The event, which attracted nearly 7,000 visitors to view the collections of 127 companies,
realized a 4-percent increase in Italian visitors, while the number of visitors from France, Spain,
Sweden — which more than doubled its number of buyers — and Russia also increased, helping to
balance out the declines in buyers from Asia and the United States.

Areas and events that garnered much enthusiasm included the Spazio Ricerca, Pitti Filati’s
area dedicated to trend laboratories and workshops. The area featured Candyfloss, a concept
dedicated to the interaction between food — particularly sweets — and aesthetics, developed by
fashion designer Angelo Figus and knitwear expert Nicola Miller. Italy’s first knitting rally,
Do-Knit-Yourself — created by designer Nicoletta Marozzi and the Nuov Accademia di Belle Arte in
partnership with the Trienniale of Milan — also was a hit, attracting participants to a series of
events that included student exhibitions, a knit out and performances.

Hexion, a portfolio company of Apollo Management LP, emerged as the winning suitor during a
two-week contest that began with Huntsman’s agreement to merge with Basell AF — a Netherlands-based
manufacturer of polypropylene and advanced polyolefin products — for $25.25 per share or $9.6
billion including debt. One week later, Hexion submitted an offer of $27.25 per share or $10.4
billion and subsequently raised it to $28 per share. Huntsman’s Board of Directors approved the
higher offer and terminated the agreement with Basell.

Hexion has up to one year to close the transaction, which is subject to regulatory approval
and the approval of Huntsman’s shareholders, of which the Huntsman family, a Huntsman charitable
trust and private equity firm MatlinPatterson Global Advisers LLP — all in favor of the transaction
— represent 57 percent. The period may be extended by 90 days by Huntsman’s Board of Directors
under certain circumstances. Beginning 270 days from July 12, 2007 — the date of the purchase
agreement — the price per share due from Hexion will increase at the annual rate of 8 percent.

“This is a very favorable outcome for our shareholders and one that reflects a confidence in
our company of which our associates can be very proud,” said Peter R. Huntsman, president and CEO,
Huntsman. “[Hexion and Huntsman] have complementary businesses and, together, will have an even
stronger technology platform from which to serve our customers.”

“This transaction provides Hexion and Huntsman with a great opportunity to create a
world-class company with leading-edge products and technologies, a greatly expanded global reach
particularly in the high-growth Asia-Pacific region, and an outstanding team of people,” said Craig
O. Morrison, chairman and CEO, Hexion.

In an effort to resolve the dispute through negotiation, the United States and China have
held two rounds of consultations that resulted in only minor concessions, which the United States
says do not go far enough. In announcing the action, Sean Spicer, a spokesman for the office of the
USTR, said: “China has taken a positive step by repealing one of the subsidy programs we
challenged, but much more needs to be done. We continue to prefer a negotiated settlement to this
dispute, but without assurance of complete corrective action by China, we must continue to pursue
the WTO process.”

The United States says subsidies conditioned either on a firm’s use of domestic over
imported content or on exports are prohibited by the WTO. Special tax breaks under a newly enacted
Chinese law also are in dispute. US textile manufacturers have listed financial incentives along
with other forms of subsidies, such as currency manipulation, as illegal actions by the Chinese
government.

“Our company is already very well organized and now we’re focusing our efforts on
development speed, creativity and the quality of our garments,” said Olivier Doolaeghe, CEO,
Marèse. “Investing in advanced technology allows us to remain competitive and to satisfy our
customers.

Lectra’s Product Development offering will enable Marèse to centralize and disseminate all
product information during the development process, while its Workflow Management offering will
enable the company to steer its management processes and carefully monitor product progress during
each phase of development.

“This first acquisition is fully part of our strategy to refocus Arkema on its strongest
product lines,” said Thierry Le Hénaff, chairman and CEO, Arkema. “It will reinforce the
integration of our portfolio, helping Arkema to become more resilient to economic cycles. This
acquisition is a unique growth opportunity in the field of high-added-value acrylic polymers.”

“Nylstar is the largest nylon textile denier supplier in Europe, whereas we’re relatively
small here in the US. As the market has downsized over there, there’s been a need to downsize the
company,” Walker said, explaining that there will be some filings against the company in Europe,
and, indeed, one or more petitions already have been filed. “It was important for us to file a
reorganization plan here in the US ahead of them so that we could protect our assets here,” he
added.

Walker said the US operation is in good financial shape and is expected to become a
stand-alone company, continuing to operate at the same level as it does currently, following its
emergence from bankruptcy. “Unlike most bankruptcies, we’re current with all our vendors. In fact
they were surprised at the filing because we pay our bills on time. We’re cash-flow positive, and
we run a good operation here. It was basically a move to deal with financial concerns related to
inter-company debt and also to restructure secured debt with Bear Stearns.,” he said, adding that
Bear Stearns, which holds the loan for Nylstar Inc., will convert that loan to equity.

Walker anticipates that the reorganization process will be quick. “It will depend on what
challenges we receive. There will be none from our vendors because we don’t owe them anything, but
there is the possibility we could get some claims from Europe because of inter-company debt and
debt associated with Rhodia [a former shareholder in the Nylstar Group],” he explained.