10:02     TITAN PETROCHEM<01192> - Announcement & Resumption (1)              

    This announcement is not an offer to sell or a solicitation of an offer   
    to buy any securities and neither this announcement nor anything          
    herein forms the basis for any contract or commitment whatsoever.         
    Neither this announcement nor any copy thereof may be taken into or       
    distributed in the United States. Securities may not be offered or        
    sold in the United States absent registration or an exemption from        
    registration under the Securities Act. The Company does not intend        
    to register any part of the proposed offering in the United States.       
    The securities described herein will be sold in accordance with all       
    applicable laws and regulations.                                          
                                                                              
    TITAN PETROCHEMICALS GROUP LIMITED                                        
    (incorporated with limited liability under the laws of Bermuda)           
                                                                              
    ISSUANCE OF US$400 MILLION 8.50% GUARANTEED SENIOR NOTES DUE 2012         
                                                                              
    On 10th March, 2005, the Company, the Subsidiary Guarantors and the       
    Subsidiary Guarantor Pledgors entered into a Purchase Agreement with      
    MSIL and CSFB in connection with the issue and sale of US$400 million     
    8.50% guaranteed senior notes due 2012 with bullet repayment.             
                                                                              
    The Company has received approval-in-principle from the SGX-ST for        
    the listing of the Notes on the Official List of the SGX-ST. Admission    
    of the Notes to the SGX-ST is not to be taken as an indication of the     
    merits of the Company or the Notes.                                       
                                                                              
    The Notes have been assigned a rating of ``B+'' by S&P and ``B1'' by      
    Moody's. A credit rating is not a recommendation to buy, sell or hold     
    securities and may be subject to revision, suspension or withdrawal       
    at any time by the relevant rating organization. The Company has a        
    corporate credit rating of ``BB-'' and ``outlook stable'' by S&P and      
    a ``Ba3'' corporate credit rating by Moody's.                             
                                                                              
    Resumption of Trading                                                     
                                                                              
    At the request of the Company, dealings in the Shares on the Stock        
    Exchange were suspended with effect from 9:30 a.m. on 11th March, 2005    
    pending the release of this announcement. Application has been made       
    for the resumption of trading in the Shares on the Stock Exchange with    
    effect from 9:30 a.m. on 14th March, 2005.                                
                                                                              
    Introduction                                                              
                                                                              
    Reference is made to the announcement of the Company dated 28th           
    February, 2005 relating to the Issue. The Board is pleased to announce    
    that on 10th March, 2005, the Company, together with the Subsidiary       
    Guarantors and the Subsidiary Guarantors Pledgors, entered into the       
    Purchase Agreement with MSIL and CSFB in connection with the issue        
    and sale of the Notes in the aggregate principal amount of US$400         
    million.                                                                  
                                                                              
    Parties to the Purchase Agreement                                         
                                                                              
    (a)   the Company as the issuer;                                          
                                                                              
    (b)   the Subsidiary Guarantors;                                          
                                                                              
    (c)   the Subsidiary Guarantor Pledgors; and                              
                                                                              
    (d)   MSIL and CSFB, the initial purchasers                               
                                                                              
    MSIL, the sole bookrunner and lead manager in respect of the offer        
    and sale of the Notes, and CSFB, are the initial purchasers of the        
    Notes. Each of MSIL and CSFB is an Independent Third Party. Pursuant      
    to the terms of the Purchase Agreement, MSIL and CSFB will purchase       
    the Notes at the Offer Price.                                             
                                                                              
    The Notes will not be registered under the Securities Act, and will       
    be offered by MSIL and CSFB only (a) to qualified institutional buyers    
    in reliance on the exemption from registration requirements of the        
    Securities Act provided by Rule 144A, (b) to a limited number of          
    institutional accredited investors in transactions exempt from the        
    Securities Act and (c) outside the United States in compliance with       
    Regulation S under the Securities Act. The Notes sold to qualified        
    institutional buyers are expected to be eligible for trading in           
    PORTAL.                                                                   
                                                                              
    Principle Terms of the Notes                                              
                                                                              
    The Notes will be due in 2012 with bullet repayment, unless earlier       
    redeemed pursuant to their terms. The Notes will bear interest at the     
    rate of 8.50%, payable semi-annually in arrears on 18 March and 18        
    September of each year, commencing 18th September, 2005.