Chemtura Reports Fourth Quarter and Full Year 2006 Results.

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Chemtura Reports Fourth Quarter and Full Year 2006 Results.

MIDDLEBURY, Conn. -- Chemtura Corporation (NYSE: CEM; the "Company") reported today a loss from continuing operations for the fourth quarter of 2006 of $145.9 million, or $0.61 per diluted share, and a loss from continuing operations on a non-GAAP basis of $3.3 million or $0.01 per diluted share. The discussion below includes information on both a GAAP and non-GAAP basis. The Company has presented the non-GAAP financial information because the Company's management uses the non-GAAP information internally to evaluate and manage the performance of the Company's operations, and management believes that the non-GAAP financial information provides useful information to investors. A reconciliation of the GAAP and non-GAAP financial information has been provided in the supplemental schedules included in this release.

The following is a summary of the fourth quarter and full year results:

[TABLE OMITTED] The following is a summary of the fourth quarter and full year 2006 results on a non-GAAP basis as compared with the fourth quarter and full year 2005 results on a pro forma and non-GAAP basis. The pro forma basis reflects the impact of the merger with Great Lakes Chemical Corporation (the Merger) as if it occurred on January 1, 2005, which has been set forth in the supplemental disclosures attached to this press release:

[TABLE OMITTED] "Although we have made progress on a number of fronts during 2006 - strengthening our balance sheet, resolving legacy antitrust issues, reshaping our portfolio, and generating cash, results are below our expectations," said Robert Wood, chairman and CEO. "Most of the underperformance was in Rubber Additives, EPDM Polymers and non-Flame Retardant Plastics Additives. We have taken steps and have gained momentum coming into 2007 by addressing all of these matters with the announced divestiture of Rubber Chemi...

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