DuPont Dow Elastomers and PolyOne Announce Agreement

August 28, 2002

WILMINGTON, DEL. / CLEVELAND (August 28, 2002) – DuPont Dow Elastomers and PolyOne Corporation (NYSE: POL) today announced they have signed an agreement to jointly develop new thermoplastic elastomer (TPE) compounds based on Engage® polyolefin elastomers. Customers will benefit from the agreement by having access to a new and expanded range of TPE compounds using this versatile chemistry. DuPont Dow will have access to a broader range of markets and applications for its polymer, thanks to PolyOne's compounding and processing expertise plus global market presence. PolyOne broadens its olefin elastomer compound portfolio by utilizing DuPont Dow's patent-pending product and processing technology, and gains a strong market-development partner.

Under the agreement, PolyOne will manufacture and market these new soft TPE compounds and alloys based on Engage®. These products will be offered under the ELASTAMAX® product line from PolyOne as a new series called EG 9000 and will be available in extrusion and molding grades in Shore A hardness ranges from 65 to 90. This agreement is expected to accelerate development and growth of TPEs in emerging flexible applications and responds to customer demands for versatile olefin TPE compounds in a range of price and performance capabilities for injection molding and extrusion applications.

In late 2001, DuPont Dow globally introduced a next-generation compounding technology based on Engage® that enables higher service temperature performance, improved melt strength, and a better balance of processability and end-use performance for all-polyolefin compounds. The patent-pending technology will provide the basis for the new product line, according to the companies.

TPE compounds based on metallocene-catalyzed Engage® are highly elastomeric and can be used as an alternative to materials such as EPDM, SBS, SEBS, TPV, TPU, f-PVC, and EVA. These TPE compounds feature improved processability and low-temperature toughness, as well as provide easy colorability and UV stability. In extrusion applications, the materials offer unique rheology for improved processability, gauge / shape control, and sag resistance. They can be easily processed on conventional thermoplastic processing equipment, are recyclable (melt-reprocessable), offer excellent haptics (feel), provide excellent grain retention, and are low gloss even after thermoforming in sheeting applications. In injection molding applications, the materials offer high melt-flow characteristics not found in conventional TPO technologies for thin-walled and hard to fill parts, while providing excellent elastomeric performance. They are currently used in various applications for the automotive, wire & cable, footwear, sporting goods, small appliance / tools, toy, health & beauty aids, and industrial market segments.

Chris Landis, general manager, Thermoplastic Elastomers at PolyOne said, “TPE compounds based on Engage® polymers offer the industry a unique performance balance not found in conventional TPO formulation technology. Plus, processors in the extrusion sector – including sheet, profile, and blow molding – will find particular value in these new compounds due to their improved low-shear melt strength.”

“PolyOne brings outstanding market reach and compounding expertise, which will help DuPont Dow meet the strong demand for high-performance compounds based on Engage® polymers,” said Randy Stone, DuPont Dow regional marketing manager. “As a polymer supplier, we see the value in working closely with PolyOne, who is making a major commitment to be a key compounder and supplier of flexible TPEs.”

Adds Landis, “We see great value in working with DuPont Dow Elastomers, a technology innovator and market leader in the elastomers sector. We expect a variety of new products and technologies to emerge from this agreement, which will benefit a host of applications in the polymer industry. This agreement is an example of PolyOne's continuing commitment to invest in and strengthen its TPE compounds business, which includes a full technology portfolio of solutions for the marketplace.”

About PolyOne Corporation

PolyOne Corporation, with 2001 revenues of $2.7 billion, is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding, and thermoplastic resin distribution. Headquartered in Cleveland, Ohio, PolyOne has employees at manufacturing sites in North America, Europe, Asia, and Australia, and joint ventures in North America, South America, Europe, Asia, and Australia. Information on the company's products and services can be found at www.polyone.com.

About DuPont Dow Elastomers

DuPont Dow Elastomers, a global supplier of specialty elastomers headquartered in Wilmington, Del., is a joint venture between the DuPont Company and The Dow Chemical Company, with more than $1 billion (USD) in sales. The company is the industry leader in fluorinated elastomers, chloroelastomers, and ethylene elastomers, serving the automotive, chemical, construction, general rubber, and wire & cable industries. More information about the company's products and services can be found at www.dupont-dow.com.

Note to Editors: Reader inquiries for DuPont Dow Elastomers in the U.S. should be directed to 1-800-853-5515 or www.dupont-dow.com/engage.

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® Engage is a registered trademark of DuPont Dow Elastomers.

® Elastamax is a registered trademark of PolyOne Corporation.

Forward-Looking Statements

In this release, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, for example, statements about business outlook, assessment of market conditions, strategies, future plans, future sales, prices for major products, inventory levels, capital spending and tax rates. These forward-looking statements are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (1) an inability to achieve or delays in achieving savings related to consolidation and restructuring programs; (2) delays in achieving or inability to achieve the Company's strategic value initiatives, including cost reduction and employee productivity goals or achieving less than the anticipated financial benefit from the initiatives; (3) the effect on foreign operations of currency fluctuations, tariffs, nationalization, exchange controls, limitations on foreign investment in local businesses and other political, economic and regulatory risks; (4) changes in world, regional or U.S. plastic, rubber and PVC consumption growth rates affecting the Company's markets; (5) changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online in the PVC, VCM, chlor-alkali or other industries in which the Company participates; (6) fluctuations in raw material prices and supply and energy prices and supply, in particular fluctuations outside the normal range of industry cycles; (7) production outages or material costs associated with scheduled or unscheduled maintenance programs; (8) costs or difficulties and delays related to the operation of joint venture entities; (9) lack of day-to-day operating control, including procurement of raw material feedstocks, of other equity or joint-venture affiliates; (10) lack of direct control over the reliability of delivery and quality of the primary raw materials utilized in the Company's products; (11) partial control over investment decisions and dividend distribution policy of the OxyVinyls partnership and other minority equity holdings of the Company; (12) an inability to launch new products and / or services that fit strategically with and add value to the Company's business; (13) the possibility of goodwill impairment; (14) an inability to maintain any required licenses or permits; and (15) an inability to comply with any environmental laws and regulations.

Media Contact:
Christopher Farage, Ph.D.

Dir., Marketing & Communications

PolyOne Corporation


Cathy Branciaroli

DuPont Dow Elastomers


Ron Jury/ Burson Marsteller