BASF to Acquire Resins Specialist Johnson Polymer

-- Acquisition of a profitable and innovative business with high growth rates

-- Addition of water-based technology complements BASF's coating resins portfolio

-- Strengthens global presence with focus on North America

BASF, Ludwigshafen, Germany, today (May 2, 2006) announced anagreement to acquire resins manufacturer Johnson Polymer, a subsidiaryof JohnsonDiversey Inc. of Sturtevant, Wisconsin, a U.S. cleaning andhygiene products manufacturer. The respective agreement signed on May1, 2006 provides for a sale price of $470 million on a cash anddebt-free basis. Both companies have agreed not to disclose additionalfinancial details of the deal. The transaction, which is still subjectto approval by the relevant authorities, is expected to close by theend of June 2006. The parties are also seeking the advice of theJohnson Polymer B.V. (Netherlands) works council prior to finalizingthe transaction.

Johnson Polymer is one of the world's leading producers andsuppliers of water-based resins. Resins are important raw materialsfor the production of coatings in the automotive, wood, packaging andprinting industries. Johnson Polymer's water-based product rangecomplements BASF's existing portfolio, which concentrates mainly onhigh-solids and UV resins.

The global market for water-based resins is growing at an averageof 5 percent per year. In recent years, Johnson Polymer has grownfaster than the market and has been profitable. Roughly 60 percent ofsales, which were approximately $360 million in 2005, are generated inNorth America. Johnson Polymer has 430 employees and operates twoproduction sites in the United States and one in the Netherlands, aswell as technical centers and offices in Asia Pacific.

"This transaction is a further important step in strengtheningBASF's technology and innovation driven specialty business withperformance products. The deal will further improve BASF's position ina profitable, fast-growing business and open up new areas forinnovation," said BASF Board member Dr. Andreas Kreimeyer. "Theacquisition of Johnson Polymer expands our high-growth coating resinsbusiness. We are supplementing our expertise in this area withwater-based technologies from a customer-focused company with a highlyqualified team," added Patrick Prevost, President of BASF'sPerformance Chemicals division. At the same time, BASF will strengthenits market presence, particularly in North America, and will thereforebe able to offer its customers a wider range of technologies from astronger regional base.

"JohnsonDiversey Inc. is pleased to sell this business unit to acompany with a strong culture and attention to employees," saidcompany Chairman S. Curtis Johnson. "I've been impressed with theemployee focus of BASF," Mr. Johnson said, "and I'm hopeful this willcreate new opportunities for our world-class Polymer employees."

JohnsonDiversey President and CEO Edward Lonergan said that thedivestiture represents an important step in refocusing on thecompany's core business in the commercial cleaning and hygiene market."The sale of our Polymer business will give us the financialflexibility to pursue new opportunities for growth in our corebusiness," said Mr. Lonergan. "This is a critical component of ourrestructuring program. We're pleased the acquisition of Polymer isstrategic for BASF, allowing us to pursue strategic investments of ourown." He added that JohnsonDiversey intends to use the proceeds fromthe sale to reduce the company's debt.

Johnson Polymer's operations will be integrated into BASF'sPerformance Chemicals division. This division produces and markets abroad range of specialty chemicals worldwide. These products includecolorants and additives, which, like resins, are used for example incoatings applications. In 2005, the Performance Chemicals divisionposted sales of EUR 2.9 billion.

Note: A press photo can be downloaded fromwww.basf.de/pressphotos, search term "performance chemicals."

About BASF

BASF is the world's leading chemical company: The ChemicalCompany. Its portfolio ranges from chemicals, plastics, performanceproducts, agricultural products and fine chemicals to crude oil andnatural gas. As a reliable partner to virtually all industries, BASF'sintelligent system solutions and high-value products help itscustomers to be more successful. BASF develops new technologies anduses them to open up additional market opportunities. It combineseconomic success with environmental protection and socialresponsibility, thus contributing to a better future. In 2005, BASFhad approximately 81,000 employees and posted sales of more than EUR42.7 billion. BASF shares are traded on the stock exchanges inFrankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Furtherinformation on BASF is available on the Internet at www.basf.com.

About JohnsonDiversey

With sales into more than 140 countries, JohnsonDiversey Inc. is aleading global provider of cleaning and hygiene solutions to theinstitutional and industrial marketplace. JohnsonDiversey Inc. servescustomers in the lodging, food services, retail, health care, food andbeverage sectors as well as building service contractors worldwide.