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Hexion Specialty Chemicals To Raise Prices For Versatic Acids and Derivatives

August 31, 2006 at 4:26 PM EDT

COLUMBUS, Ohio - (August 31,2006) - Hexion Specialty Chemicals announced today it will increase the prices of its Versatic Acids and their derivatives (VeoVaTM and CarduraTM) globally effective October 1 or as contract terms allow.

The following price increases will apply:

  • all Versatic Acid grades by 150 Euro/mt or 200 USD/mt (equaling 9 cents per pound)

  • all VeoVa grades by 150 Euro/mt or 200 USD/mt (equaling 9 cents per pound).

  • all Cardura grades by 200 Euro/mt or 260 USD/mt (equaling 12 cents per pound)

"This price increase is necessary to recover margin after an extended period of high feedstock costs and is supported by the increasingly strong demand for our products", said Jorrit Klaus, Vice-President, Versatics.

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:
Jorrit Klaus
Vice President, Versatics
31 10 295 4161

Peter Loscocco
Vice President, Public Affairs
614-225-4127