Brussels, Belgium, March 14, 2003 -- Basell announced today that it is increasing the market price for all grades of polyethylene and polypropylene sold in Europe by € 150 per tonne effective April 1st.

“Basell is taking this step largely due to the continued increases in feedstock costs,” said Robert Genin, President, Volume Business Europe.  “If feedstock costs go higher, we may decide on further price increase for our products.”
 
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 Wilmington, Delaware. 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.

For additional information Isabelle Trocherie of Basell’s Corporate Communications Department at +33 6 80 47 80 23 or isabelle.trocherie@basell.com.