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ANNOUNCEMENT:  INEOS PHENOL
July, 2008

INEOS Capital announce the following Executive Management changes at INEOS Phenol.

Leen Heemskerk is appointed CEO, INEOS Phenol with immediate effect. Leen's successor as CFO, INEOS Polyolefins and INEOS Phenol and Head of Mergers & Acquisitions will be the subject of a separate announcement.

Alberto Spera is appointed Commercial Director of INEOS Films.

Simon Laker is appointed Commercial Director, INEOS Phenol, reporting to Leen, with immediate effect.  Ron Coyle and Helmut Schmidt will report to Simon. Simons successor as Operations Director, INEOS Polyolefins will also be the subject of a separate announcement.

We would like to thank Alberto for his contribution to INEOS Phenol and to wish Alberto,  Leen and Simon every success in their new roles.




Andy Currie
INEOS Capital