Braskem Announces Sale of Share Interest in Petroflex

SAO PAULO, Brazil, December 13 /PRNewswire/ --

BRASKEM S.A. (BOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading company in the thermoplastic resins industry in Latin America and third-largest Brazilian industrial company owned by the private sector, announces that, jointly with Unipar -- Uniao de Industrias Petroquimicas S.A. ("Unipar") and other parties, entered into a Share Purchase Agreement on this date with the German company Lanxess Deutschland GmbH ("Lanxess") for the sale of Petroflex Industria e Comercio S.A ("Petroflex") shares. The amount of shares to be sold add up to 17,102,002 common shares and 7,416,602 preferred shares representative of 72.38% of total common shares and 69.68% of capital stock of Petroflex, at a total price of R$ 526,680,000, which corresponds up to R$ 22.86 per common share and R$ 18.29 per preferred class "A" share. Braskem is selling its total share interest, which represents 33.57% of Petroflex common shares and 33.46% of its preferred shares.

Upon the conclusion of this transaction, Braskem will have a cash inflow of approximately R$ 251 million and an estimated gain, before income tax, of R$ 110 million, based on the accounting value as of November 30, 2007. The transfer of the shares and the corresponding cash inflow will occur within approximately 6 months.

Petroflex is the largest producer of synthetic rubber in Latin America with annual production capacity of 442,000 tons and plants located in the states of Rio de Janeiro, Pernambuco and Rio Grande do Sul.

According to Jose Carlos Grubisich, Braskem CEO, "The conclusion of the sale of Braskem's share interest in Petroflex represents not only an important value creation for Braskem, with a cash inflow of R$ 251 million and gain of R$ 110 million, but reinforces the focus on our strategic target -- the thermoplastic resins business -- while keeping our position as main raw material supplier to the synthetic rubber production chain in Latin America through long-term contracts for the supply of butadiene."

For additional information, please contact Braskem's Investor Relations Area:

Luiz Henrique Valverde, [phone], [e-mail] Luciana Paulo Ferreira, [phone], [e-mail] Silvio Nonaka, [phone], [e-mail]