Celanese Relocates Strategic Management of Acetyls Business to China, O'Dwyer Named President of Celanese Asia.

DALLAS -- Celanese Corporation (NYSE:CE), a global hybrid chemical company, today announced steps to strengthen and grow its already strong position in Asia by relocating strategic management of the company's Acetyls business to Shanghai, China, as early as spring 2007. John O'Dwyer, president, Acetyls, will additionally serve as president, Celanese Asia, from the Shanghai office. He will be responsible for growing Celanese's business position for all segments in this high-growth region critical to successful execution of the company's strategy.

Responsibility for Acetyls' global business functions, as well as overall responsibility for Asia, will move to Shanghai from Dallas; regional sales, marketing and supply chain functions are expected to remain in the United States.

"This region has experienced tremendous growth in the past decade, and its projected rate of growth presents significant opportunities for Celanese businesses, particularly for our core acetyl products and derivatives," said President and Chief Executive Officer Dave Weidman. "Celanese today derives about 20 percent of company revenue and 30 percent of earnings from Asia. We expect to increase revenue generation from this region to more than 30 percent and earnings to grow to between 45 to 55 percent of the company total by 2010. With the construction of up to five facilities that extend beyond Acetyls, our integrated complex in Nanjing, China, alone is expected to generate between $600 and $700 million in revenue by 2010."

"By relocating our Acetyls business to China and selecting a tenured Celanese leader to oversee growth for all of Asia, we are demonstrating our commitment to take advantage of opportunities in this region and expand our global positions," Weidman said. "Celanese's future in Asia extends beyond our key positions in China, Singapore, Japan and Korea, and through this latest strategic action, we expect to capitalize on upward economic trends in the Asian emerging markets."

Acetyls' strategic leaders will immediately begin to transfer roles to China over the next several months. Current Presidents of Celanese China, Josh Cheng, and Celanese Japan, Jiro Okada, will report to O'Dwyer and continue to focus on their respective businesses and regions.

As a global leader in the chemicals industry, Celanese Corporation makes products essential to everyday living. Our products, found in consumer and industrial applications, are manufactured in North America, Europe and Asia. Net sales totaled $6.1 billion in 2005, with approximately 60% generated outside of North America. Known for operational excellence and execution of its business strategies, Celanese delivers value to customers around the globe with innovations and best-in-class technologies. Based in Dallas, Texas, the company employs approximately 9,300 employees worldwide. For more information on Celanese Corporation, please visit the company's website at www.celanese.com.

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