Braskem Finance Limited Announces Extension of Tender Offers and Receipt of Requisite Consents For 11.75% Notes Due 2014, 9.375% Notes Due 2015 and 8.00% Notes Due 2017

SAO PAULO, April 15, 2011 - Braskem Finance Limited ("Braskem Finance") announced today that it is
extending the expiration dates with respect to its previously announced
offers to purchase for cash and solicitations of consents (each, an "Offer")
with respect to any and all of the outstanding 11.75% Notes due 2014 (the
"2014 Notes"), 9.375% Notes due 2015 (the "2015 Notes") and 8.00% Notes due
2017 (the "2017 Notes" and, together with the 2014 Notes and the 2015 Notes,
the "Notes"). Braskem Finance is extending the expiration date for each Offer
to 5:00 p.m. (New York City time) on Wednesday, April 20, 2011, unless
further extended (the "Extended Expiration Date"). Holders of Notes who
validly tender their Notes prior to the Extended Expiration Date will be
eligible to receive the applicable Purchase Price (which includes the Consent
Payment), plus any Accrued Interest (as each term is defined in the Offer to
Purchase (as defined below)).

Braskem Finance and Braskem S.A. ("Braskem"), the parent company of
Braskem Finance, are co-issuers of the 2014 Notes and the 2017 Notes, and
Braskem is the issuer of the 2015 Notes. In connection with each tender
offer, Braskem Finance is also soliciting the consents of the holders of the
corresponding series of Notes to the adoption of certain amendments (the
"Proposed Amendments") to the corresponding indenture or issuing and paying
agency agreement governing the applicable Notes (collectively, the "Governing
Debt Instruments") to eliminate substantially all of the restrictive
covenants, as well as specified events of default and related provisions
contained in each of the Governing Debt Instruments. With respect to each
Governing Debt Instrument, the Proposed Amendments require the consent (the
"Requisite Consents") of holders of a majority in aggregate principal amount
of the applicable Notes outstanding (excluding any Notes held by Braskem
Finance or its affiliates). Holders who tender their Notes pursuant to a
tender offer are deemed to have consented to the Proposed Amendments pursuant
to the related consent solicitation.

As of 11:00 a.m. (New York City time) on April 15, 2011 (the original
expiration date of each Offer), holders of (i) US$163,093,000 in aggregate
principal amount of the 2014 Notes, or approximately 65.2% of the outstanding
2014 Notes, (ii) US$82,265,000 in aggregate principal amount of the 2015
Notes, or approximately 54.8% of the outstanding 2015 Notes (which percentage
excludes the US$100.0 million of 2015 Notes held by an affiliate of Braskem
Finance), and (iii) US$137,849,000 in aggregate principal amount of the 2017
Notes, or approximately 50.1% of the outstanding 2017 Notes, had validly
tendered their Notes and delivered their related consents.

Braskem Finance has received the Requisite Consents with respect to each
series of Notes, and on the applicable settlement date intends to execute an
amendment or supplemental indenture, as applicable, to the respective
Governing Debt Instrument. Any Notes not tendered and purchased in the
applicable Offer will remain outstanding and will be governed by the terms of
the applicable Governing Debt Instrument, as amended by the applicable
amendment or supplemental indenture.

Tendered Notes may not be withdrawn and the related consents may not be
revoked, except as may be required by applicable law. All Notes previously
tendered and related consents previously delivered will remain so tendered
and delivered, and no other action with respect to these Notes is required.
Holders of Notes who have not previously tendered their Notes and delivered
their related consents may use the previously distributed Offer Documents
(described below) for such purposes.

The terms and conditions of each Offer, as well as the Proposed
Amendments, are described in the Offer to Purchase and Consent Solicitation
Statement, dated April 6, 2011 (the "Offer to Purchase"), and the related
Letter of Transmittal and Consent (the "Letter of Transmittal" and, together
with the Offer to Purchase, the "Offer Documents"). The terms and conditions
of the tenders offers and consent solicitations remain unchanged as a result
of this extension, except as provided in this press release. Copies of the
Offer Documents are available to holders of Notes from D.F. King & Co., Inc.,
the depositary and information agent for each Offer at +1-(800)-628-8536
(toll free) or +1-(212)-269-5550, and from The Bank of New York Mellon
(Luxembourg) S.A., the Luxembourg Tender Agent, at (+352)-24-52-5320.

Braskem Finance has retained Citigroup Global Markets Inc., Deutsche Bank
Securities Inc. and Santander Investment Securities Inc. to act as Dealer
Managers and Solicitation Agents in connection with each Offer. Questions
regarding each Offer may be directed to Citigroup Global Markets Inc. at
+1(800)558-3745 (toll free) or +1(212)-723-6108 (collect), Deutsche Bank
Securities Inc. at +1(866)627-0391 (toll free) or +1(212)250-2955, or
Santander Investment Securities Inc. at +1(212)407-0995 (collect).

Neither the Offer Documents nor any related documents have been filed
with the U.S. Securities and Exchange Commission, nor have any such documents
been filed with or reviewed by any federal or state securities commission or
regulatory authority of any country. No authority has passed upon the
accuracy or adequacy of the Offer Documents or any related documents, and it
is unlawful and may be a criminal offense to make any representation to the
contrary.

This announcement is not an offer to purchase, a solicitation of an offer
to purchase or a solicitation of consents. Each Offer is being made solely
pursuant to the Offer Documents. Each Offer is not being made to, nor will
Braskem Finance accept tenders of Notes and deliveries of consents from,
holders in any jurisdiction in which each Offer or the acceptance thereof
would not be in compliance with the securities or blue sky laws of such
jurisdiction. Braskem Finance reserves the right, in its sole discretion and
subject to applicable law, not to accept any tenders of Notes or deliveries
of any consents for any reason.

Forward-Looking Statements

This press release contains statements that are forward-looking within
the meaning of Section 27A of the U.S. Securities Act of 1933, as amended,
and Section 21E of the U.S. Securities Exchange Act of 1934, as amended.
Forward-looking statements are only predictions and are not guarantees of
future performance. Investors are cautioned that any such forward-looking
statements are and will be, as the case may be, subject to many risks,
uncertainties and factors relating to Braskem Finance that may cause the
actual results to be materially different from any future results expressed
or implied in such forward-looking statements. Although Braskem Finance
believes that the expectations and assumptions reflected in the
forward-looking statements are reasonable based on information currently
available to Braskem Finance's management, Braskem Finance cannot guarantee
future results or events. Braskem Finance expressly disclaims a duty to
update any of the forward-looking statements.

Tom Long, +1-212-493-6920, tlong at dfking.com