Songwon announces introduction of new products

Ulsan, Korea, June 12, 2007 – Songwon Industrial Co., Ltd. announced today the introduction of a series of new products, which are specifically designed for the Polyolefins and Compounding markets. The products are commercially available for immediate shipment. Songwon will be showcasing these new products at K 2007.

The new products are:

* Songnox 1290, a phenolic antioxidant

* Songnox 6280, a high performance, hydrolytically stable phosphite antioxidant

* Songsorb 2908 and Songsorb 7120, two benzoate UV Absorbers

* Songnox DSTDP, Songnox DLTDP and Songnox 4120, three thioester based antioxidants

We are now the only company able to offer both the benzoates used by the industry as well as the most complete range of thioesters.

We are particularly proud of the ability of our R&D and technical people to develop these new products efficiently and with the highest quality standards. A good example is Songnox 1290, which, leveraging our competences on phenolic antioxidants, has been brought to the market very quickly. In addition, as usual in Songwon, we are also trying to anticipate the market trends and requirements: a good example of this is our Songnox 6280, an hydrolytically improved version of Songnox 6260 with hydrotalcite. We have decided that our product will use hydrotalcite based on fats of vegetable origin only, knowing how sensitive the market is to the use of animal based fats.

Jongho Park, Chairman and CEO of Songwon Industrial Co., Ltd. commented, “We are showing our continuous focus and commitment to the Polymer Stabilizers business and to the implementation of our new strategic approach to the market. After having successfully started up our new world scale antioxidants plant and having established our direct presence in the market, we are now focusing on expanding our product offering. We want to make sure that our customers not only can rely on Songwon as a major producer of essential antioxidants, but that they also have in Songwon a partner able to respond to all their needs and requests for products.”

Park concludes: “This is only the first step in the completion of our product offering and we expect to be able to announce further additions in the coming months which will also be featured at the K 2007, stand no C79 in hall 6.

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