LEHIGH VALLEY, Pa., Mar 17, 2003 /PRNewswire-FirstCall via COMTEX/ --

Chemical and Process Industries (CPI) to Benefit From New Product Offering

Air Products and Chemicals, Inc. (NYSE: APD) today announced an environmental solution that has the potential to save companies in non-attainment regions millions of dollars in environmental compliance costs.

Air Products Environmental Solutions initiative, part of its growing Service and Solutions business area, has developed a patent-pending business method that simultaneously evaluates plant and industry environmental capital costs, emission forecasts, allowance caps and production options, and delivers a unique array of cost-effective environmental solutions. Designed to solve the complex decisions in selecting and continuously adjusting an environmental strategy, Air Products Environmental Solutions capabilities can provide significant investment savings while increasing or maintaining operating flexibility.

"The Environmental Solutions initiative is built upon a novel method. This method combines our operational and environmental experience, advanced modeling techniques developed by our computational modeling center, risk management skills required to balance investment and allowance arrangements, and proprietary pollution control technologies," said David Ashworth, director, Chemical and Process Industries Global Services and Solutions at Air Products.

The Air Products patent-pending business method produces options that are otherwise unavailable through today's existing emissions trading programs. This new business method has the ability to identify the lowest cost of emission control in a non-attainment region, and makes these lower cost opportunities progressively available to the entire region. This allows companies to improve the overall rates of return on environmental compliance projects. Unlike emissions trading programs, Air Products' method allows companies to evaluate investment opportunities with more economic certainty, and secure a transaction between the contracting parties prior to any investment being made. This ability reduces allowance pricing, operational, and overall project risk.

"Air Products Environmental Solutions has the ability to produce similar savings in other emerging environmental trading areas within the United States and throughout the world," said Bruce Snyder, global services marketing manager for Chemical and Process Industries at Air Products.

Air Products Environmental Solutions initiative will be initially introduced in Texas' Houston Galveston region in March 2003.

Air Products serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. The company is the largest global supplier of electronic materials, hydrogen, helium and select performance chemicals. Founded in 1940, Air Products is recognized for its innovative culture, operational excellence and commitment to safety and the environment. With annual revenues of $5.4 billion and operations in over 30 countries, the company's 17,200 employees build lasting relationships with their customers and communities based on understanding, integrity and passion. For more information, visit www.airproducts.com.

***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.

SOURCE Air Products and Chemicals, Inc.

CONTACT:          Media Inquiries: Art George, +1-610-481-1340, e-mail:
                  georgeaf@apci.com; or Investor Inquiries: Alexander W. Masetti,
                  +1-610-481-7461, e-mail: masettaw@apci.com

URL:              http://www.airproducts.com 
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