Albemarle Corporation (NYSE: ALB) 330 S. Fourth St., PO Box 1335 Richmond, VA 23219 Phone: 804-788-6000 Fax: 804-788-6020 Toll Free: 800-535-3030 http://www.albemarle.com Employees : 3,000 Revenue : $980,200,000 Net Income : $74,700,000 Assets :$1,193,000,000 Liabilities : $623,100,000 (As of December 31, 2002) Description: Albemarle is a spin-off from Ethyl Corp. (which also spun off Tredegar), the company produces polymer additives and fine chemicals used by a variety of industries. Its polymer additives -- such as catalysts, flame retardants, and curatives -- add desired properties to various plastics. Albemarle's fine chemicals include bromine-based chemicals, agricultural chemicals, and the popular pain reliever ibuprofen. BP Chemicals produces aluminum alkyls, a type of co-catalyst, for the company. Customers include chemical, plastics, pharmaceutical, cleaning products, and paper companies. The Gottwald family, which also owns large stakes in Tredegar and Ethyl, owns about 22% of Albemarle. Ethyl Corp. Bills Albemarle for Asbestos Liability ----------------------------------------------------- Published March 21, 2003 Ethyl Corporation (EY) said it has sent an invoice to Albemarle Corporation (ALB) for $3,700,000 related to asbestos liability obligations. According to its annual report filed with the Securities and Exchange Commission, Albemarle disputes this payment and its obligations for asbestos liabilities. Ethyl said it already has established a receivable from Albemarle for that amount. The Company said Albemarle is responsible for the payment as well as certain current and future liability claims under an indemnification agreement between the parties dated as of February 28, 1994. Under the terms of the agreement, Albemarle is responsible for tax, environmental and certain other exposures related to its operations before Feb. 28, 1994, which was the date Ethyl completed the spinoff of Albemarle. Albemarle manufactures Methylcyclopentadienyl Manganese Tricarbonyl, a fuel additive, for the company under a long-term, exclusive supply arrangement that expires in 2014, according to the filing. Ethyl said it has never manufactured, sold or distributed products that contain asbestos.