PCAS

Earnings Release • Jul 23, 2012

Longjumeau, July 23rd, 2012

Business buoyant over the first half of 2012

(in thousands of euros)	H1-2012	H1-2011	% change
Sales	89 361	85 842	+4.1%
including Pharmaceutical Synthesis	55 364	53 604	+3.3%
including Fine Speciality Chemicals	33 997	32 238	+5.5%
(unaudited data)

The PCAS Group achieved 4.1% growth in consolidated sales for the first half of 2012 compared with 2011.

Pharmaceutical Synthesis

Revenues are up 3.3%. Excluding the contract between PCAS and Sanofi, this division's sales increased by 7.7% compared with the first half of 2011.

Fine Specialty Chemicals

The Fine Specialty Chemicals business has recorded 5.5% growth over 2012, driven by New Technologies lines, while the Performance Chemicals and Fragrance-Flavor-Cosmetics activities contracted slightly over the period.

As a result, the Group's earnings at the end of June 2012 will come in significantly higher than the first half of 2011.

The second half of the year should see as well an increase of volume of business, stronger than the second half of 2011.

The full consolidated half-year accounts will be reviewed and approved by the Board of Directors on September 6th.

About PCAS :

Founded in 1962, PCAS is a fine and specialty chemicals group that shares an ambition for excellence with its customers, which primarily include market-leading international groups. PCAS designs and delivers the best industrial solutions for its customers' specific expectations. These various expectations all share a common demand for safety, quality, competitiveness, innovation and sustainability.

Financial communications: Vincent Touraille - Eric Moissenot | +33 (0)1 69 09 77 85 | www.pcas.com