Brussels, Belgium – January 16, 2004 – Basell announced today that it is increasing the price on all grades of its polypropylene and polyethylene products sold in Europe by €100 per tonne effective February 1.

“This increase is necessary following the recent settlements of monomer contracts at strongly increased price levels compared to the end of last year,” said Robert Genin, president of Basell Polyolefins Europe.

Basell is a leading producer of polypropylene, polyethylene, advanced polyolefins and polyolefin catalysts, and also develops and licenses polyolefin processes. Basell, including its joint ventures, has sales in more than 120 countries. The Basell corporate centre is in Hoofddorp, The Netherlands, and the company has regional offices in Brussels, Belgium; Mainz, Germany; Elkton, Maryland, USA; Hong Kong, and Sao Paulo, Brazil. The company’s Internet address is www.basell.com.

For additional information, contact:

• Michel Julien, senior vice president, Strategy Development, Basell Polyolefins Europe, at + 32 2 715 8124 or michel.julien@basell.com
• Michelle Talmo, Basell’s Corporate Communications, at +1 302 438 6574, +1 410 996 1366 or michelle.talmo@basell.com