Solutia Will Exit Bankruptcy on Thursday

St. Louis, MO, February 26, 2008-- Solutia Inc. said Tuesday it has received court approval for its $2.05 billion exit financing package and the company plans to emerge from Chapter 11 bankruptcy on Thursday.

Under the exit-financing agreement, Citigroup Global Markets Inc., Goldman Sachs Credit Partners L.P., and Deutsche Bank Securities Inc. will fund the exit financing on Thursday, when Solutia's plan of reorganization will become effective.

The sides came to an agreement after Solutia filed suit, seeking to force the banks to stick to the financing deal. The banks had pulled out of the agreement, citing deteriorating conditions in the credit market.