Exhibit 10.1

[SOLUTIA logo]
                                   News

                                               SOLUTIA INC.
                                               575 Maryville Centre Drive
                                               St. Louis, Missouri 63141

                                               P.O. Box 66760
                                               St. Louis, Missouri 63166-6760

FOR IMMEDIATE RELEASE
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                                       MEDIA: Dan Jenkins (314) 674-8552
                                       INVESTORS: Tim Spihlman (314) 674-5206



               SOLUTIA AGREES TO SALE OF ASTARIS JOINT VENTURE


             TRANSACTION CONSISTENT WITH REORGANIZATION STRATEGY



ST. LOUIS - SEPTEMBER 1, 2005 - Solutia Inc. (OTCBB: SOLUQ), today announced
it and FMC Corporation have reached a definitive agreement to sell Astaris,
their 50/50 specialty phosphates joint venture. Under the terms of the
agreement, Israel Chemicals Limited (ICL) will purchase substantially all of
the assets of Astaris for $255 million. This transaction is subject to
bankruptcy court approval, regulatory clearance and various other conditions
and contingencies.

         "The Astaris divestiture is the latest step forward in a key
component of our reorganization strategy: building a portfolio of
high-potential businesses to form the core of reorganized Solutia," said Jim
Sullivan, senior vice president and chief financial officer, Solutia Inc.
"While Astaris has benefited greatly from restructuring actions taken during
2004, it is a non-core asset to Solutia that is a better strategic fit for a
company such as ICL."

         Solutia will use the proceeds of the Astaris sale to partially pay
down the term loan portion of its debtor-in-possession (DIP) financing. The
sale will be liquidity neutral for Solutia; however, it will save the
company interest costs associated with its DIP term loan.


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FORWARD LOOKING STATEMENTS

         This press release may contain forward-looking statements, which
can be identified by the use of words such as "believes," "expects," "may,"
"will," "intends," "plans," "estimates" or "anticipates," or other
comparable terminology, or by discussions of strategy, plans or intentions.
These statements are based on management's current expectations and
assumptions about the industries in which Solutia operates. Forward-looking
statements are not guarantees of future performance and are subject to
significant risks and uncertainties that may cause actual results or
achievements to be materially different from the future results or
achievements expressed or implied by the forward-looking statements. These
risks and uncertainties include, but are not limited to, those described in
Solutia's most recent Annual Report on Form 10-K, under "Cautionary
Statement About Forward-Looking Statements," Solutia's quarterly reports on
Form 10-Q, and in filings with the U.S. Bankruptcy Court in connection with
the Chapter 11 case of Solutia Inc. and 14 of its U.S. subsidiaries. These
reports and filings can be accessed through the "Reorganization" and
"Investors" sections of Solutia's website at www.solutia.com. Solutia
disclaims any intent or obligation to update or revise any forward-looking
statements in response to new information, unforeseen events, changed
circumstances or any other occurrence.


CORPORATE PROFILE

         Solutia (http://www.Solutia.com) uses world-class skills in applied
chemistry to create value-added solutions for customers, whose products
improve the lives of consumers every day. 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.
Solutia ... Solutions for a Better Life.


SOURCE: SOLUTIA INC.

ST. LOUIS

9/1/05