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Hexion Specialty Chemicals to Raise Prices for Base Epoxy

February 20, 2006 at 1:31 PM EST

COLUMBUS, Ohio--(BUSINESS WIRE)--Feb. 20, 2006--Hexion Specialty Chemicals announced today it will increase the prices of its base epoxy resins in Asia effective March 1.

Hexion will increase prices for liquid and solid resin grades as well as the mainstream solution grade by 100 USD/mt in the Asia, Middle East and Africa regions. In Korea, prices will be increased by 150 USD/mt.

"Since the beginning of the year, the costs for BPA (bisphenol A) and ECH (epichorohydrin), the key raw materials for epoxy resins, have been increasing significantly. The resin price increases we are announcing today are necessary to recover the associated cost increases in our resins. The tight supply situation of ECH will remain an issue going forward," said Lars Boetje, Business Manager, Base Epoxy Resins & Intermediates - Asia.

About Hexion Specialty Chemicals, Inc.

Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Additional information is available at www.hexion.com.

Contact:
Lars Boetje
Business Manager, Base Epoxy Resins & Intermediates-Asia
+86 21 3318 4800
lars.boetje@hexionchem.com

Peter Loscocco
Vice President, Public Affairs
+1 614 225 4127
peter.loscocco@hexionchem.com