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Rhodia (NYSE:RHA) today announced its Rhodia Energy Services enterprise will implement the first initiatives to optimize the value of the Carbon Emissions Receipts (CERs) generated from projects to reduce greenhouse gas emissions at plants in South Korea and Brazil, launched under the Kyoto Protocol's Clean Development Mechanism (CDM). Rhodia Energy Services has established the first stage of a hedging strategy involving the forward sale of 8 million tons of CERs, of which 6.5 million will be sold at a price of 15/tons euros to be spread equally over 2007 and 2008. Rhodia Energy Services has also signed an agreement to create an equally-owned joint venture with Societe Generale Energie, a wholly-owned subsidiary of Societe Generale. The two partners will transfer all their emissions credits activities to the new company, which, in particular, will sell the credits generated by Rhodia's projects in South Korea and Brazil. Societe Generale Energie will provide its expertise and infrastructure to the new company. Rhodia Energy Services has also formed a technical partnership with IXIS Environnement & Infrastructures, a wholly-owned subsidiary of IXIS Corporate & Investment Bank. The goal is to leverage the partners' expertise to help manufacturers develop projects that generate emissions credits, as provided for in the Kyoto Protocol's flexibility mechanisms. "Together, these short and medium-term initiatives will allow us to maximize the value from the opportunities offered by projects developed under the Kyoto Protocol, in the best interests of Rhodia and its shareholders," said Rhodia Chief Executive Officer Jean-Pierre Clamadieu. Rhodia's projects to reduce greenhouse gas emissions reflect the Group's proactive, assertive commitment to limiting the environmental impact of its operations. Societe Generale is one of the largest financial services groups in the euro-zone. The group employs 103,000 people worldwide in three key businesses: -- Retail Banking & Financial Services: Societe Generale serves about 19 million individual customers worldwide. -- Global Investment Management & Services: Societe Generale is one of the largest banks in the euro-zone with 1,418 billion euros in assets under custody and 386 billion euros under management at December 31, 2005. -- Corporate & Investment Banking: Societe Generale Corporate & Investment Banking ranks among the leading banks worldwide in euro capital markets, derivatives and structure finance. Societe Generale is included in four major socially-responsible investment indexes. www.socgen.com Societe Generale Energie, a wholly-owned Societe Generale subsidiary, is specialized in trading on physical and derivative markets in farm commodities, energy, precious metals, and ferrous and non-ferrous metals. IXIS Corporate & Investment Bank is Groupe Caisse d'Epargne's financing and investment arm. It provides a range of high value-added financial services to institutional investors, corporations, financial institutions and local governments. IXIS Environnement & Infrastructures is a certified management firm. It handles several environment and infrastructure funds, including the European Carbon Fund, the first of its kind in Europe. Initiated by Caisse des Depots and Fortis Banque in 2005, the European Carbon Fund (ECF) is a SICAV under Luxembourg law. ECF raised 142 million euros from 14 investors, mainly European, such as banks, insurance companies and investment funds. The purpose of the Fund is to combat greenhouse gases via the acquisition of carbon emissions under the Kyoto Protocol. Rhodia Energy Services, which manages the Group's energy supplies, is responsible for the projects developed by Rhodia to reduce its greenhouse gas emissions within the framework of the Kyoto Protocol. Rhodia is a global specialty chemicals company recognized for its strong technology positions in Performance Materials, Functional Chemicals and the Organics and Services clusters. Partnering with major players in the automotive, electronics, pharmaceuticals, agrochemicals, consumer care, tires, and paints and coatings markets, Rhodia offers tailor-made solutions combining original molecules and technologies to respond to customers' needs. Rhodia subscribes to the principles of Sustainable Development communicating its commitments and performance openly with stakeholders. Rhodia generated sales of 5 billion euros in 2005 and employs around 19,500 people worldwide. Rhodia is listed on the Paris and New York stock exchanges. This press release is available at www.rhodia.com