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LONDON, August 19, 2008 — International Specialty Products, Inc. (ISP) has completed its previously announced sale of its hydrocolloids ingredients business to FMC Corporation. The London office of Covington & Burling LLP advised ISP on the transaction. ISP is a leading global supplier of specialty chemicals and performance-enhancing products for a wide variety of personal care, pharmaceutical, food, beverage, and industrial applications. Hydrocolloid ingredients are commonly used as gelling agents, emulsifiers and stabilizers, and include alginates, which are extracted from seaweed and are one of the most versatile biopolymers used in a wide range of food, pharmaceutical and specialty applications. The Covington team was led by corporate partners Louise Nash and Peter Laveran and corporate associate Richard Holden. The team also included of counsel Guy Dingley (Tax) and associates Philip Davies (Employment), Alexander Clarke (Corporate), Julie Pender (IP) and Edward Dearing (Tax).