International Specialty Products Acquires Oilfield Chemicals Business, Techwax LTD


WAYNE, N.J. - December 19, 2006 - International Specialty Products (ISP, Wayne, New Jersey, USA) today announced that, through one of its subsidiaries, it has acquired the business of UK-based oil field chemicals manufacturer, Techwax LTD ("Techwax"). Established in 1991, Techwax is a leading manufacturer of a broad line of chemicals utilized in the oilfield services sector for drilling mud, oil production and oil well stimulation applications. The company markets its products worldwide to the major oil field services companies.

Philip Strenger, ISP Sr. Vice President, commenting on the acquisition, stated: "This acquisition is a strategic addition to the capabilities ISP has in specialty products for the oil field industry, and greatly enhances the scope of products that ISP can offer."

International Specialty Products Inc. (ISP) is a leading global supplier of specialty chemicals and performance-enhancing products for a wide variety of personal care, pharmaceutical, food, beverage and industrial applications. ISP produces more than 400 specialty chemicals which it markets and sells worldwide. The company's headquarters is located in Wayne, New Jersey, USA.

Contact for Europe

Philip Strenger,

SVP, EMEA Region

+49 (2236) 9649 269

Pstrenger@ispcorp.com

Contact for Rest of World

Anthony Giorgio,

Vice President, Corporate Development

973-628-3813

Agiorgio@ispcorp.com

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