LEHIGH VALLEY, Pa., Aug 13, 2002 /PRNewswire-FirstCall via COMTEX/ -- Today, Air Products and Chemicals, Inc.'s (NYSE: APD) Chairman, President and Chief Executive Officer (CEO), John P. Jones, and Vice President and Chief Financial Officer (CFO), John R. Owings, signed and filed sworn statements in compliance with the U.S. Securities and Exchange Commission's June 27th directives and the new Sarbanes-Oxley Act of 2002.

The Sarbanes-Oxley Act is a new Federal law which requires CEOs and CFOs of publicly traded companies to certify their financial statements. The certifications filed by Air Products today cover the company's 2001 Annual Report on form 10-K, the 2001 proxy statement and Air Products' 10-Q and 8-K reports for the first three quarters of fiscal 2002.

"Integrity has been a core value of Air Products since our founding more than 60 years ago," said Jones. "In fact, research among our key stakeholder audiences has shown that the three characteristics of understanding, passion and integrity are what differentiate us as a customer-focused company. Today, John and I have certified our past financial statements with no changes as a testament to the integrity of our financial process."

The company also commented on the current topic of expensing stock options.

"In our Annual Report, we disclose what the net income and earnings per share impact would be if options were treated as an expense, and we have been doing so since 1997," said Owings. "We support initiatives that are underway to ensure that companies accurately measure and report corporate performance. However, we are focused on maintaining consistency in our financial reporting, and we do not want to arbitrarily change our current accounting approach and potentially create confusion for our shareholders. We will continue to monitor current developments and comply as regulations change."

Air Products and Chemicals, Inc. (www.airproducts.com) is the world's only combined gases and chemicals company. Founded more than 60 years ago, the business has annual revenues of $5.7 billion and operations in 30 countries. Air Products is a market leader in the global electronics and chemical processing industries, and a longstanding innovator in many industrial markets, including coatings, adhesives and polyurethanes. The company distinguishes itself through its 18,000 employees around the world, who build lasting relationships with their customers and communities based on understanding, integrity and passion.

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SOURCE Air Products and Chemicals, Inc.

CONTACT:          Media Inquiries, Catherine E. McDonald, +1-610-481-3673, or
                  mcdonace@apci.com, or Investor Inquiries, Alexander W. Masetti,
                  +1-610-481-7461, or masettaw@apci.com, both of Air Products and Chemicals

URL:              http://www.airproducts.com 
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