A Gift for the Future

Enka, North Carolina, October 23, 2000 - BASF Corporation formally donated nearly 37 acres and three buildings at its Enka site to Asheville-Buncombe Technical Community College on Monday to establish a small business incubator and corporate technology center expected to have a multi-million dollar impact on the area's economy.

In a ceremony marked by the passing of a key and a ribbon-cutting at the entrance to the building where the college plans to set up the corporate technology training and conference center, BASF and A-B Tech completed what North Carolina Governor, Jim Hunt has called the largest property donation in history to any community college in the country.

"We have always been a partner with BASF and the companies that preceded them on that site in providing training opportunities for their employees, so we were delighted when BASF announced that they were considering this donation," A-B Tech President K. Ray Bailey said. "This is an historic day, not only because it will allow our college to grow, but because of what it will allow us to provide to this community."

To be known as A-B Tech's Enka Center, the property will be converted into a small business incubator to attract and support new start-up ventures and a corporate technology training and conference center serving business and industry through technological instruction and services. The three buildings, containing 225,000 square feet, served as part of BASF's corporate engineering offices and Fiber Products technical and research centers. The company's property associated with its manufacturing facilities at Enka is not included in the donation.

"Over the years, BASF has relied on A-B Tech to provide specialized training for our employees," said Wolfgang Hapke, BASF Fiber Products Division President. "We know from experience the value that A-B Tech brings to its students and to this community. So, when BASF was looking for innovative ways to utilize this property by adding value, it was only natural that we would turn to A-B Tech."

Partners in the project are the Asheville Area Chamber of Commerce, the Buncombe County Economic Development Commission, Western Carolina University and UNCA.

"This wonderful new facility will provide tremendous opportunities for the expansion of cooperative efforts between A-B Tech and Western Carolina University," said Martin Lancaster, president of the North Carolina Community College System. "It is a wonderful testament to the critical role the community college plays in the future of the area and to the tremendous respect the business community has for President Bailey."

The Asheville Area Chamber of Commerce has estimated the Enka Center has the potential to boost the Asheville-Buncombe economy by $3 million a year, serving the needs of approximately 9,000 existing businesses and incubating at least 20 to 30 start-up businesses every two years. Studies show that approximately 70 to 75 percent of all businesses that start in an incubator succeed and play an important role in the economic development of the communities they serve.

BASF Corporation is the third largest producer of chemicals and related products in the United States, Canada and Mexico, with sales of $7.2 billion in 1999. Based in Mount Olive, NJ, BASF Corporation is the North American affiliate of BASF AG (Ludwigshafen, Germany), which is listed on the New York Stock Exchange under the trading symbol "BF .

"We don't make a lot of the products you buy. We make a lot of the products you buy better.®" summarizes BASF's diverse product mix including chemicals, polymers, automotive and industrial coatings, colorants, pharmaceuticals, nylon fibers and agricultural products. BASF in North America employs more than 16,000 people at more than 50 locations and has an Internet site at http://www.basf.com/. The Slogan is a registered trademark of BASF Corporation.

Established in 1959, A-B Tech has become known as the community's college, enrolling more than 25,000 students a year in its curriculum and non-curriculum programs. The college offers technical and pre-baccalaureate programs in allied health and public service education, business and hospitality education, engineering and applied technology, and arts and sciences. Several hundred noncredit classes also are available through the Division of Continuing Education s Business and Industry Services and Community