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The Company Successfully Started Up Its First Chemical PlantDecember 29, 2004

BASF-YPC Co. Ltd. has produced its first chemical product: methyl acrylate. The successful start-up of the methyl acrylate plant on December 22, 2004, marked the mechanical completion of the integrated petrochemical site as scheduled by end of 2004.

"This was the ambitious goal which BASF and SINOPEC set jointly when they established the joint venture in 2000," stated Dr. Bernd Blumenberg, President of BASF-YPC Co. Ltd. "Thanks to the outstanding efforts of our dedicated employees and thousands of hard-working contractors, we have been able to successfully achieve this target. Our current aim is to start up all 10 plants safely by mid-2005."

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