Media Release Corporate 17/03/2005

Borealis increases European polyolefins prices

Borealis announced today that it will increase the price of its polyethylene and polypropylene plastics in Europe by EUR 70 and EUR 50 per tonne respectively as of April 1, 2005.

"Recently we have seen substantial pressure on margins. These price increases are necessary to alleviate this situation and are supported by a strong demand outlook for the second quarter," says David Rolph, Executive Vice President, Polyolefins Business Group.

END

Borealis and Borouge are leading providers of innovative, value creating plastics solutions. With more than 40 years of experience in polyolefins and using our unique Borstar® technology, we focus on the infrastructure, automotive and advanced packaging markets across Europe, the Middle East and Asia. Our production facilities, innovation centres and service centres work with customers in more than 170 countries to provide the materials that make an essential contribution to society and sustainable development. We are committed to the principles of Responsible Care® and to leading the way in 'Shaping the Future with Plastics'™.

For more information on Borealis and Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company, visit www.borealisgroup.com and www.borouge.com.

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