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Hexion Specialty Chemicals to Raise Prices Globally For Phenolic Resins and Moulding Compounds

December 6, 2007 at 12:00 AM EST

COLUMBUS, Ohio – (December 6, 2007) – Hexion Specialty Chemicals, Inc. announced today that it will increase the global prices of its Phenolic Resins and Moulding Compounds effective January 1, 2008, or as contract terms allow. Price increases include: Solid Resins, 110 euros/MT; Liquid Resins (distilled), 90 euros/MT; Liquid Resins (undistilled), 60 euros/MT; and Moulding Compounds, 50 euros/MT.

Continued tight supply of key raw materials, compounded by the escalation of key raw material costs, make this price increase necessary and ensure continued supply to our customer base, the company said.

About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals 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. Hexion Specialty Chemicals is owned by an affiliate of Apollo Management, L.P. Additional information is available at www.hexion.com.

Contact:
Thomas O'Shaughnessy
Business Manager, Industrial Resins
502-560-5200
thomas.oshaughnessy@hexion.com

Pat Colclough
Regional Manager, Phenolics
+44 (0) 845 310 9200
pat.colclough@hexion.com

Peter Loscocco
VP, Public Affairs
614-225-4127
peter.loscocco@hexion.com

John Kompa
Director, Investor Relations
614-225-2223
john.kompa@hexion.com

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