April 10, 2007 – Poliolefinas Internacionales, C.A. Polinter, an affiliate of Petroquímica de Venezuela, S.A., Pequiven, and other private shareholders, has selected Basell’s Lupotech T technology for a new 300 KT per year low density polyethylene plant that it plans to build in Maracaibo, Venezuela. Start-up is expected in 2011.

“Lupotech T has globally become the technology of choice for the production of LDPE and EVA copolymers and we are very pleased to provide Polinter with the latest, proven world-scale Lupotech T technology” said Just Jansz, president of Basell’s Technology Business. He added, “This is the first new high pressure LDPE plant in the Americas for over a decade, reflecting the consistently growing demand for LDPE in the region.”

The Lupotech T process, which has been licensed by Basell and its predecessor companies since 1969, offers world scale manufacturing economics and a wide range of high quality products. Total licensed annual capacity exceeds 7 million tonnes.

Basell’s portfolio of licensed technologies and associated technical services is comprised of:

• Spheripol – leading polypropylene technology for the production of homopolymer, random and heterophasic copolymers

• Spherizone – latest generation polypropylene technology based on new multi-zone circulating reactor technology

• Spherilene – advanced swing gas phase process for the production of LLDPE, MDPE and HDPE

• Hostalen – leading low-pressure slurry process for the production of bimodal HDPE

• Lupotech T – leading high-pressure tubular reactor process for the production of LDPE and EVA copolymers

• Metocene PP – technology for the production of specialty polypropylene products using single-site catalyst systems

Basell is the global leader in polyolefins technology, production and marketing. It is the largest producer of polypropylene and advanced polyolefin products; a leading supplier of polyethylene and catalysts, and the industry leader in licensing polypropylene and polyethylene processes, including providing technical services for its proprietary technologies. Basell, together with its joint ventures, has manufacturing facilities in 19 countries and sells products in more than 120 countries. Additional information about Basell is available at www.basell.com.

For more information contact Waldemar Oldenburger, Basell Corporate Communications at +49 69 305 854 59 or waldemar.oldenburger@basell.com