Albemarle Raises Price of FCC Catalysts

BATON ROUGE, La., Nov. 30 /PRNewswire-FirstCall/ -- Albemarle Corporation will increase globally the price of its fluidized catalytic cracking (FCC) catalysts to a minimum of US $2,700 per metric ton effective January 1, 2007, or as contracts allow.

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Albemarle is a leading global developer and supplier of petroleum refining catalysts, additives and services for hydroprocessing and FCC units, including operations that convert heavier, more challenging feedstocks into higher value products that meet strict global fuel quality and environmental standards.

"Our FCC catalyst products add substantial value to our refining customers' operations," said Harm Scheepstra, Albemarle division vice president of FCC catalysts. "Considering the value these products deliver to our customers, FCC catalysts have been undervalued over the last 10 years. To continue the R&D efforts required to develop new technologies and catalysts needed by the marketplace, the price of our products must be brought in line with their value for the market."

Albemarle Corporation, headquartered in Richmond, Virginia, is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; construction and packaging materials. The Company operates in three business segments-Polymer Chemicals, Catalysts and Fine Chemicals, and serves customers in approximately 100 countries. Learn more about Albemarle at http://www.albemarle.com/.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.