UPDATE: Westlake Chemical Increases Offer for Georgia Gulf to $35.00 Per Share

Westlake Chemical Corporation

announced today that it has submitted a revised proposal to the board of Georgia Gulf Corporation

to acquire all the outstanding shares of Georgia Gulf for $35.00 per share in cash. The Company also announced that Georgia Gulf has rejected this increased offer. The revised proposal represents a 17% increase to Westlake's previous offer of $30.00 per share, a 77% premium to Georgia Gulf's unaffected 30-day volume weighted average share price of $19.82 prior to our original public offer and a substantial premium over the volume weighted average share price since the initial offer.