Exhibit 99.1
KIRKLAND & ELLIS LLP
Citigroup Center
153 East 53rd Street
New York, New York 10022-4675
Telephone: (212) 446-4800
Facsimile: (212) 446-4900
Richard M. Cieri (RC-6062)
Jonathan S. Henes (JH-1979)
Edward O. Sassower (ES-5823)
Proposed Attorneys for the Debtors and Debtors in Possession
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
- --------------------------------------------------x
:
In re : Chapter 11
:
SOLUTIA INC., ET AL., : Case No. 03-17949 (PCB)
:
Debtors. : (Jointly Administered)
:
- --------------------------------------------------x
THIS MONTHLY OPERATING STATEMENT APPLIES TO:
X All Debtors Axio Research Corporation
- --- ---
Solutia Inc. Solutia Investments, LLC
- --- ---
Solutia Business Enterprises Inc. Beamer Road Management Company
- --- ---
Solutia Systems, Inc. Monchem, Inc.
- --- ---
Solutia Overseas, Inc. Solutia Inter-America, Inc.
- --- ---
CPFilms Inc. Solutia International Holding, LLC
- --- ---
Solutia Management Company, Inc. Solutia Taiwan, Inc.
- --- ---
Monchem International, Inc. Solutia Greater China, Inc.
- --- ---
MONTHLY OPERATING STATEMENT FOR THE
MONTH OF JANUARY 2005(1)
------------------------
<FN>
(1) The information contained in the Debtors' monthly operating report (the
"MOR") is unaudited and is limited to the time period indicated and is
presented in a format prescribed by the bankruptcy court. The MOR does not
purport to represent financial statements prepared in accordance with GAAP
nor is it intended to fully reconcile to the financial statements filed by
Solutia Inc. with the Securities and Exchange Commission. Additionally, while
every effort has been made to assure its accuracy and completeness, errors or
omissions may have inadvertently occurred and the Debtors reserve the right
to amend their MOR as necessary.
1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
- --------------------------------------------------x
:
In re : Chapter 11
:
SOLUTIA INC., ET AL., : Case No. 03-17949 (PCB)
:
Debtors. : (Jointly Administered)
:
- --------------------------------------------------x
MONTHLY OPERATING STATEMENT FOR THE
MONTH OF JANUARY 2005
---------------------
DEBTORS' ADDRESS: 575 Maryville Centre Dr.
St. Louis, MO 63141
DEBTORS' ATTORNEY: KIRKLAND & ELLIS LLP
Richard M. Cieri (RC-6062)
Jonathan S. Henes (JH-1979)
Edward O. Sassower (ES-5823)
Citigroup Center
153 East 53rd Street
New York, New York 10022-4675
CURRENT MONTH NET LOSS ($M): $3
REPORT PREPARER: Timothy J. Spihlman
THIS OPERATING STATEMENT MUST BE SIGNED BY A REPRESENTATIVE OF THE DEBTORS
The undersigned, having reviewed the attached report and being familiar with
the Debtors' financial affairs, verifies under penalty of perjury, that the
information contained herein is complete, accurate and truthful to the best
of my knowledge.
DATE: February 25, 2005 /s/ Timothy J. Spihlman
-----------------------------
Timothy J. Spihlman
Vice President and Controller
Indicate if this is an amended statement by checking here:
--------
2
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
MONTHLY DISBURSEMENTS BY DEBTOR
For the Month of January 2005
- -----------------------------------------------------------------------------
Solutia Inc. $217,148,171.63
- -----------------------------------------------------------------------------
Solutia Business Enterprises Inc. * $--
- -----------------------------------------------------------------------------
Solutia Systems, Inc. * $--
- -----------------------------------------------------------------------------
Solutia Overseas, Inc. * $--
- -----------------------------------------------------------------------------
CPFilms Inc. $9,197,334.83
- -----------------------------------------------------------------------------
Solutia Management Company, Inc. * $--
- -----------------------------------------------------------------------------
Monchem International, Inc. * $--
- -----------------------------------------------------------------------------
Axio Research Corporation $3,521.28
- -----------------------------------------------------------------------------
Solutia Investments, LLC * $--
- -----------------------------------------------------------------------------
Beamer Road Management Company * $--
- -----------------------------------------------------------------------------
Monchem, Inc. * $--
- -----------------------------------------------------------------------------
Solutia Inter-America, Inc. $12,524.09
- -----------------------------------------------------------------------------
Solutia International Holding, LLC * $--
- -----------------------------------------------------------------------------
Solutia Taiwan, Inc. $27,098.30
- -----------------------------------------------------------------------------
Solutia Greater China, Inc. * $--
- -----------------------------------------------------------------------------
<FN>
* The non-operating debtors had no constructive disbursements made on their
behalf.
3
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
STATEMENT ON INSURANCE
For the Month of January 2005
All insurance policy premiums due, including those for workers compensation
and disability insurance, have been paid and all the policies remain in
effect.
4
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA GROUP*
STATEMENT OF CONSOLIDATED OPERATIONS (UNAUDITED)
(DOLLARS IN MILLIONS)
MONTH
ENDED
JANUARY 31,
2005
-----------
TOTAL NET SALES $ 244
TOTAL COST OF GOODS SOLD 205
-----------
GROSS PROFIT 39
TOTAL MAT EXPENSE 22
AMORTIZATION EXPENSE -
-----------
OPERATING INCOME 17
-----------
EQUITY EARNINGS FROM AFFILIATES 3
INTEREST EXPENSE (7)
OTHER INCOME, NET 1
REORGANIZATION ITEMS:
Professional fees (3)
Adjustment to allowed claim amounts (4)
-----------
(7)
INCOME BEFORE TAXES 7
Income tax expense 3
-----------
NET INCOME $ 4
===========
See Accompanying Notes to Consolidated Financial Statements
<FN>
* Includes non-U.S. subsidiaries of the Solutia Inc. corporate organization
that did not commence Chapter 11 cases.
5
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA GROUP*
STATEMENT OF CONSOLIDATED FINANCIAL POSITION (UNAUDITED)
AS OF JANUARY 31, 2005
(Dollars in
ASSETS millions)
------ -----------
Cash $ 103
Trade Receivables, net 300
Inventories 256
Other Current Assets 124
-----------
TOTAL CURRENT ASSETS 783
Property, Plant and Equipment, net 831
Investments in Affiliates 179
Intangible Assets, net 113
Other Assets 151
-----------
TOTAL ASSETS $ 2,057
===========
LIABILITIES AND SHAREHOLDERS' DEFICIT
-------------------------------------
Accounts Payable $ 204
Short Term Debt 305
Other Current Liabilities 268
-----------
TOTAL CURRENT LIABILITIES 777
Long-Term Debt 273
Other Long-Term Liabilities 264
-----------
TOTAL LIABILITIES NOT SUBJECT TO COMPROMISE 1,314
LIABILITIES SUBJECT TO COMPROMISE 2,186
SHAREHOLDERS' DEFICIT (1,443)
-----------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT $ 2,057
===========
See Accompanying Notes to Consolidated Financial Statements
<FN>
* Includes non-U.S. subsidiaries of the Solutia Inc. corporate organization
that did not commence Chapter 11 cases.
6
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA GROUP*
STATEMENT OF CONSOLIDATED CASH FLOWS (UNAUDITED)
(DOLLARS IN MILLIONS)
MONTH
ENDED
JANUARY 31,
2005
-----------
NET CASH USED IN OPERATING ACTIVITIES:
Net income $ 4
Depreciation and amortization 10
Restructuring expenses and other unusual items -
Changes in assets and liabilities:
Trade receivables (14)
Inventories (17)
Accounts payable 6
Other assets and liabilities (11)
-----------
NET CASH USED BEFORE REORGANIZATION ITEMS (22)
OPERATING CASH FLOWS - REORGANIZATION ITEMS:
Professional services fees (3)
-----------
NET CASH USED IN REORGANIZATION ITEMS (3)
-----------
NET CASH USED IN OPERATING ACTIVITIES (25)
===========
NET CASH USED IN INVESTING ACTIVITIES:
Property, plant and equipment purchases (5)
-----------
NET CASH USED IN INVESTING ACTIVITIES (5)
===========
NET CASH PROVIDED BY FINANCING ACTIVITIES:
Net change in short-term debt obligations 5
Net change in cash collateralized letters of credit 13
-----------
NET CASH PROVIDED BY FINANCING ACTIVITIES 18
===========
NET DECREASE IN CASH AND CASH EQUIVALENTS (12)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 115
-----------
CASH AND CASH EQUIVALENTS, END OF PERIOD $103
===========
See Accompanying Notes to Consolidated Financial Statements
<FN>
* Includes non-U.S. subsidiaries of the Solutia Inc. corporate organization
that did not commence Chapter 11 cases.
7
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA CHAPTER 11 DEBTORS
STATEMENT OF CONSOLIDATIONS OPERATIONS (UNAUDITED)
(DOLLARS IN MILLIONS)
MONTH
ENDED
JANUARY 31,
2005
-----------
TOTAL NET SALES $ 197
TOTAL COST OF GOODS SOLD 175
-----------
GROSS PROFIT 22
TOTAL MAT EXPENSE 16
-----------
OPERATING INCOME 6
-----------
EQUITY INCOME FROM AFFILIATES 3
INTEREST EXPENSE, NET (5)
REORGANIZATION ITEMS:
Professional fees (3)
Adjustment to allowed claim amounts (4)
-----------
(7)
LOSS BEFORE TAXES (3)
Income Taxes -
-----------
NET LOSS $ (3)
===========
See Accompanying Notes to Consolidated Financial Statements
8
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA CHAPTER 11 DEBTORS
STATEMENT OF CONSOLIDATED FINANCIAL POSITION (UNAUDITED)
AS OF JANUARY 31, 2005
(Dollars in
ASSETS millions)
------ -----------
Cash $ 42
Trade Receivables, net 154
Account Receivables-Unconsolidated Subsidiaries 53
Inventories 158
Other Current Assets 82
-----------
TOTAL CURRENT ASSETS 489
Property, Plant and Equipment, net 697
Investments in Subsidiaries and Affiliates 502
Intangible Assets, net 101
Other Assets 99
-----------
TOTAL ASSETS $ 1,888
===========
LIABILITIES AND SHAREHOLDERS' DEFICIT
-------------------------------------
Accounts Payable $ 172
Short Term Debt 305
Other Current Liabilities 172
-----------
TOTAL CURRENT LIABILITIES 649
Other Long-Term Liabilities 210
-----------
TOTAL LIABILITIES NOT SUBJECT TO COMPROMISE 859
LIABILITIES SUBJECT TO COMPROMISE 2,298
SHAREHOLDERS' DEFICIT (1,269)
-----------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT $ 1,888
===========
See Accompanying Notes to Consolidated Financial Statements
9
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. NATURE OF OPERATIONS AND BANKRUPTCY PROCEEDINGS
Nature of Operations
Solutia Inc. and its subsidiaries (referred to herein as "Solutia",
the "Solutia Group" or the "Company") make and sell a variety of
high-performance chemical-based materials. Solutia is a world leader in
performance films for laminated safety glass and after-market applications;
process development and scale-up services for pharmaceutical fine chemicals;
specialties such as water treatment chemicals, heat transfer fluids and
aviation hydraulic fluid and an integrated family of nylon products
including high-performance polymers and fibers.
Prior to September 1, 1997, Solutia was a wholly-owned subsidiary
of the former Monsanto Company (now known as Pharmacia Corporation, a
wholly-owned subsidiary of Pfizer, Inc.). On September 1, 1997, Monsanto
distributed all of the outstanding shares of common stock of the Company as
a dividend to Monsanto stockholders (the spin-off). As a result of the
spin-off, on September 1, 1997, Solutia became an independent publicly-held
company listed on the New York Stock Exchange and its operations ceased to
be owned by Monsanto. A net deficiency of assets of $113 million resulted
from the spin-off.
The Company plans to file its 2004 Annual Report on Form 10-K no
later than March 16, 2005.
Proceedings Under Chapter 11 of the Bankruptcy Code
On December 17, 2003, Solutia Inc. and its 14 U.S. subsidiaries
(collectively referred to herein as the "Solutia Chapter 11 Debtors") filed
voluntary petitions for reorganization under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of
New York. The cases were consolidated for the purpose of joint
administration and were assigned case number 03-17949 (PCB). Solutia's
non-U.S. subsidiaries were not included in the Chapter 11 filing.
The filing was made to restructure the Company's balance sheet by
reducing indebtedness to sustainable levels, streamline operations to allow
the Company to emerge from Chapter 11 as a more financially viable going
concern, and to obtain relief from the negative effect on Solutia of legacy
liabilities that Solutia assumed when it was spun off from Pharmacia.
Under Chapter 11, Solutia is operating its businesses as
debtor-in-possession under court protection from creditors and claimants.
Since the filing, all motions necessary to conduct normal business
activities, including the debtor-in-possession (DIP) financing, have been
approved by the bankruptcy court. While Solutia is subject to Chapter 11,
all transactions outside the ordinary course of business will require the
prior approval of the bankruptcy court.
The bankruptcy court set November 30, 2004, as the last date by
which holders of pre-filing date claims against the Company could file such
claims. Any holder of a claim that was required to file such claim by
November 30, 2004, and did not do so may be barred from asserting such claim
against the Company and, accordingly, may not be able to participate in any
distribution on account of such claim. Differences between claim amounts
identified by the Company and claims filed by claimants will be
10
investigated and resolved in connection with Solutia's claims resolution
process. Solutia has not yet completed its analysis of all the proofs of
claim. Since the settlement terms of allowed claims are subject to a
confirmed plan of reorganization, the ultimate distribution with respect to
allowed claims is not presently ascertainable.
Basis of Consolidation
The consolidated financial statements of the Solutia Group include
the accounts of Solutia Inc. and its majority-owned U.S. and non-U.S.
subsidiaries. The non-U.S. subsidiaries did not commence Chapter 11 cases.
The consolidated financial statements of the Solutia Chapter 11 Debtors
include the accounts of Solutia Inc. and its majority-owned U.S.
subsidiaries, with investments in non-U.S. subsidiaries accounted for on the
cost basis. In each case, all significant intercompany transactions and
balances have been eliminated in consolidation. Companies in which Solutia
has a significant interest but not a controlling interest are accounted for
under the equity method of accounting and included in investments in
subsidiaries and affiliates in the statement of consolidated financial
position. Solutia's proportionate share of these companies' net earnings or
losses is reflected in equity earnings (loss) from affiliates in the
consolidated statement of operations. In accordance with Financial
Accounting Standards Board (FASB) Interpretation No. 46, Consolidation of
Variable Interest Entities, variable interest entities in which Solutia is
the primary beneficiary are consolidated within the consolidated financial
statements.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting principles in the United States of America have been condensed or
omitted for purposes of this Operating Report. The consolidated statement of
operations for any interim period is not necessarily indicative of the
results that may be expected for a quarter, full year, or any future interim
period.
Liquidity
At January 31, 2005, total liquidity for the Solutia Group was
approximately $218 million, consisting of $103 million of cash and DIP
facility availability of $115 million. At January 31, 2005, total liquidity
for the Solutia Chapter 11 Debtors was approximately $157 million,
consisting of $42 million of cash and DIP facility availability of $115
million.
2. SIGNIFICANT ACCOUNTING POLICIES
The significant accounting policies are consistent with those
listed in the Company's Annual Report of Form 10-K filed with the Securities
and Exchange Commission on March 15, 2004, and as disclosed in the Monthly
Operating Statement for the period December 17, 2003 to January 31, 2004,
filed on March 1, 2004.
11
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA CHAPTER 11 DEBTORS
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES COLLECTED, WITHHELD OR PAID
MONTH ENDED JANUARY 31, 2005
PRE-PETITION POST-PETITION TOTAL
AMOUNT AMOUNT AMOUNT
------------- ------------- -------------
1. GROSS SALARIES AND WAGES - 28,237,539.83 28,237,539.83
2. PAYROLL TAXES WITHHELD - 5,951,958.89 5,951,958.89
3. EMPLOYER PAYROLL TAX CONTRIBUTED - 2,625,031.59 2,625,031.59
4. GROSS TAXABLE SALES - 841,430.33 841,430.33
5. SALES TAXES COLLECTED / USE TAX PAID - 295,436.97 295,436.97
6. PROPERTY TAXES PAID 1,567,913.96 * 5,356,277.93 6,924,191.89
7. OTHER TAXES PAID - 32,272.96 32,272.96
<FN>
* The pre-petition property taxes were paid to Escambia County, Florida
(Pensacola Plant) per a court approved stipulation between Solutia Inc.
and the County tax collector. We agreed to pay taxes in two equal
installments, plus simple interest at a rate of 6% per year. This was
the second of two installments.
12
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA CHAPTER 11 DEBTORS
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES COLLECTED, WITHHELD OR PAID
MONTH ENDED JANUARY 31, 2005
DATES AND AMOUNTS PAID TO TAXING AGENCIES (ITEMS 2, 3, 5, 6, 7)
PRE-PETITION POST-PETITION TOTAL ITEM
DEBTOR ENTITY DATE AMOUNT AMOUNT AMOUNT TYPE OF TAX NUMBER
- -----------------------------------------------------------------------------------------------------------------------------------
Solutia Inc. 01/03/05 - 26,223.93 26,223.93 Employee Payroll Taxes 2
Solutia Inc. 01/05/05 - 112,662.59 112,662.59 Employee Payroll Taxes 2
Solutia Inc. 01/06/05 - 179,098.41 179,098.41 Employee Payroll Taxes 2
Solutia Inc. 01/07/05 - 422,538.16 422,538.16 Employee Payroll Taxes 2
Solutia Inc. 01/10/05 - 22,526.72 22,526.72 Employee Payroll Taxes 2
Solutia Inc. 01/11/05 - 1,049.68 1,049.68 Employee Payroll Taxes 2
Solutia Inc. 01/12/05 - 97,886.70 97,886.70 Employee Payroll Taxes 2
Solutia Inc. 01/13/05 - 164,748.42 164,748.42 Employee Payroll Taxes 2
Solutia Inc. 01/14/05 - 1,713,620.09 1,713,620.09 Employee Payroll Taxes 2
Solutia Inc. 01/18/05 - 16,687.40 16,687.40 Employee Payroll Taxes 2
Solutia Inc. 01/19/05 - 113,143.13 113,143.13 Employee Payroll Taxes 2
Solutia Inc. 01/20/05 - 223,522.80 223,522.80 Employee Payroll Taxes 2
Solutia Inc. 01/21/05 - 145,293.95 145,293.95 Employee Payroll Taxes 2
Solutia Inc. 01/24/05 - 61,369.77 61,369.77 Employee Payroll Taxes 2
Solutia Inc. 01/25/05 - 34.75 34.75 Employee Payroll Taxes 2
Solutia Inc. 01/26/05 - 40,732.89 40,732.89 Employee Payroll Taxes 2
Solutia Inc. 01/27/05 - 83,411.16 83,411.16 Employee Payroll Taxes 2
Solutia Inc. 01/28/05 - 174,714.80 174,714.80 Employee Payroll Taxes 2
Solutia Inc. 01/31/05 - 1,583,881.86 1,583,881.86 Employee Payroll Taxes 2
Solutia Inc. 01/05/05 - 31,162.50 31,162.50 Employer Payroll Taxes 3
Solutia Inc. 01/06/05 - 58,919.00 58,919.00 Employer Payroll Taxes 3
Solutia Inc. 01/07/05 - 89,924.06 89,924.06 Employer Payroll Taxes 3
Solutia Inc. 01/10/05 - 4,761.47 4,761.47 Employer Payroll Taxes 3
Solutia Inc. 01/11/05 - 402.86 402.86 Employer Payroll Taxes 3
Solutia Inc. 01/12/05 - 29,334.55 29,334.55 Employer Payroll Taxes 3
Solutia Inc. 01/13/05 - 49,946.00 49,946.00 Employer Payroll Taxes 3
Solutia Inc. 01/14/05 - 590,211.40 590,211.40 Employer Payroll Taxes 3
Solutia Inc. 01/18/05 - 3,321.67 3,321.67 Employer Payroll Taxes 3
Solutia Inc. 01/19/05 - 31,168.75 31,168.75 Employer Payroll Taxes 3
Solutia Inc. 01/20/05 - 72,631.84 72,631.84 Employer Payroll Taxes 3
Solutia Inc. 01/21/05 - 34,095.37 34,095.37 Employer Payroll Taxes 3
Solutia Inc. 01/24/05 - 28,827.93 28,827.93 Employer Payroll Taxes 3
Solutia Inc. 01/25/05 - 43.01 43.01 Employer Payroll Taxes 3
Solutia Inc. 01/26/05 - 102,664.81 102,664.81 Employer Payroll Taxes 3
Solutia Inc. 01/27/05 - 25,195.47 25,195.47 Employer Payroll Taxes 3
Solutia Inc. 01/28/05 - 40,319.62 40,319.62 Employer Payroll Taxes 3
Solutia Inc. 01/31/05 - 557,263.06 557,263.06 Employer Payroll Taxes 3
Solutia Inc. 01/14/05 - 10,652.57 10,652.57 Sales/Use Tax 5
Solutia Inc. 01/19/05 - 263,023.49 263,023.49 Sales/Use Tax 5
Solutia Inc. 01/25/05 - 5,940.96 5,940.96 Sales/Use Tax 5
Axio Research, Inc. 01/28/05 - 2,214.65 2,214.65 Seattle B&O Tax 5
CP Films, Inc. 01/31/05 - 12,383.28 12,383.28 Sales 5
CP Films, Inc. 01/31/05 - 1,222.02 1,222.02 Use 5
Solutia Inc. 01/14/05 - 975,655.67 975,655.67 Property Tax 6
Solutia Inc. 01/17/05 - 15,000.00 15,000.00 Property Tax 6
Solutia Inc. 01/19/05 1,567,913.96 - 1,567,913.96 Property Tax 6
Solutia Inc. 01/24/05 - 52,486.45 52,486.45 Property Tax 6
13
SOLUTIA INC., ET. AL.,
Case Nos. 03-17948 (PCB) through 03-17962 (PCB)
(Debtors in Possession)
SOLUTIA CHAPTER 11 DEBTORS
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES COLLECTED, WITHHELD OR PAID
MONTH ENDED JANUARY 31, 2005
DATES AND AMOUNTS PAID TO TAXING AGENCIES (ITEMS 2, 3, 5, 6, 7)
PRE-PETITION POST-PETITION TOTAL ITEM
DEBTOR ENTITY DATE AMOUNT AMOUNT AMOUNT TYPE OF TAX NUMBER
- -----------------------------------------------------------------------------------------------------------------------------------
Solutia Inc. 01/26/05 - 4,161,835.46 4,161,835.46 Property Tax 6
Solutia Inc. 01/28/05 - 150,112.29 150,112.29 Property Tax 6
Solutia Inc. 01/31/05 - 1,188.06 1,188.06 Property Tax 6
Solutia Inc. 01/17/05 - 150.00 150.00 Tax Bond 7
Axio Research, Inc. 01/28/05 - 1,306.63 1,306.63 WA State Labor & Industries 7
CP Films, Inc. 01/28/05 - 29,000.00 29,000.00 Other- Income 7
Solutia Inc. 01/31/05 - 1,270.00 1,270.00 Annual Reports 7
Solutia Inc. 01/31/05 - 505.00 505.00 Business License 7
Solutia Inc. 01/31/05 - 41.33 41.33 Excise Tax 7
14