Solutia To Raise $145 Million in Stock Offering

St. Louis, MO, Aug. 21, 2008–Solutia plans to sell 10,714,284 shares of its common stock at a price of $14 per share for net proceeds of approximately $145 million.

Proceeds from the offering will be used to repay the remaining $128 million balance on Solutia’s 15.50 percent bridge credit facility and for general corporate purposes.

The company expects to close the transaction Aug. 26.