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For Release: February 11, 2010

Contact: John Scharf 518.233.3893

 

ALBANY, NY — Momentive Performance Materials Inc. announced today that the Rensselaer Technology Park located on Route 4 in North Greenbush, NY has been selected as the site for its state-of-the-art Technology Center and Global Headquarters.

The new facilities will employ 250 people with a total annual payroll of approximately $38 million. The Technology Center will cost approximately $75 million and will employ 130 people. The Company’s global headquarters building will be constructed following completion of the Technology Center at a cost of approximately $16 million. The headquarters will employ 120 people. It is expected that approximately 125 of the jobs will be new to the Capital Region, in addition to 25 positions Momentive has already added to its global headquarters. Momentive relocated its global headquarters from Wilton, CT to the Capital Region on August 1, 2008. The Company’s interim global headquarters is located at 22 Corporate Woods Boulevard in Albany, NY.

“As we continue to recover and rebuild our economy, major investments like this and the jobs this move will create will be crucial to our success,” said New York State Assembly Majority Leader Ron Canestrari. “I welcome the construction of Momentive Performance Material’s

technology facility and global headquarters at the Rensselaer Tech Park and am encouraged by the company’s continued commitment to the Capital Region.” 

 

“RPI and the Rensselaer Technology Park are both extremely valuable assets to the Capital Region and this announcement is great news,” said New York State Senator Roy McDonald. “We need to ensure that people keep the jobs they have so they remain working and we need to continue creating new jobs for people as well. This announcement once again demonstrates that our area is a great place for people to live, work, raise their family and for companies to do business.”

 

“I commend Momentive Performance Materials for continuing to expand their business right here in the Capital Region,” said Rep. Paul Tonko. “In Congress we continue to focus on job creation and rebuilding the economy. I am pleased to partner with Momentive to enhance our local innovation economy which is the foundation for our workforce of the future.”

 

“We are excited to hear about the interest Momentive has in establishing their new technology center in the Tech Park,” said Josephine Ashworth, North Greenbush Town Supervisor. “Our town is seeking quality firms such as this to provide a strong foundation as we pursue sustainable growth for our community.”

 

“The Rensselaer Technology Park is the ideal location for our world-class Technology Center,” said Rich. “Selecting the site is one of several important steps to make this project a reality. We are looking forward to strengthening our relationship with Rensselaer and calling the Tech Park home.”

 

Momentive is a global leader in silicones and advanced materials, with a 70-year heritage of being first to market with performance applications for major industries that support and improve everyday life. The company delivers the science behind the solutions, by linking custom technology platforms to opportunities for customers. Momentive Performance Materials Inc. is controlled by an affiliate of Apollo Management, L.P. Additional information is available at www.momentive.com.

Certain statements, including, without limitation, statements related to the construction of new facilities, the relocation and hiring of employees and planned expenditures on capital projects, in this press release may constitute forward-looking statements within the meaning of and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are statements that could be forward-looking statements. In addition, our management may from time to time make oral forwardlooking statements. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” and similar words or expressions. These forward-looking statements reflect our current views with respect to future events and are based on currently available financial, economic and competitive data and our current business plans. Actual results could vary materially depending on risks and uncertainties that may affect our operations, markets, services, prices and other factors. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: our developer’s ability to secure project financing on commercially acceptable terms; our financial performance; the implementation and results of our ongoing strategic initiatives; the status of our Waterford, NY site as an Empire Zone; our substantial leverage; limitations on flexibility in operating our business contained in the documents governing our indebtedness; changes in prices and availability of raw materials and key intermediates; and rising energy costs. For a more detailed discussion of these and other risk factors, see our Form 10-Q for the quarters ended March 29, 2009, June 28, 2009 and September 27, 2009 filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

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