ExxonMobil Makes Technology Investment in China

ExxonMobil Chemical Company announced today that it has made the final decision to build a technology center in Shanghai, China to provide product applications support for its growing business in the Chinese and Asian markets.

"Over the next 10 years, we expect roughly 60 percent of the world’s petrochemical growth to occur in Asia, and we are rapidly expanding our manufacturing footprint through major capacity additions in Fujian, China and Singapore," said Steve Pryor, president, ExxonMobil Chemical Company. "The decision to build a technology center in Shanghai reinforces our long-term commitment to China and the region. The new investment will support our growing sales of premium products by providing innovative solutions to customer needs.”

ExxonMobil Chemical is an industry leader in the development and application of premium products that add value through enhanced product performance, energy efficiency, pollution prevention and greenhouse gas emission reduction.

The new technology center will be built and operated by ExxonMobil Asia Pacific Research & Development Company Limited, and will be located in the Shanghai Zizhu Science-based Industrial Park. Laboratories and product demonstration facilities at the center will provide applications technical service and a range of applications development capabilities.

The selection of Shanghai as the site for its new technology center reflects the importance of China in the business development and growth plans for ExxonMobil Chemical Company.

"Asia, particularly China, provides unique growth opportunities for ExxonMobil,” said Robert C. Davis, vice president, Global Technology, ExxonMobil Chemical Company. "This is reflected in our decision to build ExxonMobil Chemical’s newest technology center in China. We look forward to better serving the needs of our customers in China and the region.”

The technology center in Shanghai is expected to be operational in 2010.

About ExxonMobil Chemical

ExxonMobil Chemical is one of the world’s premier petrochemical companies with manufacturing, technology, and marketing operations around the world. The company delivers a broad portfolio of products and solutions efficiently and responsibly, with a commitment to create outstanding customer and shareholder value. ExxonMobil Chemical endorses the principles of sustainable development, including the need to balance economic growth, social development and environmental considerations. To learn more, visit www.exxonmobilchemical.com.

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