Hexion Specialty Chemicals Announces North American Price Increases For Coating Resins

COLUMBUS, Ohio--(BUSINESS WIRE)--June 7, 2006--Hexion Specialty Chemicals announced today it will increase the price of all solvent based and waterborne coating resins in North America effective for all shipments on July 5 or as contracts allow. The price increase includes the following adjustments:

• Solvent borne alkyds and modified alkyds (copolymers, silicone alkyds and related products) will increase by $0.05 - $0.07/lb.
• Oil modified urethanes will increase $0.04/lb.
• Saturated polyester resins will increase by $0.06/lb.
• UV curable resins will increase by $0.06/lb.
• Waterborne alkyds will increase by $0.04/lb.
• Solution acrylic resins will increase by $0.04/lb.
• Styrene acrylic latex emulsions will increase $0.03/lb.

This increase is necessitated by the continued rise in the costs for raw materials, transportation and other factors. Hexion sales representatives will be contacting their customers with specific details.

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:
Mark Walter
Business Manager, Coating Resins - Americas
847-551-4460

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

Source: Hexion Specialty Chemicals, Inc.