Pursue. Premier. Two simple words that independently and collectively define Celanese’s journey for the past eight years. With this mindset, we have improved the long-term stability and strength of our company. As a leading global integrated producer of chemicals and advanced materials, Celanese has distinguished itself with a focused growth strategy, a performance-driven culture and a demonstrated track record of execution. These elements have enabled us to yield strong cash generation, attain industry leadership positions in our diverse portfolio of specialty businesses, and identify even more opportunities for continued growth and superior value creation.

For the past several years, Celanese has consistently executed against a simple, strategic foundation supported by four strategic pillars:

• Participate in businesses where we have a sustainable competitive advantage.
• Leverage and build on advantaged positions that optimize our portfolio.
• Aggressively align with our customers and their markets to capture growth.
• Divest non-core assets and revitalize underperforming businesses.

In late 2006, we outlined 2010 growth objectives that are aligned with our strategic pillars. In 2007, we made tremendous progress. We accelerated our growth in Asia by investing in our fully integrated chemical complex in Nanjing, China, and successfully commenced operations of its acetic acid and emulsions units. We completed the integration of our Acetate Products Limited asset acquisition and began capturing synergies. We divested our noncore oxo products and derivatives businesses and completed the revitalization of our Acetate Products business. We continued to pursue operational excellence opportunities to more than offset inflation and improve our overall cost position. We restructured our balance sheet to provide a more flexible, lower cost capital structure. These results were supported by the realignment of our businesses to drive strategic growth and provide more transparency.

Celanese is clearly a company that executes. While we are pleased with what we’ve been able to accomplish, we are not satisfied. Through our relentless execution, we exceeded our initial expectations and are now on track to expand the earnings power of our portfolio beyond our original plans. Our Advanced Engineered Materials business is expected to deliver volume growth greater than two times GDP through continued innovation. Our Consumer and Industrial Specialties businesses will continue to reap the benefits of the Acetate Products revitalization strategy and leverage this success with revitalization efforts in the emulsions and polyvinyl alcohol businesses. Acetyl Intermediates’ successful startup of its acetic acid unit at our Nanjing integrated complex will lead the way for additional units planned for startup during 2008 and early 2009.

Since 2000, we have transformed Celanese into a collection of businesses that is stronger and more resilient than ever. With an attractive portfolio of specialty businesses, a more geographically balanced global presence and diversified end-market exposure, we expect to deliver more stable earnings growth, regardless of economic conditions. Celanese’s core values are a key enabler in our ability to execute our growth strategy and deliver increased value for our shareholders. Safety, integrity and responsibility; employee opportunity and development; customer-focused growth and innovation; and productivity, performance and results are the core values that guide Celanese employees around the world.

Celanese is on the pathway to becoming a premier chemical company. We’ve come a long way, but we’re not there yet. As we continue on our journey, we’ll seize opportunities, transform our portfolio, drive growth and productivity, and expand to support our customers in developing regions. Although our journey ahead will undoubtedly be challenging, we have a clear path forward and a sound strategy in place to accelerate our growth plans and increase the value of Celanese for all of our stakeholders, including our customers, shareholders and employees.

David N. Weidman
Chairman and Chief Executive Officer