Disposal

Croda International PLC 27 February 2001 Croda International Plc Croda International exits Resins for £20m Croda International Plc announced the sale of its worldwide Resins business to Cray Valley Ltd, a subsidiary of the TotalFinaElf Group for a cash consideration of £17m paid on completion. In addition Croda is retaining certain assets with a book value of £2.8m for disposal, the primary one being the site at Belvedere, Kent, which is to be vacated shortly. Croda Resins currently operates from three sites, Speke and Belvedere in the UK and Beranang, Malaysia. The business made an operating profit of £1.4m in the year to 31 December 1999 and net assets, which are included in the transaction, of £10.3m at that date. The proceeds will initially be utilised in reducing borrowings and in the medium term for the further development of the Group's core business. For further information, please contact: Mike Humphrey, Chief Executive Tel: 01405 860551 Barbara Richmond, Group Finance Director Tel: 07767 252627 Tom Baldock, Financial Dynamics Tel: 0207 831 3113
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