Sherwin-Williams Announces Settlement With the Internal Revenue Service

_ CLEVELAND, Oct. 24, 2011 /PRNewswire/ -- The Sherwin-Williams Company The settlement, which resolves all ESOP related tax issues (including interest), will result in an after-tax charge relating to federal and state incomes taxes totaling approximately $75.0 million ($0.72 per diluted common share) and a reduction in shareholders' equity of approximately $51.2 million in Sherwin-Williams' fourth quarter. These amounts were not included in Sherwin-Williams' previous fourth quarter and full year 2011 earnings guidance. Contacts: Bob WellsSenior Vice President - Corporate Communications and Public AffairsSherwin-WilliamsDirect: 216.566.2244rjwells@sherwin.com Mike ConwayDirector - Corporate Communications and Investor RelationsSherwin-WilliamsDirect: 216.515.4393Pager: 216.422.3751mike.conway@sherwin.com The Sherwin-Williams Company