Focus: Shareholder Objectives, Company's Four Growth Platforms and Opportunities in Asia

LEHIGH VALLEY, Pa. (February 11, 2003) — On February 13th, Air Products' (NYSE:APD) Chairman, President and Chief Executive Officer, John Jones, will address Morgan Stanley's Global Chemical Conference in New York City. The presentation will be audio Webcast at 9:00 a.m. EST and will be available at Air Products' Investor Information website.

Mr. Jones will speak for approximately 45 minutes about Air Products' financial objectives, four key growth platforms for its gases, chemicals and equipment, and its growing market positions throughout Asia, in particular, mainland China and Taiwan.

Air Products' four growth platforms—Electronics, Refinery Hydrogen and Energy Solutions, Healthcare and Performance Materials—represent over half of the company's sales. Air Products holds the leading global position in serving the electronics and refinery hydrogen markets, and has a long track record of delivering double-digit average top line growth in both these areas and in its healthcare business. Air Products' newest platform, Performance Materials, grows at two times the GDP, but with new products under development, the company expects average double-digit top line growth for it as well.

Air Products also is diversified geographically, with over half of its sales outside of the U.S. The company has had ongoing operations in Asia for well over 20 years, and since 1996, has grown at a 15 percent compounded rate to over $1 billion in sales, including affiliates. By combining its technology, processes and global capabilities with a strong and connected local market presence, Air Products has become the #2 overall industrial gases supplier in Asia, excluding Japan. Mr. Jones will specifically address how Air Products is leveraging its growth platforms to expand in the region.

Air Products and Chemicals, Inc. (www.airproducts.com) is the world's only combined gases and chemicals company. Founded more than 60 years ago, the company has revenues of $5.5 billion and operations in 30 countries. Air Products is a market leader in the global electronics and chemical processing industries, and a longstanding innovator in many industrial markets, including coatings, adhesives and polyurethanes. The company distinguishes itself through its 17,500 employees around the world, who build lasting relationships with their customers and communities based on understanding, integrity and passion.