Tianhe Chemicals Group Announces Strategic Partnership with Morgan Stanley Private Equity Asia

Hong Kong —

(March 21, 2012 – Beijing, China) – Tianhe Chemicals Group (“Tianhe” or the “Company”), a leading specialty chemicals company in China, today announced the closing of a strategic partnership with Morgan Stanley Private Equity Asia (“MSPE Asia”), including a US$300 million equity investment by MSPE Asia. In addition, Mr. Homer Sun, MSPE Asia’s Chief Investment Officer, will join the board of the Company.

Tianhe is China’s largest producer of lubricant oil additives and a leading global producer of specialty fluorochemicals. Tianhe’s lubricant oil additives provide key chemical functionality such as friction reduction, cleansing and heat dissipation to motor oil and other finished lubricants. The Company also produces high-end specialty fluorochemicals that have a wide range of applications in repellency, surfactants and solvents.

Mr. Xuan Wei, Chief Executive Officer of Tianhe, said, “We are pleased to forge this strategic partnership with one of Asia’s leading private equity investors. MSPE Asia brings deep experience adding value to companies in China coupled with industrials expertise and global resources, and we look forward to working together to expand our global market reach and increase cooperation with overseas partners.”

Mr. Homer Sun added, “We are very excited to enter into a long-term partnership with the outstanding management team of this Chinese specialty chemicals champion that has developed world-class R&D capabilities. We expect to closely collaborate to support Tianhe’s transition from a domestic leader to a major global player in specialty chemicals.”

About Tianhe Chemicals Group

A leading specialty chemicals producer in China, Tianhe is the largest lubricant oil additive producer in China and a leading high-end specialty fluorochemical producer globally. Established in 1992 in Jinzhou, Liaoning Province, Tianhe employs more than 1,200 people with three manufacturing bases. For more information, please visit the Company’s website at http://www.tianhechem.com.

About Morgan Stanley Private Equity Asia

Morgan Stanley Private Equity Asia is one of the leading private equity investors in Asia Pacific, having invested in the region for over 19 years. The team has invested approximately US$2.4 billion in Asia, primarily in highly structured minority investments and control buyouts in profitable, growth-oriented companies. MSPE Asia has offices located in Hong Kong, Shanghai, Mumbai, Seoul, Tokyo and New York.

Tianhe – Public Relations:

Lei Zhang

+86 10 6539 0778

Morgan Stanley – Media Relations:

Nick Footitt

+852 2848 6847

nick.footitt@morganstanley.com