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Ashland Completes Purchase of Derakane Epoxy Resin Business from Dow

16 January 2005

Ashland Composite Polymers has completed its purchase of the Derakane epoxy vinyl ester resin business (which includes the Derakane MOMENTUM product line) from The Dow Chemical Company.

The purchase includes all technology and intellectual property assets associated with the DERAKANE resin business. No physical assets will transfer to Ashland. The cash transaction is valued at approximately $90 million (USD). Annual sales of Derakane resins are approximately $70 million (USD).

""This important addition to our thermoset resins portfolio expands Ashland's leadership in providing integrated systems and technology solutions with superior value to our customers,"" said Theodore ""Ted"" L. Harris, vice president, Ashland Specialty Chemical, and general manager, Composite Polymers. ""We are committed to working with Derakane customers to ensure a smooth transition.""

Derakane resin products and technologies are for us in fibre-reinforced plastics applications requiring improved corrosion resistance and structural strength. The new Deaakane products will add increased breadth to Ashland's broad product line of gel coats, low profile additives and polyester and vinyl ester resins.