Church & Dwight Completes Purchase of Orajel and Other OTC Brands

The transaction was completed substantially under the original terms announced on April 1, 2008, which called for Church & Dwight to pay $380 million in cash at closing.

The purchase price was financed with a $250 million addition to its bank credit facility and available cash.

"The Orajel brand will be a great addition to the Church & Dwight family," said James R. Craigie, Chairman and Chief Executive Officer. "We are excited to expand our personal care portfolio and strengthen our presence in the strategic oral care category."

As previously announced, the acquisition is expected to have a neutral impact on 2008 earnings per share due primarily to one-time integration costs and the step-up of inventory. "We expect it to be accretive in 2009 and contribute meaningfully to earnings and free cash flow," Mr. Craigie concluded.

Church & Dwight Co., Inc. manufactures and markets a wide range of personal care, household and specialty products under the Arm & Hammer brand name and other well-known trademarks.

This release contains forward-looking statements relating, among others, to the acquisition of the assets of Del Pharmaceuticals with respect to, the effect of the acquisition on earnings per share and free cash flow. These statements represent the intentions, plans, expectations and beliefs of Church & Dwight, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control and could cause actual results to differ materially from such forward-looking statements, including but not limited to the risks associated with the successful integration of the Del Pharmaceuticals acquisition. The uncertainties include assumptions as to market growth and consumer demand (including the effect of political and economic events on consumer demand), raw material and energy prices, the financial condition of major customers, and marketing spending. Other factors, which could materially affect the results, include the outcome of contingencies, including litigation, pending regulatory proceedings and environmental remediation. For a description of additional cautionary statements, see Church & Dwight's quarterly and annual reports filed with the SEC.

SOURCE: Church & Dwight Co., Inc.

Church & Dwight Co., Inc. Matthew T. Farrell Chief Financial Officer 609-683-5900