Albemarle Corporation Enters into Letter of Intent to Acquire Sorbent Technologies Corporation

RICHMOND, Va. and TWINSBURG, Ohio, April 11 /PRNewswire-FirstCall/ -- Albemarle Corporation NYSE: ALB and Sorbent Technologies Corporation PinkSheets: SORB today jointly announced that they have signed a letter of intent for Albemarle, a leading global developer, manufacturer and marketer of highly-engineered specialty chemicals, to acquire Sorbent Technologies, a full-service power plant mercury control provider.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO )

The transaction will be an all-cash transaction in which the shareholders of Sorbent Technologies could receive approximately $5.75 per share of common stock, which represents an aggregate purchase price of $20 million plus certain anticipated adjustments. The completion of the transaction is subject to certain typical conditions, including Sorbent Technologies shareholder approval.

"Escalating energy demands and the global call for environmentally sound power generation have converged to present tremendous opportunity for Albemarle's leading bromine chemistry, as utilities and industrial plants seek cost-effective solutions to reduce emissions," said Mark C. Rohr, president and chief executive officer.

"Mercury removal from coal-fired power plants is an important focus area for utilities, and Sorbent Technologies has been a pioneer in using bromine-based mercury control solutions to meet this challenge," Rohr continued. "Their proprietary and comprehensive technologies will broaden our current bromine offerings, and allow us to bring innovative, turnkey solutions to utilities and other bromine-based mercury solutions providers in the industry. This acquisition complements our existing green solutions portfolio and our ongoing mission to provide innovative, yet viable, clean energy products and services to the marketplace."

"We expect that Albemarle's production expertise and reputation for commercializing innovations in chemistry will provide us with a strong platform from which to extend our reach into quickly growing power plant emission control markets," said Sid Nelson Jr., Sorbent Technologies' president.

About Albemarle Corporation

Albemarle Corporation, headquartered in Richmond, Virginia, is a leading producer of specialty chemicals for consumer electronics; transportation and industrial products; pharmaceuticals; agricultural products; construction and packaging materials. The company's three business segments, Polymer Additives, Catalysts and Fine Chemicals (which includes custom manufacturing services for the life sciences market) serve customers in nearly 100 countries, generating annual revenue of approximately $2.4 billion. Learn more about Albemarle at http://www.Albemarle.com.

About Sorbent Technologies Corporation

Sorbent Technologies is a full-service power plant mercury control provider, supplying a variety of specialty mercury sorbents, the advanced sorbent injection systems that utilize them, and mercury testing and demonstration services. Learn more about Sorbent Technologies at http://www.SorbentTechnologies.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release relating to future events and other disclosures and statements that are not historical facts are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from these forward-looking statements as a result of market conditions, the actions by third parties, and many other factors. For a discussion of such risks and uncertainties related to Albemarle, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in Albemarle's Annual Report on Form 10-K for the year ended December 31, 2007. Each of Albemarle and Sorbent Technologies disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.