SOLVAY SA announces today that it has signed a final agreement aiming at the sale of its entire Industrial Foils business, active in the production, marketing and sales of plastic foils and sheets to RENOLIT AG. As social procedures were recently carried out, the completion of the agreement with Renolit is expected by the end of 2005, pending approval from competition authorities.

The agreed price for the transaction is EUR 330 million, as previously announced. This proposed transaction does not include Solvay's rigid plastic foils activities, whose sale to Ineos was completed on 8 July 2005.

"The due diligence confirmed the excellent fit between the activities concerned," commented Jacques van Rijckevorsel, General Manager of Solvay's Plastics Sector and Member of the Executive Committee of Solvay. "This also foreshadows a constructive working atmosphere and promise exciting developments for both the activities and the related personnel," he added.

"At Renolit we're all enthusiastic. The acquisition will make us all stronger and give us better performance", said Heinz Gärtner, President of Renolit. "The real added value from this operation is the addition to our know-how and the expansion in our range of products. It's a win-win situation for everybody : the Renolit personnel, the Solvay Industrial Foils personnel and the customers", he emphasized.

The Industrial Foils of Solvay are mainly present in Europe with 9 plants located in 8 countries, but also in the United States with one plant located in Commerce (California) as well as in China and Brazil through ! two join t ventures. The products are intended for a variety of applications, including medical supply, swimming pools, furniture, construction, stationary, automotive, as well as different consumer goods niches. Solvay's Industrial foils generated a total turnover of about EUR 470 million in 2004 with 2 200 employees. The operation would enable the Industrial Foils to join a Group which considers plastic foils as a core development area, and for which the Solvay Industrial Foils activity represents a source for coherent diversification and reinforcement.

RENOLIT A.G. is an international leader in the manufacture of high-quality thermoplastic films for the purpose of surface finishing and for other technical applications. This independent family-run business, which has been setting benchmarks for quality and innovation for over 50 years, now employs a workforce of 2,300 employees at its16 subsidiaries. The Renolit brand enjoys a worldwide reputation for technical expertise, modern product design and customer-orientated service. (www.renolit.com)

SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 30,000 people in 50 countries. In 2004 its consolidated sales amounted to EUR 7.9 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. SOLVAY is listed on the Euronext 100 index of top European companies. Details are available at www.solvay.com.