Court Orders Banks to Not Impair or Terminate Merger Financing Prior to a Full Hearing

THE WOODLANDS, Texas, Sept 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Huntsman
Corporation (NYSE: HUN) today sued affiliates of Credit Suisse and Deutsche
Bank (the "Banks"), lenders who had signed an agreement committing them to
finance the merger of Huntsman and Hexion Specialty Chemicals, Inc. The
lawsuit, filed in Montgomery County, Texas, alleges that the Banks were
conspiring with Apollo Management, L.P. to interfere with Huntsman's previous
merger agreement with Basell, interfere with a later Merger Agreement with
Hexion and usurp for their own benefit substantial and valuable rights that
belonged to Huntsman. Huntsman requested temporary and permanent injunctive
relief to prevent the Banks from continuing to interfere and thwart Huntsman's
rights under the Merger Agreement with Hexion.

This afternoon, District Judge Fred Edwards of the Montgomery County Texas
District Court awarded a Temporary Restraining Order in favor of Huntsman.
Judge Edwards found that irreparable harm would result if the Banks were not
immediately enjoined from terminating their financing commitment pending a
full hearing on Huntsman's request for a temporary injunction. Accordingly,
Judge Edwards ordered that the Banks, among other things, must not take any
action that could reasonably be expected to materially impair, delay,
terminate, or prevent consummation of the financing contemplated by the
agreement between the Banks and Hexion.

Commenting on this latest court victory, Huntsman's President and CEO,
Peter R. Huntsman, stated, "We are grateful for today's decision by Judge
Edwards, which comes on the heels of Vice Chancellor Lamb's decision yesterday
to similarly enjoin Apollo and Hexion from further attempting to not comply
with the terms to which Hexion had agreed. We believe these two court rulings
will allow the parties to move quickly to consummate the financing and the
merger."

About Huntsman:

Huntsman is a global manufacturer and marketer of differentiated
chemicals. Its operating companies manufacture products for a variety of
global industries, including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction, technology,
agriculture, health care, detergent, personal care, furniture, appliances and
packaging. Originally known for pioneering innovations in packaging and,
later, for rapid and integrated growth in petrochemicals, Huntsman today has
13,000 employees and operates from multiple locations worldwide. The Company
had 2007 revenues of approximately $10 billion. For more information about
Huntsman, please visit the company's website at http://www.huntsman.com.

Forward-Looking Statements:

Statements in this release that are not historical are forward-looking
statements. These statements are based on management's current beliefs and
expectations. The forward-looking statements in this release are subject to
uncertainty and changes in circumstances and involve risks and uncertainties
that may affect the company's operations, markets, products, services, prices
and other factors as discussed in the Huntsman companies' filings with the
U.S. Securities and Exchange Commission. Significant risks and uncertainties
may relate to, but are not limited to, financial, economic, competitive,
environmental, political, legal, regulatory and technological factors. In
addition, the completion of any transactions described in this release is
subject to a number of uncertainties and closing will be subject to approvals
and other customary conditions. Accordingly, there can be no assurance that
such transactions will be completed or that the company's expectations will be
realized. The company assumes no obligation to provide revisions to any
forward-looking statements should circumstances change, except as otherwise
required by applicable laws.

SOURCE Huntsman Corporation

http://www.huntsman.com

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