Exhibit 99.1

Grace News

GRACE REPORTS FIRST QUARTER RESULTS

Adjusted EPS $0.78; Sales increased 13%

COLUMBIA, Maryland, April 26, 2011 — W. R. Grace & Co. (NYSE: GRA) today announced its financial results for the first quarter ended March 31, 2011.  The following are performance measures for the first quarter:

·                  Sales increased 13.1% to $695.7 million from $614.9 million in the prior year quarter.  Sales increased 15.9% in the emerging regions.

·                  Adjusted EBIT increased 48.8% to $95.7 million from $64.3 million in the prior year quarter.  Adjusted EPS was $0.78 compared with $0.50 in the prior year quarter.

·                  Grace net income decreased 3.7% to $54.2 million in the first quarter compared with $56.3 million in the prior year quarter.  The prior year quarter included an income tax benefit of $16.5 million.  Income before income taxes increased 97.8% compared with the prior year quarter.  Grace’s diluted EPS was $0.72 compared with $0.76 in the prior year quarter.

·                  Adjusted Operating Cash Flow was $20.9 million in the first quarter compared with $27.2 million in the prior year quarter.

·                  Adjusted EBIT Return on Invested Capital increased to 28.5% on a trailing four quarter basis compared with 24.0% in the prior year quarter.

“We had a good quarter and I am pleased with our results,” said Fred Festa, Grace’s Chairman, President and Chief Executive Officer.  “Our catalyst businesses are performing well and we are successfully managing margins despite significant raw material inflation.  We are executing well against our performance objectives for sales growth, EBITDA margin expansion and return on invested capital.”

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First Quarter Results

Sales increased 13.1% overall and 15.9% in the emerging regions compared with the prior year quarter.  The sales increase was due to higher sales volumes (6.5%), improved pricing (6.4%) and favorable currency translation (0.2%).

Gross profit percentage was 36.2% compared with 34.8% in the prior year quarter and 34.9% in the 2010 fourth quarter.  The increase in gross profit percentage was primarily due to better operating leverage, improved pricing, and better product mix in Grace Davison, partially offset by higher raw material costs.  Grace currently expects raw material cost inflation for 2011 to be approximately $60 million, excluding rare earth inflation.  Based on pricing and other actions, Grace expects to maintain its gross profit percentage within its 35-37% target range.

Adjusted EBIT (see note A) was $95.7 million, an increase of 48.8% compared with $64.3 million in the prior year quarter.  Adjusted EBIT margin was 13.8% compared with 10.5% in the prior year quarter.  The increase in Adjusted EBIT was primarily due to the increase in sales volumes and improved gross profit percentage compared with the prior year quarter.

Grace net income for the first quarter was $54.2 million, or $0.72 per diluted share, compared with $56.3 million, or $0.76 per diluted share, in the prior year quarter.  The prior year quarter included an income tax benefit of $16.5 million.  Income before income taxes increased 97.8% compared with the prior year quarter.

Grace Davison

Segment operating income up 34.9%

First quarter sales for the Grace Davison operating segment, which includes specialty catalysts and materials used in a wide range of industrial applications, were $488.1 million, an increase of 16.7% compared with the prior year quarter. The sales increase was due to

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higher sales volumes (8.8%) and improved pricing (8.4%), partially offset by unfavorable currency translation (0.5%).  Sales in the emerging regions increased 16.1% compared with the prior year quarter.

Sales of this operating segment are reported by product group as follows:

·                  Refining Technologies — sales of catalysts and chemical additives used by petroleum refineries were $216.8 million in the first quarter, an increase of 26.1% from $171.9 million in the prior year quarter.  Sales volumes increased more than 10% compared with the prior year quarter, reflecting stronger customer demand for new and existing FCC catalyst products.  In response to higher rare earth costs, Grace has accelerated its product innovation efforts, and is working closely with customers that want to reduce the rare earth content in their catalysts.  During the first quarter, Grace introduced eight new catalyst products with improved activity, better metals trapping technologies, and reduced rare earth content.

·                  Materials Technologies — sales of engineered materials, coatings and sealants used in industrial and packaging applications were $170.7 million in the first quarter, an increase of 6.0% compared with the prior year quarter.  Sales in this product group were favorably affected by increased customer demand for industrial and consumer goods across all regions.

·                  Specialty Technologies — sales of highly specialized catalysts, materials and equipment used in unique or proprietary applications and markets were $100.6 million in the first quarter, an increase of 17.9% from the prior year quarter.  Sales in this product group were favorably affected by increased customer demand for polyolefin and chemicals catalysts.  Sales increased 57.3% in the emerging regions.

Gross profit percentage was 37.4% compared with 35.0% in the prior year quarter and 35.6% in the 2010 fourth quarter.  The increase in gross profit percentage compared with

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the prior year quarter was primarily due to improved pricing, better operating leverage, and better product mix, partially offset by higher raw material costs.

Segment operating income for the first quarter was $118.3 million compared with $87.7 million in the prior year quarter, a 34.9% increase primarily due to higher sales volumes and improved gross profit percentage.  Segment operating margin was 24.2% compared with 21.0% in the prior year quarter.

Grace Construction Products

Sales up 5.5%; Emerging region sales up 15.6%

First quarter sales for the Grace Construction Products operating segment, which includes Specialty Construction Chemicals (SCC) products and Specialty Building Materials (SBM) products used in commercial, infrastructure and residential construction, were $207.6 million, up 5.5% from the prior year quarter due to higher sales volumes (1.7%), improved pricing (2.1%), and favorable currency translation (1.7%).  The higher sales volumes were primarily due to increased demand for SCC products across all regions, partially offset by lower SBM sales.  Sales in emerging regions increased 15.6% compared with the prior year quarter.

Sales of this operating segment are reported by geographic region as follows:

·                  Americas - sales to customers in the Americas were $108.8 million in the first quarter, an increase of 4.3% from the prior year quarter.   Sales in North America decreased 1.9% primarily due to lower customer demand for SBM products, partially offset by increased demand for SCC products.  Sales in Latin America grew 41.1% driven by improved pricing, increased customer demand, and favorable currency translation.

·                  Europe — sales to customers in Europe, the Middle East, Africa and India were $58.1 million in the first quarter, a decrease of 2.0% from the prior year quarter, primarily due to weak customer demand for SBM products resulting from delayed project starts in the Middle East.

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·                  Asia — sales to customers in Asia (excluding India), Australia and New Zealand were $40.7 million in the first quarter, an increase of 23.0% from the prior year quarter.  Sales increased primarily due to higher sales volumes to new and existing customers throughout the region.

Gross profit percentage was 33.7% in the first quarter compared with 34.7% in the prior year quarter and 33.6% in the 2010 fourth quarter.  The decrease in gross profit percentage compared with the prior year quarter was primarily due to higher raw material costs partially offset by improved pricing.  The increase in gross profit percentage compared with the 2010 fourth quarter was primarily due to improved pricing partially offset by higher raw material costs.

Segment operating income for the first quarter was $16.3 million compared with $15.6 million for the prior year quarter, a 4.5% increase.  The increase was primarily due to higher sales volumes and savings from restructuring actions taken in 2010, partially offset by lower gross profit percentage.  Segment operating margin was 7.9%, equal to the prior year quarter.

Corporate Costs

Corporate costs increased $3.2 million in the first quarter compared with the prior year quarter primarily due to higher performance based incentive compensation and employee benefits costs.

Pension Expense

Defined benefit pension expense for the first quarter was $16.5 million compared with $19.8 million for the prior year quarter, a 16.7% decrease.  The decrease in expense was primarily due to benefits from an accelerated plan contribution of approximately $180 million made in March 2011 and good pension plan asset performance in the U.S. in 2010.  Grace expects the accelerated contribution to lower 2011 defined benefit pension expense by approximately $10 million.

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Interest

Interest expense was $10.4 million for the first quarter compared with $9.9 million for the prior year quarter.  The annualized weighted average interest rate on pre-petition obligations for the first quarter was 3.5%.

Income Taxes

Income taxes are recorded at a global effective tax rate of approximately 32% before considering the effects of certain non-deductible Chapter 11 expenses, changes in uncertain tax positions and other discrete adjustments.

Grace has not been required to pay U.S. Federal income taxes in cash in recent years since available tax deductions and credits have fully offset U.S. taxable income.  Income taxes in foreign jurisdictions are generally paid in cash.  Grace expects to generate significant U.S. Federal net operating losses upon emergence from bankruptcy.  Income taxes paid in cash, excluding tax settlements, were $8.9 million for the first quarter, or approximately 11% of income before income taxes.  In addition, Grace paid $15.0 million to settle certain state income tax matters related to the 1990-1999 tax years.

Cash Flow Performance Measure

Adjusted Operating Cash Flow (see note A) was $20.9 million for the first quarter compared with $27.2 million in the prior year period.  The decrease in cash flow was primarily due to increased net working capital to support higher sales volumes, partially offset by the resulting increase in earnings.  Capital expenditures for the first quarter were $23.4 million compared with $17.9 million for the prior year period.  Net working capital days were 61 days for the first quarter, compared with 54 days in the prior year quarter and 53 days in the 2010 fourth quarter.

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Chapter 11 Proceedings

On April 2, 2001, Grace and 61 of its United States subsidiaries and affiliates, including its primary U.S. operating subsidiary W. R. Grace & Co.—Conn., filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) in order to resolve Grace’s asbestos-related liabilities.

On January 31, 2011, the Bankruptcy Court issued an order confirming Grace’s Joint Plan of Reorganization (the “Plan”).  The confirmation order must next be affirmed by the United States District Court.  The District Court has scheduled a hearing for June 28, 2011 for oral argument on appeals to the confirmation order.  The timing of Grace’s emergence from Chapter 11 will depend on affirmation of the Plan by the District Court and the satisfaction or waiver of the other conditions set forth in the Plan, including the resolution of any further appeals.  Grace is preparing to consummate the Plan as quickly as practicable.  The Plan sets forth how all pre-petition claims and demands against Grace will be resolved.  See Grace’s most recent periodic reports filed with the SEC for a detailed description of the Plan.

Investor Call

Grace will discuss these results during an investor conference call and webcast today starting at 11:00 a.m. ET.  To access the call and webcast, interested participants should go to the Investor Information — Investor Presentations portion of the company’s website, www.grace.com, and click on the webcast link.

Those without access to the Internet can listen to the investor call by dialing +1.866.700.5192 (international callers dial +1.617.213.8833) and entering conference ID #11358087.  Investors are advised to access the call at least ten minutes early in order to register.  An audio replay will be available from 2:00 p.m. ET on April 26 until 11:59 p.m. ET on May 3.  The replay will be accessible by dialing +1.888.286.8010 (international callers dial +1.617.801.6888) and entering conference call ID #59597526.

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Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide range of industrial applications; sealants and coatings for food and beverage packaging, and specialty chemicals, additives and building materials for commercial and residential construction. Founded in 1854, Grace has operations in over 40 countries. For more information, visit Grace’s web site at www.grace.com.

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This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues” or similar expressions. Forward-looking statements include, without limitation, all statements regarding Grace’s Chapter 11 case; expected financial positions; results of operations; cash flows; financing plans; business strategy; budgets; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. For these statements, Grace claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: developments affecting Grace’s bankruptcy, proposed plan of reorganization and settlements with certain creditors, the cost and availability of raw materials (including rare earth) and energy, developments affecting Grace’s underfunded and unfunded pension obligations, risks related to foreign operations, especially in emerging regions, the effectiveness of its research and development and growth investments, its legal and environmental proceedings, costs of compliance with environmental regulation and those factors set forth in Grace’s most recent Annual Report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet at www.sec.gov. Reported results should not be considered as an indication of future performance. Readers are cautioned not to place undue reliance on Grace’s projections and forward-looking statements, which speak only as of the date thereof. Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.

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Consolidated Financial Statements

Chart 1

W. R. Grace & Co. and Subsidiaries

Consolidated Statements of Operations (unaudited)

The Notes to the Financial Information are included as part of the Earnings Release.

Chart 2

W. R. Grace & Co. and Subsidiaries

Analysis of  Operations (unaudited)

Chart 2 (cont.)

W. R. Grace & Co. and Subsidiaries

Analysis of  Operations (unaudited)

Amounts may not add due to rounding.

The Notes to the Financial Information are included as part of the Earnings Release.

Chart 3

W. R. Grace & Co. and Subsidiaries

Consolidated Statements of Cash Flows (unaudited)

The Notes to the Financial Information are included as part of the Earnings Release.

Chart 4

W. R. Grace & Co. and Subsidiaries

Consolidated Balance Sheets (unaudited)

The Notes to the Financial Information are included as part of the Earnings Release.

Chart 5

W. R. Grace & Co. and Subsidiaries

Adjusted Earnings Per Share (unaudited)

The Notes to the Financial Information are included as part of the Earnings Release.

W. R. Grace & Co. and Subsidiaries

Notes to the Financial Information

(A): In the above charts, Grace presents its results of operations by operating segment and for adjusted operations. Adjusted EBIT means net income adjusted for interest income and expense, income taxes, Chapter 11- and asbestos-related costs, net, restructuring expenses and related asset impairments and gains and losses on sales of product lines and other investments.  Adjusted EBITDA means Adjusted EBIT adjusted for depreciation and amortization.  Adjusted Operating Cash Flow means Adjusted EBITDA plus pension expense plus or minus the change in net working capital and specified other assets and liabilities minus capital expenditures.  Adjusted Operating Cash Flow excludes the cash flow effects of income taxes, defined benefit pension arrangements, Chapter 11- and asbestos- related costs, net, and any restructuring or divestment activities.  Grace uses Adjusted EBIT and Adjusted Operating Cash Flow as performance measures in significant business decisions.  Adjusted EPS means Diluted EPS adjusted for restructuring expenses and related  asset impairments, Chapter 11- and asbestos-related costs, net, and certain discrete tax items.  Adjusted EBIT Return On Invested Capital means Adjusted EBIT divided by the sum of net working capital, properties and equipment and certain other assets and liabilities. Adjusted EBIT, Adjusted EPS, Adjusted EBITDA, Adjusted Operating Cash Flow, and Adjusted EBIT Return On Invested Capital do not purport to represent income measures as defined under United States generally accepted accounting principles, and should not be considered as an alternative to such measures as an indicator of Grace’s performance.  These measures are provided to distinguish the operating results of Grace’s current business base from the income and expenses of items related to asbestos and Chapter 11. 

(B): Grace’s segment operating income includes only Grace’s share of income from consolidated and unconsolidated joint ventures. 

(C): Defined benefit pension expense includes all defined benefit pension expense of Grace. Grace Davison and Grace Construction Products segment operating income and corporate costs do not include amounts for defined benefit pension expense. 

(D): Due to its bankruptcy, Grace has had significant intercompany loans between its non-U.S. subsidiaries and its U.S. debtor subsidiaries that are not related to its operating activities.  In addition, Grace has accumulated significant cash during its bankruptcy.  The intercompany loans are expected to be paid when Grace emerges from bankruptcy, and excess cash balances are expected to be used to fund a significant portion of Grace’s emergence from bankruptcy.  Accordingly, income and expense items related to the intercompany loans and the cash balances are categorized as Chapter 11- and asbestos- related costs, net. 

NM — Not Meaningful