Tarragona, Spain, June 27, 2002 – Basell is announcing today the start-up of its new 260 KT polypropylene plant – Tarragona PP III -- at the Tarragona East complex. The world-scale plant manufactures a wide range of homopolymer and heterophasic copolymer grades for diverse markets.

"Production from this state-of-the-art facility will enable Basell to better serve the needs of our customers in Europe and keep pace with the market demands of the region," said Robert Genin, president, Basell Volume Business Europe.

"The addition of this new capacity is consistent with Basell’s commitment to a scrap and build policy with its manufacturing assets," Genin added. "This year we are shutting down or mothballing older, less efficient polypropylene plants in Europe with a capacity of 330 KT. Now, with the European PP market making a comeback from the severe downturn in 2000 and 2001, we are pleased that this highly efficient new plant is on-stream." The plant uses a process based on Novolen technology.

Basell develops, produces and markets polypropylene, polyethylene, advanced polyolefin materials and polyolefin catalysts, and also develops and licenses polyolefin processes. With research and development centres in Europe, North America and the Asia-Pacific region, Basell is committed to continuously extending the property profile of its polyolefins portfolio and to developing with its customers a shared agenda for bringing new products to market as quickly as possible. Basell, including its joint ventures, serves customers in more than 120 countries with materials produced in 18 countries. The company’s Internet address is www.basell.com.