SNF Floerger Announces Pricing of euro 190 Million Senior Notes Due 2017

ST. ETIENNE, France, June 22, 2010 - Privately-held specialty chemicals company SNF Floerger, based in St.
Etienne, France, today announced the pricing of euro 190 million aggregate
principal amount of senior notes issued by its parent company, S.P.C.M. SA.
The senior notes will bear interest at a rate of 8.25% per annum and will
mature in 2017. The company also announced that it had entered into a new
senior credit facilities agreement on June 21, 2010 for a total principal
amount of U.S. $440 million, comprising a $140 million senior term loan
facility, a $100 million senior capex facility and $200 million senior
revolving credit facilities. Completion of the new senior notes and the new
senior credit facilities will be subject to customary closing conditions.

Proceeds from the offering of the new senior notes and the new senior
credit facilities will be used, among other things, to refinance the existing
senior credit facilities, settle the tender offer which the company launched
on June 18, 2010 for its existing senior notes due 2013 and redeem the
existing senior notes that remain outstanding following the tender offer, if
any.

The new senior notes will not be registered under the U.S. Securities Act
of 1933, and will be offered and sold pursuant to Rule 144A and Regulation S
under the Securities Act.

SNF is a leader in the production of polyacrylamides, a water-soluble
specialty chemical used in water treatment, oil and petroleum applications,
mineral extraction, pulp and paper manufacturing and other industries. SNF
had net revenues and EBITDA of euro 1,040.1 million and euro 170.2 million,
respectively, in 2009.

THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED
STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM REGISTRATION. ANY PUBLIC OFFERING OF
SECURITIES IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT
MAY BE OBTAINED FROM THE COMPANY, WHICH WILL CONTAIN DETAILED INFORMATION
ABOUT THE COMPANY AND MANAGEMENT AS WELL AS FINANCIAL STATEMENTS.

NEITHER THE TENDER OFFER MEMORANDUM NOR THIS PRESS RELEASE CONSTITUTES AN
OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY EXISTING NOTES.
THE TENDER OFFER IS BEING MADE SOLELY BY THE TENDER OFFER MEMORANDUM. TENDERS
OF EXISTING NOTES WILL NOT BE ACCEPTED FROM HOLDERS IN JURISDICTIONS WHERE
SUCH OFFER OR SOLICITATION IS UNLAWFUL.

THIS PRESS RELEASE, THE TENDER OFFER MEMORANDUM AND ANY OTHER DOCUMENTS
RELATED TO THE TENDER OFFER ARE NOT BEING AND MUST NOT UNDER ANY
CIRCUMSTANCES BE DISTRIBUTED TO BENEFICIAL OWNERS OF EXISTING NOTES WHO ARE
LOCATED OR RESIDENT IN THE UNITED STATES OR THE REPUBLIC OF ITALY, AND
PERSONS RECEIVING THIS ANNOUNCEMENT MUST NOT DISTRIBUTE IT OR ANY RELATED
DOCUMENTS TO SUCH PERSONS.

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO BUY OR SELL NOR A
SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES REFERRED TO HEREIN,
NOR SHALL THERE BE ANY SALE OF SUCH SECURITIES IN ANY STATE OR JURISDICTION
IN WHICH SUCH AN OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. NO ACTION HAS
BEEN OR WILL BE TAKEN TO PERMIT A PUBLIC OFFERING OF ANY SECURITIES, OR A
TENDER OFFER FOR ANY SECURITIES, IN ANY JURISDICTION, INCLUDING THE UNITED
KINGDOM.

Pascal Remy, S.P.C.M. SA., +33-4-77-36-86-00