MEGlobal Announces ACP for February 2007

Dubai, U.A.E.—January 10, 2007

MEGlobal announced its February Asian Contract Price (ACP) for monoethylene glycol (MEG) of US$930/MT CFR Asian main ports. In making this announcement, MEGlobal offered the following observations on the current market situation. MEG demand has remained quite steady since last November, and current polyester production continues to operate at a healthy level. MEGlobal believes MEG inventories in Asia remain at low levels. Over the past several weeks, spot MEG prices in China have reflected these market conditions.

On the supply side, all facilities in the MEGlobal supply network are currently operating normally.

About MEGlobal
MEGlobalâ„¢ is a world leader in the manufacture and marketing of merchant monoethylene glycol and diethylene glycol (EG). Established in July 2004, the company is a joint venture between The Dow Chemical Company and Petrochemical Industries Company of Kuwait, and is headquartered in Dubai, United Arab Emirates. MEGlobal produces approximately 1.0 million metric tonnes of EG per year, and markets 3.5 million metric tonnes of EG per year. With approximately 200 employees worldwide, MEGlobal serves customers around the world, and has production facilities in Fort Saskatchewan and Red Deer in Alberta, Canada. EG is used as a raw material in the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products.

For Editorial Information:

Virginia A. Diploudis
MEGlobal, Switzerland
+41 44 728 2917