Hexion Specialty Chemicals To Raise Prices For Powder Polyester Resins in Europe, the Middle East and Africa

Due to ongoing increases in energy, transportation and feedstock costs, Hexion Specialty Chemicals announced today that it will increase the prices for its Albester® and Albemast® powder polyester resins in Europe, the Middle East and Africa (EMEA). Effective January 1,2008, or as contracts allow, prices will increase by 6 to 8 euro cts/ kg, depending on the product line.

With its powder polyester resins, Hexion is dedicated to providing superior outdoor and indoor durable resin systems with outstanding quality, consistency and special effects capabilities, leading towards lower maintenance costs and an extended life span for finished products. Both Albester® and Albemast® powder polyester resins offer a wide range of applications and are used primarily in the building, agriculture and automotive industries.

About Hexion Specialty Chemicals, Inc.

Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion’s broad range of binding, bonding and coating resins, adhesives and specialty products are used by manufacturers around the world in a diverse range of industries and applications. Hexion had 2006 sales of $5.2 billion and employs more than 7,000 associates. Additional information is available at www.hexion.com.

Contact:
Peter Loscocco
VP, Public Affairs
614-225-4127
peter.loscocco@hexion.com

John Kompa
Director, Investor Relations
614-225-2223
John.kompa@hexion.com