased equity income from our U.S.
marketing joint venture, was comparable to last year.

         "We  have  made  significant  progress  on  the  sale  of  the  Medical
businesses  and recorded the  estimated  loss on the sale of these  discontinued
businesses in the fourth  quarter.  In addition to the cash we will receive from
the sale,  the Company  expects to share in the  potential  future  value of the
business.

         "With the selling of the Medical  businesses  and the  strengths of our
three core  businesses,  I am  confident  that 2000 will be another  outstanding
year."

                           Recent Business Highlights

         Air Conditioning Systems and Services

                  Trane was awarded a $13 million equipment and building control
                  systems  contract  for the new UPS  distribution  center,  Hub
                  2000, in Louisville,  Kentucky. The center,  covering 47 acres
                  under  one  roof,  will  be the  largest  single  distribution
                  structure of its kind in the world.

                  The  Consumers   Digest  Annual  Buying  Guide  named  Trane's
                  residential gas furnace (XL 80) a "Best Buy" in its category.
<PAGE>

         Plumbing Products

                  The Marriot  hotel  chain  selected  American  Standard as its
                  exclusive U.S.  supplier of bathroom  fixtures and faucets for
                  new construction and renovations.

         Braking and Control Systems

                  The two leading  producers of transmissions in Europe selected
                  WABCO as their development  partner for gearbox  automation on
                  medium-sized commercial vehicles.

                  Freightliner selected Meritor WABCO as its development partner
                  for an advanced  vehicle  roll  stability  protection  system.
                  Production is scheduled for late 2000.

                                 Full Year 1999

Revenues from continuing  operations were $7.2 billion,  up 10% over 1998 and up
11% excluding unfavorable foreign exchange effects. Excluding the effects of the
Plumbing and Air Conditioning service  acquisitions and foreign exchange,  sales
increased  a solid  7%.  Segment  income  from  continuing  operations  was $751
million,  an increase of 14% from $658  million  last year (16%  excluding a $13
million unfavorable foreign exchange effect).

         Air Conditioning Systems and Services sales were $4,337 million, up 10%
         from last year.  U.S.  markets  expanded  5% to 6% as  replacement  and
         renovation   continued   to  grow  and  new  housing   and   commercial
         construction remained near record high levels. Markets outside the U.S.
         were  mixed with  Europe up  slightly  while  markets in Asia and Latin
         America were down.  Segment  income  increased $67 million,  or 17%, to
         $453 million and margin improved from 9.8% to 10.4% reflecting improved
         volume in the U.S.  and cost  improvements  in  international  markets,
         primarily Europe.

         Plumbing  Products  sales were $1,755  million,  up 16% from last year.
         Excluding the effects of the Armitage/Dolomite  acquisition in February
         1999 and the divestiture of the Porcher  distribution  business,  sales
         increased 2% (5% excluding  exchange).  Markets in the U.S. expanded by
         over 5% as renovation and  remodeling,  driven by the large retail home
         center expansion,  continued to grow and new housing starts remained at
         high levels. Markets were flat in Europe,  continued to be soft in Asia
         and were down significantly in Latin America.  Segment income increased
         $45 million, or 38% (44% excluding exchange),  to $164 million,  mainly
         due  to  the  acquired  Armitage/Dolomite   businesses,  strong  volume
         increases  in  the  U.S.  and  cost   improvements  from  the  European
         restructuring program. Margin improved substantially from 7.9% to 9.3%.

         Braking and Control Systems sales were $1,098 million,  down 1%, but up
         4%  excluding  exchange.  European  and  Brazilian  commercial  vehicle
         production  rates  were  down  1% and  28%,  respectively,  while  U.S.
         commercial vehicle production  increased 21%. Export sales and sales by
         the U.S.  compressor  manufacturing  joint  venture were  significantly
         higher.  Segment  income  decreased $19 million ($10 million  excluding
         exchange) to $134 million  mainly due to warranty  costs and  increased
         product development  spending,  compressing margin from 13.8% to 12.2%.
         The decline in segment income,  however,  was  substantially  offset by
         increased  equity  income from the U.S.  marketing  joint venture which
         expanded  its  market  leading  position,  shipping  more than  600,000
         antilock  braking  systems  to the North  American  commercial  vehicle
         market in 1999, an increase of 33% over the prior year.

         Restructuring  and asset  impairment  reflects a charge of $27  million
principally in Braking and Control Systems related to the movement of production
from  Western  Europe to a low-cost  facility in Poland.  This charge is largely
offset by a reduction of charges  taken in 1998 to  restructure  North  American
operations.  Also  included  is a $13  million  impairment  charge  related to a
minority equity interest outside the Company's three core businesses.
<PAGE>

         Corporate and Other Expense of $134 million was $24 million higher than
the prior year mainly due to costs  associated  with certain  corporate  officer
retirements,  a related pension adjustment and increased  financing fees paid to
the Company's  financial services joint venture resulting from increased volumes
in the U.S. businesses.

         Foreign Exchange had a negative effect on diluted per share earnings of
$0.08.

         Discontinued operations include the Medical Systems 1999 operating loss
of $23 million ($14 million net of tax).  The estimated  loss on the sale of the
Medical  businesses is $112 million net of tax.  Including  the Medical  Systems
operating  loss for 1999, the total Company full year results were sales of $7.3
billion and diluted per share earnings of $3.56.

                             Fourth Quarter Summary

Total sales from  continuing  operations  for the fourth  quarter  1999 of $1.75
billion were up 9% (12%  excluding a $52 million  unfavorable  foreign  exchange
effect). Segment income from continuing operations in the fourth quarter of 1999
was $157 million,  an increase of 15% from $136 million last year (19% excluding
a $4 million  unfavorable  foreign exchange effect).  Net income from continuing
operations  (excluding  restructuring  charges) was $53 million or $0.73 diluted
earnings per share, an increased of 16% from fourth quarter 1998.

         Air  Conditioning  Systems and Services  sales  increased 10% to $1,028
         million  and segment  income  increased  38% to $83  million  driven by
         increased volume and cost improvements.

         Plumbing Products sales increased 16% (21% excluding  exchange) to $439
         million   reflecting   strong   increases   in  the   U.S.,   plus  the
         Armitage/Dolomite   acquisition.   Segment  income   increased  5%  (8%
         excluding  exchange) to $42 million over a strong  fourth  quarter 1998
         performance.  Improved performance  resulting from higher U.S. volumes,
         European restructuring and the acquired  Armitage/Dolomite business was
         partly offset by weakness in Latin America and onetime costs associated
         with the consolidation  and integration of manufacturing  facilities in
         the U.K. and rapid expansion of production in Bulgaria.

         Braking  and Control  Systems  sales  decreased  3%, but  increased  7%
         excluding  exchange,  to $287 million  reflecting the continuing strong
         shipments  to the U.S.  marketing  joint  venture  and good  levels  of
         European  commercial  vehicle  production.  Segment income decreased $4
         million or 11%, but was unchanged excluding  exchange.  Margin declined
         due to  increased  warranty  costs and  product  development  spending.
         Equity  income  from  the  U.S.   marketing  joint  venture   increased
         substantially in the quarter.

American  Standard is a global  manufacturer  with market  leading  positions in
three  businesses:  Trane(R),  the  nation's  leading  supplier  of central  air
conditioning equipment for commercial and institutional  buildings and a premier
brand for residential buildings; American Standard(R) and Ideal Standard(R), the
world's largest  manufacturer of plumbing  products;  and WABCO(R),  the leading
supplier of electronic braking and control systems to the world's  manufacturers
of heavy-duty trucks and buses. The Company employs  approximately 57,000 people
in 33 countries.  American  Standard is included in the Standard & Poor's MidCap
400 Index.

         Comments  in this  earnings  release  contain  certain  forward-looking
statements,  which are based on management's good faith  expectations and belief
concerning future developments.  Actual results may differ materially from these
expectations  as a result of many  factors,  relevant  examples of which are set
forth in the Company's 1998 Annual Report on Form 10-K and in the  "Management's
Discussion and Analysis" section of the Company's Quarterly Reports on Form 10-Q
and 1998 Annual Report to Shareholders.

For Further Information Contact:
Ray Pipes (732) 980-6095 or Phil Bradtmiller (732) 980-6038
The  latest  news   release   and   corporate   information   can  be  heard  on
1-888-ASD-NEWS.  Additional information on American Standard is available on the
Company's Worldwide Web site at http://www.americanstandard.com

<PAGE>

<TABLE>


                        AMERICAN STANDARD COMPANIES INC.
                      CONSOLIDATED STATEMENT OF OPERATIONS
                                   (Unaudited)
<CAPTION>

In millions except
per share data                                                       Year Ended
December 31,
                                                ------------------------------------------------------------------
                                                    1999              1999             1998              1998
                                                  Reported        Adjusted (a)       Reported        Adjusted (a)
                                                -------------     -------------    -------------     -------------
<S>                                            <C>              <C>               <C>                <C>
Sales
     Air Conditioning Systems and Services           $ 4,337                            $ 3,940
     Plumbing Products                                 1,755                              1,510
     Braking and Control Systems                       1,098                              1,106
                                                -------------                      -------------
     Total                                           $ 7,190                            $ 6,556
                                                =============                      =============

Segment income
     Air Conditioning Systems and Services             $ 453                              $ 386
     Plumbing Products                                   164                                119
     Braking and Control Systems                         134                                153
                                                -------------                      -------------
     Total                                               751             $ 751              658             $ 658

Equity in net income of unconsolidated
     joint ventures                                       37                37               27                27
                                                -------------     -------------    -------------     -------------
                                                         788               788              685               685

Restructuring and asset impairment charge                 15                 -              197                 -
                                                -------------     -------------    -------------     -------------
                                                         773               788              488               685

Interest expense                                         188               188              188               188
Corporate and other expenses                             134               134              110               110
                                                -------------     -------------    -------------     -------------
Income from continuing operations before
     income taxes and extraordinary item                 451               466              190               387
Income taxes                                             187               193              141               155
                                                                  -------------
                                                -------------                      -------------     -------------
Income from continuing operations before
     extraordinary item                                  264               273               49               232

Discontinued operations:
     Loss from operations, net of tax benefit             14                14               15                15
     Loss on disposition, net of tax benefit             112               112                -                 -
                                                -------------     -------------    -------------     -------------
Loss from discontinued operations                        126               126               15                15

Extraordinary loss on retirement of debt,
     net of tax benefit                                    -                 -               50                50
                                                -------------     -------------    -------------     -------------
 Net income (loss)                                      $ 138             $ 147            $ (16)            $ 167
                                                =============     =============    =============     =============

Basic per common share
  income from continuing operations                   $ 3.74            $ 3.87           $ 0.68            $ 3.24
Loss from discontinued operations                      (1.78)            (1.78)           (0.21)            (0.21)
Extraordinary loss on retirement of debt                   -                 -            (0.70)            (0.70)
                                                -------------     -------------    -------------     -------------
Net income (loss)                                     $ 1.96            $ 2.09          $ (0.22)           $ 2.33
                                                =============     =============    =============     =============

Diluted per common share
  income from continuing operations                   $ 3.63            $ 3.76           $ 0.66            $ 3.15
Loss from discontinued operations                      (1.73)            (1.73)           (0.20)            (0.20)
Extraordinary loss on retirement of debt                   -                 -            (0.68)            (0.68)
                                                -------------     -------------    -------------     -------------
Net income (loss)                                     $ 1.90            $ 2.02          $ (0.22)           $ 2.27
                                                =============     =============    =============     =============

Average basic outstanding common shares                 70.5              70.5             71.7              71.7
Average diluted outstanding common shares               72.7              72.7             73.7              73.7

<FN>

(a)  Adjusted results exclude restructuring and
        asset impairment charges in 1999 and 1998.
</FN>
</TABLE>

<PAGE>

<TABLE>


                        AMERICAN STANDARD COMPANIES INC.
                      CONSOLIDATED STATEMENT OF OPERATIONS
                                   (Unaudited)
<CAPTION>
In millions except                                                       Three Months Ended December 31,
per share data                                         --------------------------------------------------------------------

                                                           1999              1999              1998              1998
                                                         Reported        Adjusted (a)        Reported        Adjusted (a)
                                                       --------------    --------------    --------------    --------------
<S>                                                   <C>              <C>                <C>              <C>

Sales

     Air Conditioning Systems and Services                   $ 1,028                               $ 937
     Plumbing Products                                           439                                 381
     Braking and Control Systems                                 287                                 295
                                                       --------------                      --------------
     Total                                                   $ 1,754                             $ 1,613
                                                       ==============                      ==============

Segment income

     Air Conditioning Systems and Services                      $ 83                                $ 60
     Plumbing Products                                            42                                  40
     Braking and Control Systems                                  32                                  36
                                                       --------------                      --------------
     Total                                                       157             $ 157               136             $ 136

Equity in net income of unconsolidated
     joint ventures                                               10                10                 6                 6
                                                       --------------    --------------    --------------    --------------
                                                                 167               167               142               142

Restructuring and asset impairment charge                         15                 -               163                 -
                                                       --------------    --------------    --------------    --------------
                                                                 152               167               (21)              142

Interest expense                                                  47                47                43                43
Corporate and other expenses                                      30                30                25                25
                                                       --------------    --------------    --------------    --------------
Income (loss) from continuing operations before

     income taxes and extraordinary item                          75                90               (89)               74
Income taxes                                                      31                37                21                29
                                                       --------------    --------------    --------------    --------------
Income (loss) from continuing operations                          44                53              (110)               45

Discontinued Operations:
     Loss from operations, net of tax benefit                      2                 2                 7                 7
     Loss on disposition, net of tax benefit                     112               112                 -                 -
                                                       --------------    --------------    --------------    --------------
Loss from discontinued operations                                114               114                 7                 7
                                                       --------------    --------------    --------------    --------------
Net income (loss)                                              $ (70)            $ (61)            $(117)             $ 38
                                                       ==============    ==============    ==============    ==============

Basic per common share
  income from continuing operations                             0.62              0.75             (1.57)             0.64
Loss from discontinued operations                              (1.61)            (1.61)            (0.10)            (0.10)
                                                       --------------    --------------    --------------    --------------
Net income (loss)                                            $ (0.99)          $ (0.86)          $ (1.67)           $ 0.54
                                                       ==============    ==============    ==============    ==============

Diluted per common share

Income from continuing operations                               0.60              0.73             (1.57)             0.63
Loss from discontinued operations                              (1.56)            (1.56)            (0.10)            (0.10)
                                                       --------------    --------------    --------------    --------------
Net income (loss)                                            $ (0.96)          $ (0.83)          $ (1.67)           $ 0.53
                                                       ==============    ==============    ==============    ==============


Average basic outstanding common shares                         70.7              70.7              70.2              70.2
Average diluted outstanding common shares                       72.9              72.9              70.2              71.7

<FN>

(a)  Adjusted results exclude restructuring and asset impairment
     charges in 1999 and 1998.
</FN>
</TABLE>