AOC Amends January 1, 2005 Increase and DSM Makes Additional Resin Price Increase

17 December 2004

AOC wish to amend the November 30, 2004 resin price increase of US$.06/lbs as this did not specifically address Vinyl Ester resin needs.

AOC will increase prices by US $0.10 per pound on all Vinyl Ester resins sold in the United States and Canada shipped on or after January 1, 2005

Vinyl Ester key ingredients, such as Bisphenol A, MMA, methacrylic acid and epoxy resin have all increased at a pace exceeding that of polyester resin ingredients, and some Vinyl Ester raw materials are in short supply. Therefore it is necessary to implement this amended increase announcement.

DSM Composite Resins, Europe’s largest unsaturated polyester resin producer, is increasing the prices of all its unsaturated polyester resin and gelcoat products by EURO 100/ton as of January 1, 2005.

Gertjan de Koning, Business Director DSM Structural Resins Europe, states that the prices for glycols and maleic increased substantially. Eventually the prices will stabilize but we expect this to be at a structurally higher level.