Brussels, Belgium, July 11, 2003 -- Basell announced today a € 100 per tonne increase for all its polyethylene and polypropylene grades in Europe. This increase is to take effect no later than September 1.

"This is necessary to restore margins to satisfactory levels after the prices of polyolefin products fell abruptly during May and June following a sharp fall in demand said Michel Julien, senior vice president, Strategic Development, Polyolefins Business Europe.

Basell develops, produces and markets polypropylene, polyethylene, advanced polyolefin materials and polyolefin catalysts, and also develops and licenses polyolefin processes. Basell's corporate centre is located in Hoofddorp, The Netherlands; the company has regional offices in Elkton, Maryland. USA; Brussels; Mainz, Germany; Sao Paulo, Brazil, and Hong Kong, as well as manufacturing facilities and sales offices in the major markets around the globe. Basell’s Internet address is www.basell.com.

For additional information contact Michel Julien of Polyolefins Business at +32 475706478 or michel.julien@basell.com