MAY/2002MAY/2002

PETROQUÍMICA UNIÃO S.A.PETROQUÍMICA UNIÃO S.A.PETROQUÍMICA UNIÃO S.A.PETROQUÍMICA UNIÃO S.A.

FERNANDO RAUL MIELI

Tel: 55.11.4478-1646 Fax: 55.11.4478-1500

E-mail: fernandomieli@pqu.com.br

http// www.pqu.com.br

MAY/2001MAY/2001

GDP (Billion US$)

Population (Million)

Mexico 618 105 Brazil 504 170 Argentina 270 37 Venezuela 125 24 Colombia 82 42 Chile 67 15 Peru 63 26

Total 1.729 419

SELECTED LATIN AMERICAN SELECTED LATIN AMERICAN ECONOMIES BY SIZEECONOMIES BY SIZE

According to latest reports form the International Monetary Fund (IMF), Latin America’s GDP reached

US$ 1,9 trillion in 2001.

Sources: IMF, World Bank, Quimax AnalysisSources: IMF, World Bank, Quimax Analysis

MAY/2001MAY/2001

ECONOMIC INDICATORSECONOMIC INDICATORSECONOMY MARKET WATCHECONOMY MARKET WATCH

Source: Quimax AnalysisSource: Quimax Analysis

Sept 2003 BRAZIL MEXICO ARGENTINA VENEZUELA

Foreign Investment Improving Stable Scarce Non Existent

Inflation % 9 4 17 30

GDP change (%) 2002 1.5 0,9 -12.0 -25.0

GDP change (%) 2003 E 1.0 1.5 4,0 -20.0

Consumer Confidence Cautious Cautious Improving Non Existent

Currency Exchange Stable Unstable Stable Non Existent

Unemployement 15% 5-10% 25% + 35%

Economy Improving Weak Improving Deteriorating

MAY/2001MAY/2001

PQUPQU is one of three basic petrochemicalis one of three basic petrochemical producers in Brazil and is located ...producers in Brazil and is located ...

MAY/2002MAY/2002

BRAZILBRAZIL

20032003 PQUPQU

MAY/2001MAY/2001

THE THE BRAZILIAN PETROCHEMICAL BRAZILIAN PETROCHEMICAL CAPACITYCAPACITY

(KMT / year of ethylene)(KMT / year of ethylene)

198319791972

0

200

400

600

800

1000

1200

PQU BRASKEM COPESUL

initial actual

MAY/2001MAY/2001

00 20 40 60 80 100 120 140

CHINACHINA

EAST EUROPEEAST EUROPE

BRAZILBRAZIL

MEXICOMEXICO

ARGENTINAARGENTINA

WEST EUROPEWEST EUROPE

CANADACANADA

SOUTH KOREASOUTH KOREA

JAPANJAPAN

TAIWANTAIWAN

EUAEUA

Plastics per Capita Plastics per Capita (kg/hab)(kg/hab)

MAY/2001MAY/2001

THE BRAZILIAN NAPHTHATHE BRAZILIAN NAPHTHA

BRAZILBRAZILBRASKEN (COPENE)

PQU

COPESUL

59%

42%

5%

22%

95%

56%

19%

2%Local Supplying

Domestic Supplying

Foreign Supplying

MAY/2001MAY/2001

SÃO PAULO PETROCHEMICAL COMPLEXSÃO PAULO PETROCHEMICAL COMPLEX GRANDE ABCGRANDE ABC

UNIPAR

PEU

PQU

UNIPAR

CHEVRON

OXITENO

OXICAP

CABOT

POLIBRASIL

VITOPEL

W.M.

PH

ILIP

S

CIAS DE GÁS

CO

PA

S

RECAP / PETROBRAS

PISCINÃO

MAY/2002MAY/2002

SÃO PAULO SÃO PAULO COMPLEXCOMPLEXPQU has a secure supply of 4,600,000 PQU has a secure supply of 4,600,000

tons/year of naphtha, while consuming tons/year of naphtha, while consuming 1,800,000 tons/year.1,800,000 tons/year.

São Paulo São Paulo Metropolitan Metropolitan

RegionRegion •Polibutenos

•Cabot

•Oxiteno

•Polibrasil Resinas

•Polietilenos União

•Unipar Div.Química

Petroquímica UniãoPetrobras Refineries

Naphtha Pipelines

Cubatão

SEBATSEBATRPBCRPBC

REVAREVAPP

REPLAN

Mauá

Santo André

São Paulo

Santos

RECARECAPP

Capuava

Ports

•Solvay Polietileno

•Solvay Indupa do Brasil

•CBE

•DOW (Union Carbide)

•Carbocloro

Ethylene Pipelines

55 km

São José dos Campos

São Sebastião

TEBATEBARR

Paulínia

MAY/2002MAY/2002

The The investments were promoted by investments were promoted by governmentgovernment in the 70 in the 70’s’s;;

Three Three plants basic petrochemical producers were respectively: plants basic petrochemical producers were respectively: PQU, COPENE (Braskem), COPESUL;PQU, COPENE (Braskem), COPESUL;

Second generation (composed by the those who transform the raw Second generation (composed by the those who transform the raw materials - e.g. polymers producers);materials - e.g. polymers producers);

Third generation (transformers-final products to the market). Third generation (transformers-final products to the market).

PQU was the first petrochemical raw materials PQU was the first petrochemical raw materials cracker plantcracker plant in in Brazil. Brazil.

Now there are three major producers located in the South (the Now there are three major producers located in the South (the Southern Complex), the Southeast (the PQU Complex), and Southern Complex), the Southeast (the PQU Complex), and the Northeast (the Northeastern Complex).the Northeast (the Northeastern Complex).

THE THE BRAZILIAN BRAZILIAN PETROCHEMICAL PETROCHEMICAL INDUSTRYINDUSTRY

MAY/2002MAY/2002

PQUPQU is located in the richest and most industrialized is located in the richest and most industrialized region in Brazil, accounting for 65% of the country’s region in Brazil, accounting for 65% of the country’s GDP (Gross Domestic Product) of US$ GDP (Gross Domestic Product) of US$ 500500 billion. billion.

MINAS GERAISMINAS GERAIS

SÃO PAULOSÃO PAULO

ESPÍRITO ESPÍRITO SANTOSANTO

RIO DE RIO DE JANEIROJANEIRO

VITÓRIAVITÓRIA

RIO DE JANEIRORIO DE JANEIRO

BELO HORIZONTEBELO HORIZONTE

SÃO PAULOSÃO PAULO

The Region accounts The Region accounts for the consumption of for the consumption of 75% of petrochemicals.75% of petrochemicals.

PQU supplies around PQU supplies around 30% of the region’s 30% of the region’s petrochemicals demand.petrochemicals demand.

The total market net The total market net sales = US$ 18,7 billion sales = US$ 18,7 billion (source: ABIQUIM/2002).(source: ABIQUIM/2002).

The region’s market net The region’s market net sales = US$ 14,7 billion.sales = US$ 14,7 billion.

MAY/2001MAY/2001

PPQU CAPACITYQU CAPACITY

PRODUCTS PRODUCTS PQU CAPACITY PQU CAPACITY

(kt / yr)(kt / yr)

ETHYLENEETHYLENE 500500

PROPYLENEPROPYLENE 250250

BUTADIENEBUTADIENE 8080

BENZENEBENZENE 200200

CARBON BLACK FEED STOCK CARBON BLACK FEED STOCK 120120

SOLVENTSSOLVENTS 180180

GASOLINEGASOLINE 2020

OTHEROTHER 170170

TOTALTOTAL 1,5201,520

MAY/2001MAY/2001

Aro

mat

ics

Ext

ract

ion

Naphtha Pyrolysis

Butadiene Extraction

P I B

Hydrocarbon Resins

Naphtha Fractionation

Pyrolysis Gasoline Hydrogenation

Hydrotreatment and Catalytic

Reforming

Xylenes Isomeratizion

Aromatics Fractionation

Hydrodealkilation

Aromatics Solvents

Heavy Alkylate

NAPHTHA

Raw Materials Products • Butadiene• Raffinate I

• Polyisobutylene• Raffinate II

• “Unilene” Resins

• Ethylene• Propylene Chemical Grade• Propylene Polymer Grade• Carbon Black Feedstock• Hydrogen

• C5 -

• C9 +

• Benzene

• Benzene• Toluene• Xylenes (mix)• Ortho Xylene

• C9 Solvents

• C10 Solvents

• C11 Solvents

• Light Residue

Processing

UNITSUNITSPETROQUÍMICA UNIÃO S.A.PETROQUÍMICA UNIÃO S.A.

MAY/2002MAY/2002

THETHE SÃO PAULO PETROCHEMICAL SÃO PAULO PETROCHEMICAL MARKETMARKETPETROBRAS - RPBC / REPLAN / REVAP / RECAPPETROBRAS - RPBC / REPLAN / REVAP / RECAP

PETROQUÍMICA UNIÃO S.A.PETROQUÍMICA UNIÃO S.A.

POLIETILENOS UNIÃOLDPEEVA

OXITENO ETHYLENE OXIDE

ETHYLENEGLYCOLS

CARBOCLOROEDC

CBESTYRENE

MONOMER

SOLVAY POLIETILENOHDPE

POLIBUTENOSPIB

POLIBRASILRESINAS

PP

UNIPAR DIV. QUÍMICA NONENE /TETRAMER

CUMENE

RHODIAPHENOL / BPA

NYLON

LÁTEX

TRIKEM - SPPVC

PETROFLEXSBR

LÁTEX

DOWLATEXPS exp

IQTLATEX

ELEKEIROZ

MALEIC ANHYDRIDE

PHTHALIC ANHYDRIDE

EDN-SULPS

RESINORPS exp

PETROMPHTHALIC

ANHYDRIDE

PHTHALATES

CABOTCARBON BLACK

COLUMBIAN CARBON BLACK

RHODIACOPTA

ETHYLENEETHYLENE500,000 tpy500,000 tpy

C4 STREAM99,000 tpy

PROPYLENE250,000 tpy

BUTADIENE80,000 tpy

BENZENE200,000 tpy

O-XYLENE50,000 tpy

CARBON BLACK FEEDSTOCK120,000 tpy

VCMVCM

SOLVAY INDUPA SOLVAY INDUPA (ARG)(ARG)

VCMVCM

TRIKEM- (AL)TRIKEM- (AL) P-XYLENE P-XYLENE COPENE (BA)COPENE (BA)

SMSM

EDN (BA)EDN (BA)

NAPHTHANAPHTHA

DOW(UNION CARBIDE)LDPE

BASFLATEX

PS

RHODIA-STERPET

NITRIFLEXNBR

LÁTEX

TOLUENE75,000 tpy

XILENES80,000 tpy

SOLVENTS AND

SULFONATIONSOLVAY INDUPA

VCMPVC

C9/10/11 20,000 tpy

UNILENE RESINS12,000 tpy

PAINTING INKS, ADHESIVES, RUBBER

BAYERANILINE

KRATON

TR

DISTRIBUTION

GLP 50,000 tpy

GASOLINE 180,000 tpy

MAY/2001MAY/2001

MARKET OF PQU’s PRODUCTSMARKET OF PQU’s PRODUCTS

Intermediatechemicals

25,8%

Sinthetic fibers8,4%

Plastics39,3%

Rubbers4,2%

Solvents4,4%

Plasticizers3,1%

Adhesives

0,2%Paint and Vernishes

0,9%

Others13,6%

MAY/2002MAY/2002

BRAZILIAN MARKET-SHAREBRAZILIAN MARKET-SHARE

20022002

21%

38%

41%

PQU

BRASKEM(COPENE)

COPESUL

MAY/2002MAY/2002

Composed by ShareholdersComposed by ShareholdersPQUPQU

Unipar 37,2%

Oxiteno1,9%

Other15,7%

Polibrasil6,8%DOW (UCB)

13,0% SEP6,7%

Petroquisa17,4%

Unigel1,3%

MAY/2002MAY/2002

PQUPQUPersonnel/million ton of chemicals Personnel/million ton of chemicals

producedproduced

Source: Solomon AssociatesSource: Solomon Associates

558559601

309283 243

0

100

200

300

400

500

600

700

1991 1993 1995 1997 1999 2001

PqUUSA & Canada = 210Average = 283Europe = 194

MAY/2001MAY/2001

PQUPQUTotal SalesTotal Sales

QUARTELY SALES DEVELOPMENT

0

75.000

150.000

225.000

300.000

375.000

450.000

Q1/

97

Q3/

97

Q1/

98

Q3/

98

Q1/

99

Q3/

99

Q1/

00

Q3/

00

Q1/

01

Q3/

01

Q1/

02

Q3/

02

Q1/

03

Q3/

03

TONS

OLEFINS AROMATICS GASOLINE EXPORTATION OTHER

MAY/2002MAY/2002

PQU PQU Business Business OOpportunitiespportunities

The production capacityThe production capacity

Infra-structureInfra-structureNew water supply systemNew water supply systemPower GenerationPower Generation

Integration Upstream and Integration Upstream and DownstreamDownstream

MAY/2001MAY/2001

PQU PROJECTPQU PROJECT

PETROQUIMICA UNIAO

IMPORTED NAPHTHA208 KTA

NATURAL GAS56 KTA240.000 m3/day

NATURAL GAS 301 KTA1.280.000 m3/day REVAP

RECAPRECAPFCC OFF GAS

353 KTA

ETHYLENE 200 KTA

BYPRODUCTS 191 KTA

• Natural Gas consumption in Refineries: 357 KTA or 1.520.000 m3/day• Natural Gas substitution at PQU: 61 KTA or 375.000 m3/day• Natural Gas additional consumption (from BOLIVIA): 296 KTA or 1.145.000 m3/day.

MAY/2001MAY/2001

PETROBRAS/REVAPPETROBRAS/REVAP TOTALTOTAL

Pre-treatment + Compression Pre-treatment + Compression 1616 1616

PETROQUIMICA UNIÃOPETROQUIMICA UNIÃO

Modifications in Olefins UnitModifications in Olefins Unit 3535

144144

FCC Off Gas Treatment UnitFCC Off Gas Treatment Unit 5353

105 Km pipe from REVAP to PQU105 Km pipe from REVAP to PQU 2020

Modifications in Aromatics UnitModifications in Aromatics Unit 1010

Modifications in Utilities UnitModifications in Utilities Unit 55

Contingencies: 10% + Working Contingencies: 10% + Working CapitalCapital

2121

TOTAL INVESTMENT PREDICTEDTOTAL INVESTMENT PREDICTED 160160

Values in millions of dollars

PROJECT INVESTMENTPROJECT INVESTMENT

MAY/2001MAY/2001

1.1. Comercial Negotiations: end of Comercial Negotiations: end of

20032003

2.2. Basic Engineering: feb/2004Basic Engineering: feb/2004

3.3. EPC Contract:EPC Contract: may/2004 may/2004

4.4. Previous Enviromental License: jul/2004Previous Enviromental License: jul/2004

5.5. Construction start:Construction start: nov/2004 nov/2004

6.6. Plant Start up:Plant Start up: jun/2007 jun/2007

PQU PROJECT SCHEDULEPQU PROJECT SCHEDULE

MAY/2001MAY/2001

PQUPQUBALANCE SHEETSBALANCE SHEETS

AS OF DECEMBER 31, 199AS OF DECEMBER 31, 1999, 2000, 2001,2002 and Sept/20039, 2000, 2001,2002 and Sept/2003

In thousands of reais - R$In thousands of reais - R$

ASSETS 1999 2000 2001 2002 Sept 2003

CURRENT ASSETS 127.904 170.383 195.148 303.734 316.937 Cash & Equivalents 585 678 983 17.442 7.176 Short-term Investments - - - - Accounts Receivable - trade 65.367 95.166 115.070 148.238 180.327 Inventories 53.209 56.160 53.887 97.193 105.846 Other Current Assets 8.743 18.379 25.208 40.861 23.588

LONG-TERM ASSETS 22.678 38.562 10.610 56.779 48.704 Prepaid and Deferred Income Taxes 10.653 15.171 6.689 36.712 32.126 Other Credits 12.025 23.391 3.921 20.067 16.578

PERMANENT ASSETS 876.305 856.499 904.353 996.405 967.292 Investments 47.780 60.889 81.062 123.118 102.061 Fixed Assets (net) 802.368 781.620 819.758 868.625 859.475 Deferred Charges 26.157 13.990 3.533 4.662 5.756

TOTAL ASSETS 1.026.887 1.065.444 1.110.111 1.356.918 1.332.933

MAY/2001MAY/2001

BALANCE SHEETSBALANCE SHEETSAS OF DECEMBER 31, 199AS OF DECEMBER 31, 1999, 2000, 2001,2002 and Sept/20039, 2000, 2001,2002 and Sept/2003

In thousands of reais - R$In thousands of reais - R$

PQUPQU

LIABILITIES 1999 2000 2001 2002 Sept 2003

CURRENT LIABILITIES 226.446 260.653 243.183 392.668 553.948 Suppliers 45.197 22.225 64.517 188.639 180.300 Loans and Financing 68.071 85.257 41.274 80.707 302.104 Taxes 19.063 15.566 36.784 39.222 42.563 Payroll and Social Charges 5.148 5.527 3.909 4.945 6.073 Other Current Liabilities 88.967 132.078 96.699 79.155 22.908

LONG-TERM LIABILITIES 237.457 225.950 253.233 438.997 204.366 Loans and Financing 135.511 124.761 140.746 303.164 60.904 Deferred Taxes 101.946 101.189 104.810 96.478 93.298 Other Long-term Liabilities - - 7.677 39.355 50.164

STOCKHOLDERS' EQUITY 562.984 578.841 613.695 525.253 574.619 Capital Stock 268.541 268.541 268.541 268.541 268.541 Capital Reserve 9.770 13.684 13.724 12.650 9.401 Revaluation Reserve 169.619 162.054 193.021 180.805 173.729 Income Reserves 115.054 134.562 138.409 63.257 63.163 Retained Earnings - - - - 59.785

TOTAL LIABILITIES 1.026.887 1.065.444 1.110.111 1.356.918 1.332.933

MAY/2001MAY/2001

PQUPQUFinancialFinancial

1999 2000 2001 2002Jan/Sept

2003Current Ratio (x) 0,56 0,65 0,78 0,77 0,57Quick Ratio (x) 0,33 0,44 0,56 0,53 0,38Debt Equity Ratio (x) 0,82 0,84 0,81 1,58 1,32Gross Margin 24,9% 17,0% 11,8% 7,5% 8,7%Net Profit Margin 8,6% 9,7% 5,5% 0,3% 3,3%Return on Equity 12,8% 22,8% 13,8% 0,9% 13,4%Return on Average Assets 7,2% 12,8% 7,4% 0,4% 5,5%Payout 56,7% 57,7% 170,7% 1556,5% 87,3%Equity/Total Assets 54,8% 54,3% 55,3% 38,7% 43,1%Equity/Consolidated Loans (x) 3,61 4,00 5,52 2,06 2,35 Long Term Consolidated Debt/Total 20,5% 17,9% 22,3% 30,2% 26,3%Long Term Consolidated Debt/Equity 8,3% 4,5% 11,6% 17,4% 10,6%

MAY/2001MAY/2001

PQU PQU PROFITABILITY EVOLUTIONPROFITABILITY EVOLUTION

Profit/Net Worth

12,2%

0,9%

13,0%12,8%

8,5%

2,6%

22,8%

1997 1998 1999 2000 2001 2002 Jan/Sept2003

MAY/2001MAY/2001

PQUPQUIndexIndex

1999 2000 2001 2002Jan/Sept

2003Daily Sales - Average Petrochemical - ton/day 3.961 4.130 3.937 3.487 3.863 Ethylene - ton/day 1.294 1.277 1.216 1.121 1.241 Utilities Consumption Water - m3/ton pb 4,33 4,15 4,47 4,61 4,39

Electric Power - mw/ton pb 0,09 0,11 0,09 0,13 0,14

Productivity Index Petrochemical - ton/employee 225 239 229 193 214 Net Sales - R$ thousands/employee 125,5 208,4 223,2 210,5 319,0Fixed Cash Cost/Sales - R$/ton 35,79 37,48 44,31 59,17 65,49

MAY/2001MAY/2001

P&L P&L STATEMENTSSTATEMENTSFor the years ended DECEMBER 31, For the years ended DECEMBER 31, 1999, 2000, 2001, 2002 and 1999, 2000, 2001, 2002 and

Jan/Sept.2003Jan/Sept.2003

In thousands of reais - R$In thousands of reais - R$

PQUPQU

DESCRIPTION 1999 2000 2001 2002Jan/Sept

2003Net Sales 832.912 1.355.429 1.446.589 1.401.965 1.604.999 Cost of Products and Services Sold (625.814) (1.125.185) (1.275.232) (1.296.325) (1.465.003)

Gross Profit 207.098 230.244 171.357 105.640 139.996

Operating (Expenses) Income (121.830) (65.579) (91.415) (178.591) (29.461) Selling Expenses (8.913) (8.318) (11.169) (15.890) (16.611) General and Administrative Expenses (18.713) (23.528) (22.988) (32.782) (19.052) Financial Expenses (Net) (88.498) (35.687) (50.481) (126.544) 16.467 Taxes (3.348) (6.914) (10.513) (9.648) (11.093) Other Operating (Expenses) Income (2.358) 8.868 3.736 6.273 828

Operating Income 85.268 164.665 79.942 (72.951) 110.535

Non Operating Expenses (Net) 1.050 8.882 20.999 45.302 (20.838) Income before Income Taxes and Participations 86.318 173.547 100.941 (27.649) 89.697 Income and Social Contribution Taxes (14.313) (41.718) (20.921) 32.553 (37.082)

Net Income for the Period 72.005 131.829 80.020 4.904 52.615

Number of Shares (thousands) 100.199 100.199 100.199 100.199 100.199 Income per Share - R$ 0,7186 1,3157 0,7986 0,0489 0,5251

MAY/2001MAY/2001

PQUPQUSales and ProfitsSales and Profits

R$ millionR$ million

0

150

300

450

600

750

900

1050

1200

1350

1500

1650

1994 1995 1996 1997 1998 1999 2000 2001 2002 Jan/Sept2003

(40,0)

(20,0)

-

20,0

40,0

60,0

80,0

100,0

120,0

140,0

NET SALES PROFIT

MAY/2001MAY/2001

PQUPQU

EBITDAEBITDA

1999 2000 2001 2002 Jan/Sept 2003

EBITDA In thousands of reais - R$ 235.018 255.635 193.758 130.168 133.253

EBITDA/Net Sales 28,2% 18,9% 13,4% 9,3% 8,3%

Total Debt/EBITDA 0,7x 0,6x 0,6x 2,0x 1,4x

EBITDA/Paid Interest 7,5x 10,2x 8,1x 7,6x 5,7x

MAY/2001MAY/2001

PQUPQUEBITDA/Net SalesEBITDA/Net Sales

0,0

5,0

10,0

15,0

20,0

25,0

30,0

35,0

%

1994 1995 1996 1997 1998 1999 2000 2001 2.002 J an/ Sept

2003

MAY/2001MAY/2001

PQUPQU

ADDED VALUEADDED VALUE

In thousands of reais- R$ 1999 2000 2001 2002

Jan/Sept 2003

1.043.721 1.707.602 2.031.217 1.983.527 2.253.701 Costs (671.180) (1.270.656) (1.453.733) (1.462.033) (1.712.914)

Gross Added Value 372.541 436.946 577.484 521.494 540.787

Depreciation/Amortization/Provisionfor maintenance shutdown (49.525) (45.051) (50.225) (70.053) (31.654)

Net Added Value 323.016 391.895 527.259 451.441 509.133 Transferences 5.703 12.607 25.595 53.450 (15.026) Added Value to allocate 328.719 404.502 552.854 504.891 494.107

Personnel Expenses 32.380 36.354 35.602 33.465 27.336 Taxes and Duties 124.942 190.618 373.466 326.735 420.925 Financial Expenses 90.631 38.022 55.185 130.311 (13.845) Shareholders' Revenue 77.356 120.000 84.754 89.533 - Profit Reserve 3.410 19.508 3.847 (75.153) 59.691 Total Added Value 328.719 404.502 552.854 504.891 494.107

Income (sales and nonoperating income)

MAY/2002MAY/2002

PQUPQUVALUE ADDED – APROPRIATION

R$ million

0 50 100 150 200 250 300 350 400 450 500

1998

1999

2000

2001

2002

Jan/Sept.03

PERSONNEL SHAREHOLDERS TAXES

MAY/2002MAY/2002

PQU PQU considers environmental considers environmental

protection a priorityprotection a priority

PQU is a sponsor of the Responsible Care Program.PQU is a sponsor of the Responsible Care Program. The Company made substantial investments, around The Company made substantial investments, around

US$ 56 million, to keep its plant and operations in US$ 56 million, to keep its plant and operations in compliance with environmental laws and regulations.compliance with environmental laws and regulations.

The Company now is fully compliant with the State of The Company now is fully compliant with the State of São Paulo’s Environment Protection Authority.São Paulo’s Environment Protection Authority.

MAY/2001MAY/2001

PQPQUUPETROQUÍMICA UNIÃO PETROQUÍMICA UNIÃO

S.A.S.A.

Av. Presidente Costa e Silva, 1178

09270-901 Santo André - São Paulo - Brazil

Tel: 55.11.4478-1515 Fax: 55.11.4478-1500

E-mail: pqu@pqu.com.br http// www.pqu.com.br