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Scott + Scott, LLC Files Initial Complaint after a Year-Long Investigation The Successor-in-Interest to Rhodia is Rhone-Polenc COLCHESTER, Conn., April 11 /PRNewswire/ -- Scott + Scott, LLC, announces that it filed on behalf of client shareholders a securities class action against Rhodia S. A. (NYSE:RHA). It was filed last week. Scott + Scott filed an opening complaint with another law firm. The firm is investigating further into this case and will provide additional information in the future. The complaint charges Rhodia and certain of its officers and directors with violations of the federal securities laws (Securities Exchange Act of 1934). Rhodia develops, manufactures and markets chemical products. It is the successor-in-interest to Rhone-Poulenc. You can reach attorney Neil Rothstein at at 800/332-2259 or 619/251-0887. Scott + Scott has offices in Connecticut, Ohio and California. The firm (http://www.scott-scott.com/) specializes in complex litigation including securities fraud and represents foundations, individuals, corporations and pension funds worldwide. Rhodia was filed by Scott + Scott, LLC last week in federal court in the District of New Jersey. The complaint alleges that during the Class Period, defendants overstated Rhodia's reported financial results by failing to record impairment on a timely basis; this was allegedly done by individual defendants in order to protect and enhance their executive positions and substantial compensation. It is alleged that this scheme was further carried out to raise EUR 1 billion in Notes in a private placement on May 28, 2003, as well as EUR 290 million in a private placement of Notes with American investors in 2001 and to enhance the value of their personal Rhodia securities holdings and options. True facts concealed from shareholders during the Class Period included that Rhodia was carrying an overvalued asset on its books in the form of its ChiRex unit which was impaired and should have been written down in a timely fashion but was not. Further, Rhodia failed to write down its deferred tax assets to recoverable values in 2002 and failed to do so in 2003 until the end of the year. Additionally, the Company failed to properly report its outstanding debt; and it failed to make disclosures in a manner in order to make it possible for investors to understand the trends in its business. As a result of Rhodia's false statements, its securities traded at artificially inflated levels during the Class Period. On March 23, 2004, it was revealed that French securities regulators were conducting an inquiry into the Company's financial reporting. Following this news, Rhodia's stock collapsed to below $1.50 per share. Subsequently, in March 2005, it was reported that France's stock market regulator had found that the Company had failed to disclose important information in a timely fashion beginning in 2001. Scott + Scott, LLC represents those who purchased securities in Rhodia from April 26, 2001 to March 23, 2004. If you purchased securities in Rhodia during this period and desire to be a client shareholder, please send your forms in soon as possible. If you were to be considered to be put forth as a lead plaintiff, you would be notified and permitted to make any such decision. Scott + Scott, a Connecticut-based law firm with offices in Chagrin Falls, Ohio and San Diego, California, is a law firm with a national practice and reputation. The firm is currently litigating major securities, antitrust and employee retirement plan cases throughout the United States and represents pension funds, charities, foundations, individuals and other entities worldwide -- in both class and non-class cases. Scott + Scott dedicates itself to client communication and satisfaction. Please visit our website at http://www.scott-scott.com/ to learn more about the firm, its practice and other cases. If you wish to discuss this action with an attorney or have any questions concerning this notice, your rights or any matter within our expertise, please contact attorney Neil Rothstein at nrothstein@scott- scott.com or by calling 800/404-7770 (EST) or 800-332-2259 (PST). You can dial direct in California at 619-233-4565. Scott + Scott, LLC is based at 108 Norwich Avenue, Colchester, CT 06415; phone: 860/537-3818; fax: 860/537-4432. This release is issued in accordance with the applicable U.S. federal law. Scott + Scott is investigating, litigating or has filed a lawsuit on behalf of clients against the following companies: Sina Corporation MBIA INC. Forest Laboratories General Motors Delphi Cell Therapeutics Bradley Pharmaceuticals Audible Inc. Orange 21, Inc. DATASOURCE: Scott + Scott, LLC CONTACT: Neil Rothstein of Scott + Scott, +1-800-404-7770, Web site: http://www.scott-scott.com/

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