ANNOUNCEMENT, [Posted 12/04/2006 12:00:00 PM EST]

Momentive Performance Materials Inc. - Heralded Industry Leaders Become Global Specialty Materials Company

New company created by joining units from GE, Toshiba, and Bayer

WILTON, Conn., December 4, 2006 — Momentive Performance Materials Inc., the new company
created by the sale of GE’s Advanced Materials business to Apollo Management, L.P., will operate as
one global entity focused on technology and service excellence in the silicones, quartz and ceramics
industries. The acquisition, which was completed yesterday for $3.8 billion, represents another
stellar brand added to Apollo’s strong portfolio of chemical businesses.

The former GE Advanced Materials management team, led by president and CEO Wayne Hewett, will
continue in their roles in the new business. In addition, the former joint ventures GE Bayer Silicones
and GE Toshiba Silicones, their employees and their management team are now part of Momentive
Performance Materials.

“We see this as a unique opportunity to build a new and exciting organization created from three
global industry leaders,” Hewett said. “Our current and future customers will benefit from the best
practices that have made GE an admired company, and from the deep industry expertise and
financial resources that Apollo has to offer. Momentive is now a stand-alone company, and we have
the added flexibility and increased focus to operate more nimbly in the marketplace, helping our
customers achieve their strategic, product design and business objectives.”

A leader in private equity, debt and capital market investments, Apollo has significant expertise and
experience in the chemical industry. “Momentive Performance Materials is a premier specialty
materials company with a proud history and promising future,” Joshua Harris, a founding partner of
Apollo, said. “We look forward to supporting the management team as they take the company to a
new level, investing in new high-impact products, developing new market segments and
applications, finding new customers, and focusing on emerging growth markets.”

About Momentive Performance Materials
Momentive Performance Materials is a premier specialty materials company, providing hightechnology
materials solutions to the silicones, quartz and ceramics markets. The company is a
global leader with worldwide operations, a robust product portfolio, industry-leading research and
development capabilities, and a long tradition of service excellence.

About Apollo Management
Apollo Management, founded in 1990, is a recognized leader in private equity, debt and capital
markets investing. Since its inception, Apollo has successfully invested over $16 billion in companies
representing a wide variety of industries, both in the US and internationally. Apollo is currently
investing its sixth private equity fund, Apollo Investment Fund VI, L.P., which along with related
coinvestment entities represents approximately $12 billion of new capital.

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Media Contact
Diana Sousa
(w) 203-761-1994
(m) 860-808-8520
E-Mail: diana.sousa@momentive.com