(24/11/2004) Important Change in Tessenderlo Chemie 's Shareholdership

Brussels, 24 November 2004 EMC Parbel NV, subsidiary of the French public group EMC and Tessenderlo Chemie's main shareholder, announced this morning it launched a private placement of a major part of its 43,66 % stake in the capital of Tessenderlo Chemie NV. This operation has the intention to sell between 15 % and 17,25 % of the share capital. The offer is structured as an accelerated book building placement to institutional investors in Belgium and abroad. The French government announced its intention to acquire the residual stake, held by EMC Parbel NV in Tessenderlo Chemie NV at the end of the previously mentioned operation, taking into account the planned liquidation of EMC in 2005. This residual shareholdership will consequently be transferred within the public sector by contribution in kind of shares to SNPE, a 99,9 % French state owned company. The French state committed itself to lock up shares of Tessenderlo Chemie NV directly or indirectly during a period of 12 months. This commitment will be taken over by SNPE. These modifications will enable Tessenderlo Chemie NV to increase significantly its free float. Tessenderlo Group is an international chemicals group with 115 branches in 22 countries. Around 8,300 people work for the group, 2,200 of whom are located in Belgium. The company's consolidated turnover totalled 1,972 million EUR in 2003, from its five main areas of business (inorganic chemicals, fine chemicals, PVC, plastics converting, natural organic products). The group is a European and world leader in most of its product areas. Tessenderlo Chemie NV is listed on Euronext Brussels and is part of Next 150 and NextPrime . Website: www.tessenderlogroup.com This press release is available - in Dutch, English and French - on the Web site www.tessenderlogroup.com - under 'News' and 'Investor Relations' For further information, please contact: Mrs. Geert Dusar, Manager Corporate Communication, tel +32 2 639 17 75 Website: http://www.tessenderlogroup.com - see Corporate - News © CompanynewsGroup