Braskem Finance Limited Announces Expiration and Results of Tender Offers and Consent Solicitations for 11.75% Notes Due 2014, 9.375% Notes Due 2015 and 8.00% Notes Due 2017

SAO PAULO, April 20, 2011 /PRNewswire/ -- Braskem Finance Limited ("Braskem Finance") today announced that in connection with 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"), it received, as of 5:00 p.m. (New York City time), on April 20, 2011 (the "Expiration Date"), validly tendered Notes and delivery of related consents in the following amounts: (i) US$165,675,000 in aggregate principal amount of the 2014 Notes, or approximately 66.3% of the outstanding 2014 Notes, (ii) US$84,745,000 in aggregate principal amount of the 2015 Notes, or approximately 56.5% 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$144,301,000 in aggregate principal amount of the 2017 Notes, or approximately 52.5% of the outstanding 2017 Notes.

The full terms and conditions of each Offer are described in the Offer to Purchase and Consent Solicitation Statement, dated April 6, 2011, and the related Letter of Transmittal and Consent (together, the "Offer Documents") previously distributed to holders of the Notes.

Holders of Notes who tendered their Notes prior to the Expiration Date are eligible to receive the applicable purchase price described in the Offer Documents, which includes a consent payment, plus accrued and unpaid interest up to, but not including, the settlement date.  Braskem Finance intends to pay for all Notes validly tendered and accepted for purchase pursuant to the Offers on the settlement date, which is expected to occur on or about April 21, 2011. In addition, on the settlement date, Braskem Finance and Braskem S.A. intend to execute a supplemental indenture or an amendment, as applicable, to the indentures and issuing and paying agency agreement, as applicable, governing each series of Notes (collectively, the "Governing Debt Instruments") which will eliminate substantially all of the restrictive covenants, as well as various events of default and related provisions contained in each of the Governing Debt Instruments (the "Proposed Amendments"). With respect to each of the Governing Debt Instruments, adoption of the Proposed Amendments requires the consents of holders of a majority in aggregate principal amount of the applicable Notes outstanding (excluding any such Notes held by Braskem Finance or its affiliates). Braskem Finance has obtained the requisite consents for the Proposed Amendments for each series of Notes. Any Notes not tendered and purchased pursuant to an Offer will remain outstanding and will be governed by the terms of the applicable Governing Debt Instrument, as amended by the Proposed Amendments.

Braskem Finance 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 (800) 558-3745 (toll free) or (212) 723-6108 (collect), Deutsche Bank Securities Inc. at (866) 627-0391 (toll free) or (212) 250-2955 or Santander Investment Securities Inc. at (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 has been made solely pursuant to the Offer Documents. Each Offer has not been 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.

SPECIAL NOTE REGARDING 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.

SOURCE Braskem Finance Limited