The transaction is expected to close on 30 September 2003. The current management team will continue to lead the company, and will also take a participation in the company. After completion of the transaction, the company will trade under the name of 'Taminco', which was the name of the business unit in which the Methylamines & Derivatives business of UCB was grouped together.

This transaction underlines NIB Capital Private Equity's commitment to become the leading player in mid market buyouts in Belgium. The Belgian market is increasingly becoming fertile ground for mid market buyout funds and NIB Capital Private Equity is ideally positioned to take advantage of these opportunities with a dedicated team of buyout specialists in Antwerp.

The future strategy of Taminco is aimed at further strengthening this leading market position by expanding its operations world wide, backed by the financial strength of the global network of NIB Capital Private Equity. Taminco's strategy will further focus on taking advantage of its technological innovations and continuously improving client relationships.

Profile of Taminco
The company is one of the world's largest producers of methylamines, a key building bloc for the pharma and chemicals industry. Furthermore Taminco specialises in a selection of the many methylamine derivatives, serving industries such as agro-chemicals, animal feed additives, specialized solvents, water treatment and surfactants. The company is headquartered in Ghent with 15 sales offices world wide, and has operations in Belgium (Ghent), Germany (Leuna) and China (Shanghai). The Company employs approximately 500 people and generated a turnover of EUR 186 million in 2002.

Pol Vanderhaeghen, Director of Taminco, comments "We are very pleased with the transaction as it creates clarity about the future of Taminco for our clients, employees and other stakeholders. The existing capabilities of the Methylamines and Derivatives business, combined with a strong financial partner, positions the company well to achieve its ambitious growth strategy. Central to the company's strategy is its expansion into new methylamines derivatives markets and geographic expansion."

Volkert Doeksen, Managing Partner and CEO of NIB Capital Private Equity, adds: "We could make good use of our knowledge of this chemicals niche in this transaction, which in terms of size and activity, fits perfectly in our buyout portfolio. We particularly welcome Taminco to our portfolio given its market leadership and entrepreneurial management."