Texas Petrochemicals Elects New Board Members and Expands the Size of Its Board of Directors

HOUSTON, May. 09 /PRNewswire/ --

HOUSTON, May 9 /PRNewswire-FirstCall/ -- Texas Petrochemicals, Inc. , a Houston based petrochemical company that provides a diverse range of quality products to chemical and refining companies worldwide, recently announced the election of its new board of directors at its 2007 Annual Meeting of Stockholders and unanimously voted to expand the Company's Board of Directors to eight members, with the additional three members elected by the stockholders.

"We believe expanding the composition of the board provides a better balance and strengthens the expertise and leadership guiding the Company, for the benefit of all stakeholders, as we move forward in our plans to register with the SEC later this year," said Charlie Shaver, president and CEO of TXPI.

Existing board members re-elected to serve another one-year term to expire at the 2008 Annual Meeting are Mr. Mark Demetree; Mr. Kevin Flannery; Mr. Charles Shaver; Mr. Tyrone Thayer, and Mr. John Robbins. The newly elected members of the board are Mr. Kenneth Glassman; Mr. James Cacioppo and Mr. Sergey Vasnetsov.

Mr. Glassman joined Sandell Asset Management as a Senior Managing Director in January 2006. Prior to Sandell Asset Management, he served as Managing Director, Portfolio Manager and co-Head of the firm's 18-person High Yield and Distressed Investment group of Goldman, Sachs & Co.

Mr. Cacioppo is co-portfolio manager of One East Capital Advisors, LP, and investment adviser, a position he has held since March 2006. From July 2002 through January 2006, Mr. Cacioppo served as President and Co-portfolio Manager of Sandell Asset Management Corp. and Castlerigg Master Investments Ltd.

Mr. Vasnetsov leads a chemical research team responsible for coverage of 19 major US chemical companies, including DuPont, Dow Chemical, PPG, Monsanto, Praxair, Air Products, Rohm & Haas, Celanese and Valspar. He has 11 years of chemical research experience, both in academic and applied industrial areas, and 12 years of Wall Street financial and economic research experience. Since 1996, Mr. Vasnetsov has been working on Wall Street, specializing in economic and financial research of the US chemical industry.

Headquartered in Houston, Texas, Texas Petrochemicals, Inc. is a premier chemical company with more than $1.8 billion in annual sales. Its products are sold to a wide range of performance, specialty and intermediate markets, including synthetic rubber, fuel additives, plastics and detergents. The Company has manufacturing facilities in the industrial corridor adjacent to the Houston Ship Channel, Port Neches and Baytown, Texas and operates a product terminal in Lake Charles, Louisiana. For more information on the Company and a complete bio on all board members, visit the Company's web site at http://www.txpetrochem.com.

Cautionary Information Regarding Forward-Looking Statements

Certain oral and written information that the company may make publicly available from time to time may constitute forward-looking statements. Such statements may relate to future operating results, existing and expected competition, financing and refinancing sources and availability, and plans related to strategic alternatives or other future expansion activities and capital expenditures. Forward-looking statements involve a number of risks and uncertainties that may significantly affect the company's liquidity and results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, those related to effects of competition, leverage and debt service, financing and refinancing efforts, litigation and governmental investigations, environmental laws and regulations, general economic conditions and changes in laws or regulations.

Investor Relations Contact: Robert Whitlow Email: robert.whitlow@txpetrochem.com Phone: 713-627-7474 Contact: Ruth Dreessen Email: ruth.dreessen@txpetrochem.com Phone: 713-627-7474 Media Relations Contact: Sara Cronin Email: sara.cronin@txpetrochem.com Phone: 713-627-7474