Change in the Management Board of Vinnolit

Dr Josef Ertl, currently head of Vinnolit's thermoplastics business unit will join the management board on June 1, 2001. At the same time, Dr Bernhard Hofmann, managing director of Vinnolit for more than three years, will be joining Degussa AG, where he will be the head of the divisional board of Construction Chemicals (sales in 2000: DM 3.3 billion). From June 1, 2001, the management board at Vinnolit will therefore be composed of Dr Josef Ertl and the current Managing Director Hans-Jürgen Zippel. Both report to Dr Hans Seidl of Advent International in his capacity as chairman of the supervisory board. Dr Bernhard Hofmann has been offered a position on Vinnolit's supervisory board.

Vinnolit GmbH & Co. KG has initiated major restructuring measures in recent years and meanwhile completed most of them. A former PVC joint venture between Hoechst and Wacker, Vinnolit secured its long-term competitiveness by integrating its key raw materials chlorine and VCM, and by additionally implementing its technology for producing S-PVC. In the year 2000, Vinnolit was taken over by an investment fund advised by Advent International. Advent has established the preconditions for success in the future by simultaneously purchasing the raw materials manufacturer Vintron, whose major investment to triple VCM capacity at Knapsack is due to come on stream at the end of this year.

Vinnolit's results for fiscal 2000 fully met the financial and income targets set by the new owner, Advent. The results for the first few months of 2001 confirm the company's capacity for sustained growth.

With production of 570 kt/a, Vinnolit is the largest German producer of PVC and the number four in Europe. Its activities are geared towards the market segments of S-PVC processing, high-impact products and the markets for PVC pastes and extenders.

Advent International is a leading private equity firm that advises institutional funds. Founded in 1984, it has total investments of over US$ 5 billion under management and maintains offices and consultants in 19 countries. Advent has financed more than 400 companies in a variety of industries worldwide.

Contact:Management Board Vinnolit
 Tel.: +49/89/96 103-207/-211
 Fax.: +49/89/96 103-122