Press release

To: ICIS (ICIS.com / ICIS news)
Att: Mr. Will Conroy

Dear Mr. Will Conroy,

Hereby Oltchim is protesting against the releases made by you, as author, in ICIS.com on March 16, 17 and 23, 2009 related to the situation of Oltchim and the statements made by PCC, which is a minority shareholder of Oltchim, but mainly the owner of our competitor PCC Rokita.

After the releases made by you, as author, in ICIS.com on March 16 and17, 2009, you have sent us a list of questions to answer. You have received our answers, as well as a media release of Oltchim, on March 20, 2009.

It was an unpleasant surprise for us to read the media release in ICIS.com referring to Oltchim in March 23, 2009. We have observed that, while being very selective with our statements, you have being very permissive with the ones of PCC. While you have mentioned only very minor part of our statements, which, in whole, may be proved entirely, being based on real facts, you have mentioned the statements of PCC, without a minor verification on the accuracy of said statements.

Thereto, we need to make you aware on the fact that in March 11, 2009, the owner and President of PCC SE, Waldemar Preussner, has declared in the Polish media that PCC is having no intention to invest in Romania, nor to acquire Oltchim (see attached copy).

Also, we have to inform you that PCC SE has made no investment in Oltchim, not even of one (1) EUR. The statement of Wojciech Zaremba that PCC has “invested dozens of millions of euros” in Oltchim is a false statement. We are disappointed about the fact that you have verified our statements with Wojciech Zaremba prior to mention them, but you have not verified with us the ones of Wojciech Zaremba. The only effort of PCC related to Oltchim was the one to buy 1% of its shares, which became 12.3% as a result of a share capital decrease of Oltchim in 2007, with no other financial effort for PCC.

We hope that ICIS being a “Trusted market intelligence for the global chemical and energy industry”, this reputable institution will release in the future only statements based on true, verified and reliable information and will keep itself out of any litigations between any company and its hostile shareholders.

Please be advised that this protest letter will be listed also on our home web page, for proper information of our partners, shareholders and investors.

Yours sincerely,

Constantin Roibu
President & CEO