Transfer Agent and Registrar:
American Stock Transfer and Trust Company
59 Maiden Lane, New York, NY 10038
Telephone: 800-937-5449
Internet: www.amstock.com
E-mail: info@amstock.com

Notice of Annual Meeting and Proxy Statement – mailed to shareholders in mid-December and available electronically on our Web site at www.airproducts.com/invest/.

Form 10-K Report – filed annually with the Securities and Exchange Commission at the end of November.

Earnings Information – shareholders and investors can obtain copies of earnings releases, Annual Reports, 10-Ks and news releases by dialing 800-AIR-6525. Shareholders and investors can also register for e-mail updates on our Web site.

Dividend Policy
Dividends on Air Products’ common stock are declared by the board of directors and, when declared, usually will be paid during the sixth week after the close of the fiscal quarter. It is the Company’s objective to pay dividends consistent with the reinvestment of earnings necessary for long-term growth.

Direct Investment Program
Current shareholders and new investors can conveniently and economically purchase shares of Air Products’ common stock and reinvest cash dividends through American Stock Transfer and Trust Company. Registered shareholders can purchase shares on American Stock Transfer and Trust’s Web site, www.investpower.com. New investors can obtain information on the Web site or by calling 877-322-4941 or 718-921-8200.

Annual Meeting
The annual meeting of shareholders will be held on Thursday, January 24, 2008, 2:00 p.m., at Cedar Crest College, Allentown, Pennsylvania.

Terminology
The term Air Products and Chemicals, Inc., as used in this Report, refers solely to the Delaware corporation of that name. The use of such terms as Air Products, Company, division, organization, we, us, our and its, when referring to either Air Products and Chemicals, Inc. and its consolidated subsidiaries or to its subsidiaries and affiliates, either individually or collectively, is only for convenience and is not intended to describe legal relationships. Significant subsidiaries are listed as an exhibit to the Form 10-K Report filed by Air Products and Chemicals, Inc. with the Securities and Exchange Commission. Groups, divisions or other business segments of Air Products and Chemicals, Inc. described in this Report are not corporate entities.

Annual Certifications
The most recent certifications by our Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes- Oxley Act of 2002 are filed as exhibits to our Form 10-K. We have also filed with the New York Stock Exchange the most recent Annual CEO Certification as required by Section 303A.12(a) of the New York Stock Exchange Listed Company Manual.

Additional Information
The forward-looking statements contained in this Report are qualified by reference to the section entitled “Forward-Looking Statements” on page 36 of the Financials section.

Acknowledgments
Design and Production: Visual Communications
Photography: Theo Anderson, Jack Lerch, Jozef Wolny, Black Star Photography
Printing: Hoechstetter Printing, Pittsburgh, Pennsylvania

2007 Quarterly Stock Information

	High	Low	Close	Dividend
First	$72.45	$66.19	$70.28	$.34
Second	78.63	68.58	73.96	.38
Third	82.74	73.30	80.37	.38
Fourth	98.51	77.26	97.76	.38
				$1.48

2006 Quarterly Stock Information

	High	Low	Close	Dividend
First	$61.89	$53.00	$59.19	$.32
Second	68.10	58.01	67.19	.34
Third	69.54	59.18	63.92	.34
Fourth	68.48	60.92	66.37	.34
				$1.34