TETRA Technologies, Inc. Enters into Agreements with Chemtura Corporation.

THE WOODLANDS, Texas -- TETRA Technologies, Inc. (TETRA or the Company) (NYSE:TTI) today announced that it has entered into a number of long term agreements with Chemtura Corporation (NYSE:CEM) and its affiliates. Among other things, these agreements incorporate the following terms:

* TETRA will make an investment in Chemtura's bromine operations and will acquire its bromine requirements from Chemtura's Arkansas bromine facilities. The cost to TETRA of this bromine is contractually set, and is anticipated to supply all of TETRA's bromine needs.

* Chemtura will supply TETRA with tail brine from its Arkansas facilities following bromine extraction. TETRA will utilize this brine as a feedstock and will build a new calcium chloride plant.

* The new calcium chloride plant will be constructed on land purchased from and adjacent to Chemtura's Central Bromine Plant, located near El Dorado, Arkansas. The plant will produce liquid and flake calcium chloride. TETRA is currently in discussions with the State of Arkansas regarding the availability of incentives related to the development of this project.

* The new calcium chloride manufacturing plant will also produce sodium chloride and magnesium hydroxide as co-products.

* Chemtura has the right to purchase sodium chloride and magnesium hydroxide from the new plant at market advantaged prices.

* In the event that TETRA should elect to jointly develop or to divest its bromine leases in Arkansas, Chemtura has certain rights to participate in the future development or purchase of those reserves.

* The term of the agreements spans more than two decades.

Geoffrey M. Hertel, President and Chief Executive Officer, stated, "These agreements allow us to accelerate our ability to assure supply of Clear Brine Fluids (CBFs) to our completion service customers and allow TETRA to source all the bromine that will be necessary for the manufacture of bromides for our CBF business for decades to come. This project will supplant our previously announced Magnolia development. The agreements give us access to bromine about 18 to 24 months earlier than we could have obtained bromine from our originally proposed Magnolia plant. We are eliminating the engineering risk associated with the building of a bromine plant and the geological risk associated with the drilling of the brine wells. TETRA is also eliminating the cost of a bromine plant, the brine well field, disposal wells, and the pipelines and associated transportation facilities. Chemtura represents a built-in and geographically advantaged customer for a large portion of our sodium chloride output.

"TETRA has been working on the development of the technology to build the calcium chloride plant since early 2006. It plans to begin construction in late 2007 or early 2008. It should take 18 - 24 months to complete the facility. However, the supply of bromine is immediate. Under our previously announced Magnolia project, TETRA would not have obtained meaningful bromine until late 2008. Because of this anticipated delay in bromine availability, TETRA has carried substantial inventories of CBFs and continued to purchase CBFs under existing supply arrangements. Under the new arrangement, we anticipate significant improvement in our basic position in bromine as well as substantial long term efficiencies. However, TETRA will not realize significant benefits (and will in fact incur additional costs) until current inventories and supply obligations are exhausted (TETRA will incur additional costs as it escalates forward the amount of product it is obligated to take under the existing supply arrangements). We believe it will take all of 2007 to "wash through the system" most of the current inventory and current supply arrangement volumes. This should cause our 2007 Fluids Division profits to be below profit levels attained in 2006. While both the original Magnolia project and the Chemtura agreements would eventually bring significant profit improvements to TETRA, the inherent advantage of the Chemtura alliance is that we recognize the benefit more rapidly in 2008, 2009 and thereafter.

"Simultaneous with the increase in bromine supply from the Chemtura agreements, TETRA is expanding its brominated CBF plant at West Memphis, Arkansas. This will allow us to produce 100% of the CBF needs of our customers.

"TETRA is very pleased to have entered into these agreements with Chemtura. We believe that this is a classic case of each company leveraging off the other's abilities to create a true win-win scenario for decades to come. Clearly, the reduced capital commitment, mitigation of risks and acceleration of the project are important plusses for TETRA," concluded Hertel.

TETRA is an oil and gas services company, including an integrated calcium chloride and brominated products manufacturing operation that supplies feedstocks to energy markets, as well as other markets.

This press release includes certain statements that are deemed to be forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performances and that actual results or developments may differ materially from those projected in the forward-looking statements. Some of the factors that could affect actual results are described in the section titled "Certain Business Risks" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2005, as well as other risks identified from time to time in its reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.