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Hans-Ulrich Engel to join BASF’s Board of Executive Directors

Dr. Hans-Ulrich Engel

Wednesday 05. March 2008 - Responsible for Oil & Gas, Europe and Global Procurement & Logistics Supervisory Board elects Michael Diekmann and Robert Oswald as deputy chairmen Consolidated financial statements, stock split and dividend proposal approved

The Supervisory Board of BASF SE has appointed a new member of the Board of Executive Directors in its meeting today: Dr. Hans-Ulrich Engel (48) will be responsible for Oil & Gas, Europe and Global Procurement & Logistics with immediate effect.

In addition, the Supervisory Board elected members Michael Diekmann (chairman of the Board of Management of Allianz SE, Munich) and Robert Oswald (chairman of the works council of the Ludwigshafen site of BASF SE and chairman of the joint works council of BASF) as deputy chairmen of the Supervisory Board.

In a further resolution, the Supervisory Board approved the financial statements of BASF SE for 2007 as well as the consolidated financial statements of BASF Group, which were submitted by the Board of Executive Directors. At the same time, the Supervisory Board approved the dividend proposal of €3.90 per share and the 1:2 stock split suggested by the Board of Executive Directors.

The Board of Executive Directors and the Supervisory Board of BASF SE will therefore propose to the Annual Meeting on April 24, 2008 the payment of an increased dividend of €3.90 per share for 2007 (2006: €3.00). If the proposal is approved by the Annual Meeting, the dividend will be paid out on April 25, 2008. BASF shareholders would thus receive a dividend yield of approximately 4.7 percent relative to the closing price on March 3, 2008.

Hambrecht: “Excellent addition to our team”

With the appointment of Engel, BASF’s Board of Executive Directors will consist of eight members following the Annual Meeting. Engel is a lawyer and has headed BASF’s Legal, Taxes & Insurance division since January 2008. He joined BASF’s Legal department in 1988 and has held a number of responsibilities including Managing Director of BASF Schwarzheide GmbH, head of the Regional Functions NAFTA division at BASF Corporation in the United States, and global project manager for the integration of the catalysts business acquired in 2006.

“Our new colleague will be an excellent addition to the Board team,” said Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors, following the meeting of the Supervisory Board.

Strube thanks global BASF team for its outstanding performance

During the meeting, Supervisory Board Chairman Dr. Jürgen F. Strube paid tribute to the performance of the company’s employees and the success achieved by BASF in 2007: “On behalf of the Supervisory Board, I would like to thank all the members of BASF’s global team, the company’s management and the retiring members of the Board of Executive Directors and Supervisory Board for the outstanding results they have achieved.”

Stock split to be conducted within three months of the Annual Meeting

Following a 1:2 stock split by re-division of the share capital, shareholders would receive one additional share for each BASF SE share held without an additional payment. Shares held in the form of American Depositary Receipts in the United States would also be adjusted accordingly.

If the proposal is approved by the Annual Meeting, the stock split should be performed within three months following the Meeting. The goal of the stock split is to make BASF shares available to an even broader spectrum of investors. In addition, it reflects the confidence of the Board of Executives that BASF’s earnings-oriented growth will continue to be the basis for the positive development of the company’s stock.