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KoSa Completes Ownership Change

December 12, 2001

Houston, TX (USA) - KoSa, a leader in the polyester industry, announced that its ownership change has been completed.

Through subsidiaries, Koch Industries, Inc., previously a 50 percent shareholder, has become the sole owner of the company after purchasing the 50 percent ownership position held by the company's partner in the venture, IMASAB S.A. de C.V.

"KoSa will remain a separately managed company and will be completely independent of Koch Industries, Inc.," said Bill Caffey, KoSa's chairman of the board of directors.

The purchase was completed following approval by all appropriate domestic and international regulatory and trade authorities. "The acquisition will have a positive effect on KoSa," said George Gregory, KoSa's chief executive officer. "Having one owner provides KoSa with more accountability and a faster decision-making process which will allow the company to better serve its customers and respond to the marketplace.

"While the ownership of KoSa has changed, our commitment to continue supplying outstanding products and services in each or our global businesses remains unchnaged," said Caffey.

KoSa's global headquarters will remain in Houston, TX, and its regional headquarters will stay in Charlotte, NC; Frankfurt, Germany; and Mexico.

KoSa is a leading, global producer of commodity and specialty polyester fibers, polymers and intermediates. The company employs approximately 8,000 people worldwide.

Koch Industries, Inc., based in Witchita, Kansas, owns a diverse group of companies engaged in trading, investment and operations worldwide. More information is available at www.kocind.com.


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