John Hunter, Solutia's Chairman and CEO, noted, "There was nothing new in the '60 Minutes' segment. Instead, it put an exaggerated focus on information from decades ago and on unsubstantiated claims that have already been reported."

Hunter added that, "The costs to clean up PCBs in the Anniston community continue to be manageable. Solutia has spent an average of $30 to $40 million per year on environmental remediation projects company-wide and expects remediation costs to remain at that level."

Since the filming of the segment, a Consent Decree agreement between Solutia and the U.S. government was lodged in federal court on October 23, 2002 and will pave the way for an effective, permanent cleanup. "The agreement is the best, fastest and most certain way to address the community's concerns and solve the PCB issue in Anniston," Hunter said.

This agreement builds on substantial progress already accomplished -- including sampling of more than 1,000 properties, cleanup of all available residential properties needing immediate action, investigation of more than 8,000 acres of land and adjacent waterways, and cleanup of 300 acres of land and a mile of drainage ditches.

Contrary to statements made on "60 Minutes" by a plaintiffs' paid witness, Dr. David Carpenter, there is no consistent, convincing evidence that PCBs are associated with serious, long-term illnesses. Solutia is in support of a planned federal health study of the Anniston community because we believe it will help resolve these issues.

"Bottom line, Solutia believes that the costs of environmental remediation and litigation are manageable," said Hunter. "Others can argue about the past, but we're focused on the future and on cleaning up PCBs in Anniston. We will continue to work with the government and the community to do what's right to complete the cleanup safely and responsibly so the community can move forward."

For additional information, please refer to our website at www.Solutia.com/Anniston.

Corporate Profile

Solutia (http://www.Solutia.com) uses world-class skills in applied chemistry to create value-added solutions for customers, whose products improve the lives of consumers every day. Solutia is a world leader in performance films for laminated safety glass and after-market applications; resins and additives for high-value coatings; process development and scale-up services for pharmaceutical fine chemicals; specialties such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibers.