BASF sells Mount Olive, N.J., property to BPG Properties Ltd.

FLORHAM PARK, N.J., June 19, 2006 -- BASF Corporation announced today that it has sold its 950,000-square-foot office complex in Mount Olive, N.J., to BPG Properties Ltd., Philadelphia, Pa. The terms of the sale are not being disclosed.

“The sale of our former headquarters in Mount Olive represents another part of the restructuring effort that we started four years ago,” said Klaus Peter Loebbe, Chairman and CEO of BASF Corporation. “Since moving to our new headquarters in Florham Park, where the office space is more conducive for team work and collaboration, BASF has delivered very strong business results and is well positioned to capitalize on opportunities for profitable growth.”

BASF built the Mount Olive office complex, located at 3000 Continental Drive - North, to house its North American headquarters. The complex opened in 1994 and a building expansion followed in 1998. BASF moved to its present headquarters at 100 Campus Drive, Florham Park, N.J., in September of 2004. 

The sale includes 97 acres of land surrounding the office complex. BPG Properties, a privately held real estate firm, is investing in the property with plans to market it to multiple tenants.

BASF - The Chemical Company. We don't make a lot of the products you buy. We make a lot of the products you buy better.^®
BASF Corporation, headquartered in New Jersey, is the North American affiliate of BASF AG, Ludwigshafen, Germany. BASF employs about 10,000 people in North America and had sales of approximately $11.3 billion in 2005. For more information about BASF’s North American operations, or to sign up to receive news releases by e-mail, visit www.basf.com/usa.

As the world’s leading chemical company, BASF's portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. BASF’s intelligent system solutions and high-value products help its customers to be more successful. BASF develops new technologies and uses them to open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. In 2005, BASF had approximately 81,000 employees and posted sales of more than $50.4 billion. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF), and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

For more information, contact:
Maureen Paukert
BASF
Tel: (973) 245-6077
E-mail: maureen.paukert@basf.com