Exhibit 99.3

                        SUMMARY UPDATE OF SALE PROCESS
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         At a hearing conducted on November 16, 2006, Solutia Inc. ("Solutia")
informed the Bankruptcy Court that it was undertaking an exploratory sale
process (a "Sale"), which could involve the sale of the equity of reorganized
Solutia, through Solutia's plan of reorganization, to a third party purchaser.
If a Sale is consummated, Solutia contemplates that the proceeds from the Sale
will be used to fund the settlement with Solutia's retirees, certain ongoing
legacy liabilities, and cash distributions to Solutia's creditors.

         In connection with the Sale process, Solutia and/or its advisors
contacted 18 potential strategic and financial purchasers. Solutia's
management team made business and financial presentations to these potential
purchasers. Indications of interest were due on December 19, 2006. The Company
is currently evaluating the indications of interest in consultation with its
legal and financial advisors.

CAUTIONARY AND FORWARD LOOKING STATEMENTS.

         This Summary Update of Sale Process may contain forward-looking
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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 can be
accessed through the "Investors" section of Solutia's website at
www.solutia.com. The bankruptcy court filings can be accessed by visiting
www.trumbullgroup.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.