Rogers Corp. Files 8-K and Projects Record Second Quarter Sales and Record
Full-Year Earnings

    ROGERS, Conn.--(BUSINESS WIRE)--June 29, 2006--Rogers Corporation
(NYSE:ROG) today announced that it is filing a Form 8-K with the
Securities and Exchange Commission (SEC), reporting a potential
non-cash asset impairment charge involving the Company's Other Polymer
Products reporting segment. This reportable segment, which comprised
12% of net sales in 2005, includes four operating units: elastomer
components, polyolefin foams, polyester-based laminates, and non-woven
composite materials.
    Due to recent market and customer developments, Rogers believes
that the future outlook of the Company's polyolefin foams and
polyester-based laminates operating units has changed from previous
expectations. As a result, it was determined that these events qualify
as indicators of impairment under generally accepted accounting
principles (GAAP) and that the assets associated with these two
operating units may require a non-cash impairment charge, which could
affect the Company's second quarter 2006 GAAP earnings. The vast
majority of the polyolefin foam unit's assets were impaired during
2005 when the Company significantly restructured this business and
scaled down the unit's market focus. However, due to unforeseen recent
competitive developments, the profitability and viability of the
business appear more questionable in the long term than originally
forecast in 2005.
    The polyester-based laminates unit includes shielding materials
used mostly in the cable industry. The cable market has been affected
by rising raw material prices, especially copper. In addition, it now
appears that certain new higher margin non-cable applications, which
would further diversify the heavily concentrated commodity cable
product business, will take longer to come to fruition than originally
planned. Consequently, the Company expects these events to unfavorably
impact future sales and profit forecasts.
    The polyolefin foam and polyester-based laminates operating units
currently have long-lived assets and goodwill of approximately $16
million, of which approximately $11 million represents residual
goodwill. The exact amount of any impairment charge will not be known
until a full assessment is completed by the Company with the
assistance of an independent third-party valuation specialist. The
Company will disclose such amount or range when it has been
determined.

    Second Quarter Guidance

    The Company also announced that, excluding any aforementioned
non-cash impairment charges, it now expects both sales and non-GAAP
earnings to be above previous guidance ranges and at record levels for
the second quarter of 2006. Rogers now projects second quarter net
sales to be $101 to $103 million compared to the April 20, 2006,
guidance of $97 to $100 million. Non-GAAP earnings for the second
quarter, excluding any impairment charges, are projected to be $0.69
to $0.72 per diluted share versus previous guidance of $0.63 to $0.67
per diluted share.
    The Company cannot at this time reconcile the non-GAAP financial
measures to the most directly comparable GAAP financial measures, as
the potential impairment charges resulting in the non-GAAP financial
measures are not known to the Company at this time.
    Robert D. Wachob, President and CEO, commented, "Outside of any
potential GAAP impairment adjustments, we are extremely pleased with
the overall expected results for this quarter, which is usually slower
than the third and fourth quarters of the year. The
higher-than-expected second quarter operating results are due to sales
leverage, continued market penetration, and improved execution in our
worldwide strategic operations. Any impairment adjustment related to
our Other Polymer Products segment correlates with our continued
emphasis on structuring our businesses in line with our long-term
strategic interests. Additionally, even after the impairment charge,
we expect record sales and GAAP earnings for 2006."
    Rogers Corporation, headquartered in Rogers, CT, U.S.A., develops
and manufactures high-performance specialty material based products,
which serve a diverse range of markets including: portable
communication devices, communication infrastructure, consumer
products, computer and office equipment, ground transportation, and
aerospace and defense. Rogers operates manufacturing facilities in
Connecticut, Arizona, and Illinois in the U.S., in Gent, Belgium, in
Suzhou, China, and in Hwasung City, Korea. Sales offices are located
in Belgium, Japan, Taiwan, Korea, China, and Singapore.

    Safe Harbor Statement

    Statements in this news release that are not strictly historical
may be deemed to be "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management's current
expectations and are subject to the many uncertainties that exist in
the Company's operations and environment. These uncertainties, which
include economic conditions, market demand and pricing, competitive
and cost factors, rapid technological change, new product
introductions, legal proceedings, and the like, are incorporated by
reference in the Rogers Corporation 2005 Form 10-K filed with the
Securities and Exchange Commission. Such factors could cause actual
results to differ materially from those in the forward-looking
statements. All information in this press release is as of June 29,
2006, and Rogers undertakes no duty to update this information unless
required by law.

    CONTACT: Editorial and Investor Contact:
             Rogers Corporation
             Edward J. Joyce, 860-779-5705
             Fax: 860-779-5509
             E-mail: edward.joyce@rogerscorporation.com
             Rogers' Web site: www.rogerscorporation.com