June 2, 2006 – Basell completed the sale of the Components business and Custom Catalyst assets located at the company’s Edison, NJ (US) site to W. R. Grace.  The assets are part of the Polymerization Catalysts and Components (PC&C) business that Basell acquired from Akzo Nobel in March of this year.

According to the asset purchase agreement, W. R. Grace will acquire the assets associated with the components distribution business that are used for the preparation of titanium and vanadium-based compounds and titanates. The transaction also includes a custom catalyst plant which is currently used to toll manufacture polyethylene catalyst systems. Basell will retain ownership of the Edison Supported Catalyst plant and site infrastructure, and provide services to W. R. Grace so they can operate the purchased assets located at the site.

“Asset loading is critical to the cost position of the site,” said Just Jansz, president of Basell’s Technology Business. “By selling these assets to W.R. Grace, and sharing use of site infrastructure, each company can independently develop their most important strategic businesses in a mutually beneficial way. This is in the best interest of the businesses, the Edison site, its employees and our customers.”

Jansz added, “We acquired the PC&C business from Akzo to better ensure long-term security of supply for our catalyst customers. The Edison Supported Catalyst plant, which we will continue to own and operate, provides the capacity we need to supply existing and future Avant catalyst customers worldwide.”

Greg Poling, President of Grace’s Davison Chemicals operating segment, said, “We are pleased that we could reach an agreement with Basell to obtain assets important to our strategy in the polyolefin industry. We welcome the Basell employees to the Grace organization and appreciate the expertise they’ll bring as we integrate this business into our Specialty Catalysts business and global manufacturing organizations to provide enhanced service to our customers.”

Basell is the world's largest producer of polypropylene and advanced polyolefin products, a leading supplier of polyethylene and catalysts, and a global leader in the development and licensing of polypropylene and polyethylene processes. Basell, together with its joint ventures, has manufacturing facilities around the world and sells products in more than 120 countries. Additional information about Basell is available at www.basell.com.

Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; specialty chemicals, additives and materials for commercial and residential construction; and sealants and coatings for food packaging. With annual sales of more than $2.5 billion, Grace has about 6,400 employees and operations in nearly 40 countries. For more information, visit Grace’s web site at www.grace.com.

For more information contact:

For more information contact Michelle Harrell, Basell Corporate Communications, at
+1 410 996 1366, +1 302 438 6574 or michelle.harrell@basell.com