"

Huntsman is a global manufacturer and marketer of differentiated and
commodity chemicals.

Statements in this release that are not historical are forward-looking
statements.
Kuran's project will advance ongoing research on the role of Islam, and
especially Islamic law, in the economic performance of the Middle East from
its rise in the 7th century to the present.

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Originally known for pioneering innovations in
packaging, and later, rapid and integrated growth in petrochemicals, Huntsman
today has 11,300 employees, 57 operations in 22 countries, and had 2004
revenues of $11.5
million in research funds.metanexus.

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dollar equivalents under its senior secured term loan
facility, utilizing proceeds from the Company's recently expanded accounts
receivable securitization program., Director for Research and Programs in the Human Sciences at Metanexus.
Since then, social scientists have vigorously debated the concept of
social capital, but spiritual capital - a sub-set of the field - remains
relatively understudied.

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Robert Woodberry, Assistant Professor of Sociology at the University of
Texas at Austin: Project on Religion and Economic Change. Since its recent disclosure of the Halvorsen well production
rates, which management views as positive, the Company has issued no further
news.

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Winners of the invitation-only competition for the three founding grants
in the Spiritual Capital Research Program were announced by Kimon H. A membership
organization , Metanexus hosts an online magazine and discussion forum with
over 140,000 monthly page views and 7000 regular subscribers in 57 different
countries.net

The mission of the John Templeton Foundation is to pursue new insights at
the boundary between theology and science through a rigorous , open-minded and
empirically focused methodology, drawing together talented representatives
from a wide spectrum of fields of expertise.

Information herein contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, which can be
identified by words such as "if," "potential," "possible," "should," "would,"
"may," "will," "anticipate," "estimate," "expect," "intend" or "continue," or
comparable words.

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In addition, Huntsman International LLC has voluntarily prepaid
$50 million in U. Sargeant,
Ph.

Timur Kuran, Professor of Economics and Law and King Faisel Professor of
Islamic Thought and Culture at the University of Southern California: The Role
of Religion in the Economic Performance of Civilizations. It will also facilitate a broader
range of study by bringing together a network of scholars, to be
known as the Institute for Economic Research on Civilizations (IERC), to
promote comparative research and raise the level of discourse on the role of
various religions and forms of spiritual capital in the economic performance
of civilizations.

Each project is 30 months in duration, beginning March 2005. "However, we remain
optimistic that recent ventures and future opportunities will have positive
results."
Basic is an oil and gas exploration and production company with primary
operations in south Texas and in the Williston basin.

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This project seeks to evaluate the influence of various religions on
health, education and the economy by measuring religious distinctions and the
resulting impact on national, community and individual levels in societies
around the world .
In addition to the three funded projects that are just beginning, the
Metanexus Institute has issued a new call for proposals for $150,000 research
grants for interdisciplinary studies on the economic and social consequences
of religion and spirituality.
For further information on the Spiritual Capital Research Program,
including submission guidelines for the new granting opportunities , or to
request a program brochure, visit http://www. Overall, other
than market forces (i.e.

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5 billion. These statements are based on management's current beliefs and
expectations.

newscom. Metanexus sponsors dialogue groups, lectures,
workshops, research, courses, grants, and publications. speculation and profit-taking) the Company has no
information that would explain these events.

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S. Significant risks and uncertainties may
relate to, but are not limited to, financial, economic , competitive,
environmental, political, legal, regulatory and technological factors.
Readers are encouraged to read the SEC reports of Basic, particularly the
Company's Quarterly Reports on Form 10-QSB for the quarters ended June 30,
September 30 and December 31, 2004, in addition to the Company 's Annual Report
on Form 10-KSB for the fiscal year ended March 31, 2004, for meaningful
cautionary language disclosing why actual results may vary materially from
those anticipated by management.

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The
grants are awarded through a program of the Metanexus Institute on Religion
and Science, supported by generous funding from the John Templeton Foundation.com/cgi-bin/prnh/20050324/PHTH031LOGO )
The term "spiritual capital" refers to the economic and social
consequences of religion and spirituality.net/spiritual_capital
or contact project manager Christopher Stawski at
SpiritualCapital@metanexus . Metanexus is
a leader in a growing network of individuals and groups exploring the dynamic
interface between cosmos, nature, and culture in communities and on campuses
throughout the world. (Basic or the Company) (OTC Bulletin Board: BSIC), noting the recent
volatility in its stock, commented today that it has no explanation for these
recent events.

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D."
Principal investigators heading the award-winning teams and their projects
are:

Laurence Iannaccone, Koch Professor of Economics at George Mason
University: Creating an "Ecology" for the Study of Religion, Economics, and
Spiritual Capital.

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The Metanexus Institute is interested in supporting high-level, impartial
scholarship on the contribution of religion - both for good and for ill - to
economic and social developments . Full grant applications will then be invited for a total of $1. Projects include the Local
Societies Initiative, the Templeton Research Lectures, and topical
interdisciplinary research projects such as the Spiritual Transformation
Scientific Research Program, Spiritual Capital Research Program, Foundational
Questions in Physics and Cosmology, as well as studies of religion and health,
religion and human flourishing, and other endeavors.templeton.org

hospitalized kimbrough

Huntsman Prepays $75 Million in Bank and Bond Debt

The partial redemption was made at a price of 105% of the
principal amount plus accrued interest. Its operating companies manufacture basic products for a
variety of global industries including chemicals, plastics, automotive,
aviation, footwear, paints and coatings, construction , technology,
agriculture, health care, textiles, detergent, personal care, furniture,
appliances and packaging. DENVER, Basic Earth Science Systems,
Inc.

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http://www.
"Today's events were certainly painful for our shareholders; myself
included," commented Ray Singleton, president of Basic .

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The forward-looking statements in this release are subject to
uncertainty and changes in circumstances and involve risks and uncertainties
that may affect the company's operations, markets, products, services, prices
and other factors as discussed in the Huntsman companies' filings with the
Securities and Exchange Commission. The Spiritual Capital Research Program will fund high-
level research that could lead to new understandings of religion's role in
economic, social and political life.

Basic Earth Comments on Recent Market Activity

Basic is traded on the
"over-the-counter - bulletin board" under the symbol BSIC. In addition, all statements other than statements of
historical facts that address activities that Basic intends, expects or
anticipates will or may occur in the future are forward-looking statements.

redemption kimbrough

According to Kimo Esplin, Executive Vice President and Chief Financial
Officer, "We continue to use available cash flow to reduce our indebtedness
and to take steps to further reduce the interest cost of our outstanding debt.

Three Grants of $500 000 Each Awarded for Research on 'Spiritual Capital' by Metanexus Institute

jurisdictions precedent

THE WOODLANDS, Texas, Huntsman
Corporation (NYSE: HUN) ("Huntsman") today announced that its Huntsman
Advanced Materials LLC subsidiary has completed the partial redemption of
$25 million in aggregate principal amount of Senior Secured Floating Rate
Notes due 2008. The company assumes no obligation to provide revisions to any
forward-looking statements should circumstances change, except as otherwise
required by securities and other applicable laws. PHILADELPHIA, Three distinguished scholars have
each received grants of $500,000 to lead teams of researchers in order to
create a new interdisciplinary field of "Spiritual Capital" research . While religion and spirituality
are rich with various sources of personal meaning, they also have profound
public significance. Results will
be disseminated through scholarly and lay publications , conferences, speaking
engagements and websites. Letters of intent are due no later than April
15 , 2005.

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Since December of 2004, we have reduced our debt by approximately
$450 million. Just 100 years ago Max Weber
published his provocative work The Protestant Ethic and the Spirit of
Capitalism .metanexus.

hospitalized salvation

"It is no
longer unusual to consider that trust, behavioral norms and religion can
profoundly shape economic, political and social developments. Only in recent years have leading scholars,
including Nobel laureate economists Gary Becker and Robert Fogel and political
scientists John DiIulio and Robert Putnam, called renewed attention to the
effects of spiritual and religious practices, beliefs and institutions on
economics, politics and societies.

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Metanexus leads and
facilitates over 300 projects in 36 countries.

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Accordingly, there can be no assurance that the company's expectations will be
realized.
In The Wealth of Nations, Adam Smith raised key questions for the economic
analysis of religion and looked at the effects of competition among religions
and the dangers of government of religion.

serpents scriptural

This is in addition to the amounts we repaid with the proceeds
from our IPO and represents significant progress towards our $2 billion debt
reduction goal.
(Logo: http://www.
This project includes the development of an international Consortium for
the Economic Study of Religion (CESR), bringing visiting scholars together at
George Mason University for interdisciplinary and collaborative workshops,
classes, research projects and conferences, instituting an economics-as-
religion concentration for doctoral students, and creating a global network of
scholars and institutes. One section will analyze the impact of 150 years of
missionary activity; a second section will analyze the economic consequences
of Pentecostal conversions in Brazil; a third section will focus on the
influence of revivalist Islam and Christianity in rural Malawi.

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net or 215-789-2200 .

The Metanexus Institute advances scientific research, education and
outreach on the constructive engagement of science and religion.

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"Now seems an ideal time to understand and assess the public effects of
spiritual and religious action because there seems to be a growing openness in
the social sciences towards non-material factors," says Sargeant. The aim of the Spiritual Capital Research
Program is to catalyze the development of this interdisciplinary research
field, which may become a vital new field in the social sciences. http://www. Furthermore, the Company has not experienced any negative activity that
would change or materially impact the business of the Company.