Ceradyne, Inc. recently announced that its board of directors has approved a 3-for-2 stock split in the form of a 50% stock dividend. The stock dividend will be distributed on January 18, 2005, to stockholders of record as of the close of business on January 10, 2005. Stockholders will receive one additional share for every two shares of common stock owned on the record date. In lieu of receiving fractional shares, stockholders will receive a cash payment based on the closing price of the common stock on the record date, as adjusted for the split. As of December 17, 2004, the company had 16,284,388 shares of common stock outstanding. The stock split will increase the number of shares outstanding to approximately 24,426,582.