Nell Acquisition S.a.r.l.                                                                                                        Basell

Press Release

Luxembourg / Hoofddorp, The Netherlands - June 23, 2005

1. Anticipated New Capital Structure for Acquisition of Basell

Nell Acquisition S.a.r.l. (“Nell”) anticipates closing the transaction to acquire Basell toward the end of July 2005, provided all necessary regulatory approvals are obtained by then. Upon completion:
· Nell intends to finance the acquisition through a combination of approximately 80% debt and 20% equity.
· Nell plans substantial refinancing of all of Basell’s existing indebtedness except for certain limited bilateral arrangements in specified countries and Basell’s 8.1% notes due 2027.
· Nell is reviewing its options and is considering prefunding, redeeming, defeasing or tendering for the Basell’s 7.6% notes due in 2007. 

2. Basell Announces Q1 EBITDA for 2005 and 12 Months EBITDA to 31st March

Basell has advised Nell that unaudited Q1 2005 EBITDA are approximately €230 million and that for the prior 12 months, ending 31 March 2005, EBITDA are approximately €690 million.  Unaudited numbers are on a US GAAP basis.

Notes
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.

For information about Nell Acquisition S.a.r.l. contact:
· John Stonborough, media contact UK, at +44 7771 893 683 jsmediaco@aol.com

For information about Basell contact:
· Nick Nagurny at +1 215 682 7090, +1 302 521 2456 or nick.nagurny@basell.com  or Michelle Harrell at +1 410 996 1366, +1 302 438 6574 or michelle.harrell@basell.com

This announcement is not an offer for sale of securities in the United States. The securities referred to herein may not be sold in the United Stares absent registration or an exemption from registration under the US Securities Act of 1933, as amended. Access Industries does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.  Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.