E.T. Horn Named Bayer Polymers LLC ``2003 Distributor of the Year''

Business Wire, June 23, 2004

LA MIRADA, Calif. -- The E.T. Horn Company, a leading distributor/supplier of specialty chemicals, today announced that it has been named "2003 Distributor of the Year" by Bayer Polymers LLC. The annual award is based on several factors relating to distributor performance, including communication with Bayer, total sales force activity, yearly sales growth and the number of new accounts.

"We continue to be impressed with the marketing and sales commitment as well as professionalism shown by E.T. Horn in representing Bayer products," said Flo Pippin, Manager of Distributor Sales for Bayer Polymers. "E.T. Horn has won this award several times over the past few years and we look forward to their continued achievements."

"E.T. Horn provides its customers a dedicated technical sales group that's backed by a solid level of support from Bayer Polymers," said Jim Calkin, Vice President of Marketing for E.T. Horn. "Over the years, E.T. Horn has strived to develop this outstanding working relationship with Bayer. It's an honor for us to accept this award as recognition from Bayer Polymers."

"Most of our distributors represent products from a variety of principals," said Pippin. "The Distributor of the Year Award is a significant component of Bayer's Distributor Relations Program. We believe all the elements of this dynamic program motivate our distributors to focus their efforts on promoting and selling Bayer's polymer product line."

"This award is a direct result of E.T. Horn's strategic initiative of working closely with Bayer Polymers," commented Jay Fitzpatrick, E.T. Horn Advanced Materials Group Vice President. "Together we've strived to dramatically improve logistics, control inventories, manage sales and maximize Bayer's reputation in the marketplace." In 2003, E.T. Horn entered into an agreement with Bayer to lease space in Bayer's Carson, CA warehouse facility. Recently, E.T. Horn expanded its warehouse capacity servicing clients in the Pacific Northwest region. "It's our clients who are directly benefiting from the close relationship between E.T. Horn and Bayer Polymers," Fitzpatrick added.

Representatives from the E.T. Horn Company received a commemorative plaque in recognition of its achievement at Bayer's annual Distributors Council meeting in June.

For more information about Bayer Polymers, call 877-662-2927 or visit www.bayerpolymers.com.

Bayer Polymers is a leader in the global industry of performance polymers. The company's materials and solutions are the backbone of modern life, serving primarily the automotive, construction, information technology, appliance, furniture as well as sports and leisure industries. As a member of the global Bayer Group, Bayer Polymers benefits from a wealth of resources while enjoying the flexibility to focus on its primary objective: to be the partner of choice in polymer materials.

Bayer Corporation, headquartered in Pittsburgh, is the U.S. holding company of the worldwide Bayer Group, an international health care and chemicals group based in Leverkusen, Germany. Bayer employs 23,300 in North America with net North American sales of 8.8 billion euros in 2003. Bayer's four operating business areas -- HealthCare, CropScience, Polymers and Chemicals -- produce a broad range of products that help diagnose and treat diseases, purify water, preserve local landmarks, protect crops, advance automobile safety and durability and improve people's lives.

This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

About E.T. Horn Company

The E.T. Horn Company is one of the West's largest distributors of specialty raw materials and chemicals for use in coatings, building materials, elastomers, lubrication, nutrition, cosmetics, personal care and food products. Founded in 1961, the company has focused on providing formulation solutions, superior customer service and technical expertise in distributing products from only the finest manufacturers. For additional information contact the company at 800-442-HORN or visit www.ethorn.com.