Kuala Lumpur, January 9, 2006 - The OPTIMAL Group of Companies (OPTIMAL), a joint venture involving Petroliam Nasional Berhad (PETRONAS) and Union Carbide Corporation, a wholly owned subsidiary of The Dow Chemical Company (Dow), is pleased to announce the appointment of YM Dato' Tengku Mahamad Tengku Mahamut as its new Chief Executive Officer and Graham Thomas Daley as Chief Operating Officer effective January 2006.

In his new capacity, YM Dato' Tengku Mahamad will be responsible for the overall management of OPTIMAL's world class integrated petrochemical facility located within the PETRONAS Petroleum Industry Complex in Kertih, Malaysia. He will also be responsible for charting the strategic business development and competitive performance of OPTIMAL.

YM Dato' Tengku Mahamad has been an integral part of the OPTIMAL management having held the position of Deputy Chief Executive Officer since November 2002. He takes over from James Ray Fitterling who has taken up a new posting as Dow's Business Vice President, Polyethylene.

YM Dato' Tengku Mahamad has more than 20 years of experience in the industry. Prior to joining PETRONAS in 1998, YM Dato' Tengku Mahamad was attached to Exxon Chemicals where he held numerous technical, sales/marketing and management positions across Exxon Chemicals' worldwide operations in the Polyolefins Business. He is currently a Board Member of several PETRONAS subsidiaries such as MITCO; Aromatics (Malaysia) Sdn Bhd; Polypropylene Malaysia Sdn Bhd; MTBE Malaysia Sdn Bhd; PETRONAS Research and Scientific Services Sdn Bhd; and Kertih Terminal Sdn Bhd.

He is also President of the Malaysian Petrochemical Association (MPA) and serves on the Executive Committee of the Chemical Industries Council of Malaysia (CICM).

Meanwhile, Graham Thomas Daley has been appointed Chief Operating Officer, responsible for the Commercial, Supply Chain as well as Information Technology functions.

Daley joined OPTIMAL in May 2005 as Senior General Manager, Commercial. He began his career with Dow Australia in 1970 in manufacturing, and subsequently worked in the U.S. and in Thailand, where he designed and operated the first plastic resins production plant for that country. His then 20 plus years in commercial in Australia, Hong Kong and Japan have encompassed General Manager for Construction Materials, outside Japan, marketing responsibility for polystyrene for Asia and Commercial Director Asia Pacific for Epoxy Resins. Here he led the acquisition of a business in Korea and the establishment of operation facilities in China. His more recent responsibilities have been for sales of Epoxy Resins and Polyurethanes for Asia Pacific, excluding China, and simultaneously a founding member of Dow's Commercial Leadership Council that leads Dow's worldwide sales and marketing functional activities.

With a wealth of 36 years of experience in the industry, Daley will complement YM Dato' Tengku Mahamad in managing the overall production and profitability of OPTIMAL.

"Our priority is to focus on continued improvement of OPTIMAL's manufacturing and production competencies in order to face challenges arising from heightened competition in the region. OPTIMAL is strongly positioned to face this situation given the clear emphasis on key drivers for our business success which includes people development, value creation, asset utilization as well as ongoing efforts to lower our total cost to serve. Firm emphasis on these key drivers will enable OPTIMAL to build on its track record to achieve its highest potential," YM Dato' Tengku Mahamad said.

About OPTIMAL Group of Companies

The OPTIMAL Group of Companies (OPTIMAL) is a joint venture involving PETRONAS and Union Carbide Corporation, a wholly owned subsidiary of The Dow Chemical Company. The Company serves key markets in the Asia Pacific region from its world-scale petrochemical facility located in Kertih, Terengganu. Established in July 1998, with a total investment of RM5.3 billion (USD1.4 billion), OPTIMAL comprises three companies namely OPTIMAL OLEFINS (MALAYSIA) SDN BHD, OPTIMAL GLYCOLS (MALAYSIA) SDN BHD and OPTIMAL CHEMICALS (MALAYSIA) SDN BHD.

OPTIMAL manufacturers and supplies more than 15 different petrochemical product families and approximately 75 products ranging from basic feedstock of Ethylene and Propylene, to intermediates like Ethylene Oxide, Ethylene Glycol, Butanol and various Ethylene Oxide derivatives. The products also include basic and high performance chemicals.

Website: www.optimal.com.my

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