LUDWIGSHAFEN, Germany -- BASF reports higher earnings from stable sales in the second quarter of 2002. The company reports improved earnings in the Chemicals, Plastics & Fibers, and Performance Products segments.

According to Dr. Jurgen F. Strube, chairman of the board of executive directors of BASF Aktiengesellschaft, "We are not idly waiting for an upturn, but are acting now. The structural measures that we were early in implementing are showing their effects. Our cost-reduction program is proceeding according to plan. Our strategy is the right one."

In terms of performance, BASF shares were Number Two in Germany's DAX index and in the EURO STOXX index in the first six months of 2002. Strube interpretedthis as a sign of the confidence placed in BASF to succeed in the face of difficult conditions and despite the persistently weak economic climate.

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