Sipex Announces Three Additions to Board of Directors

Sipex Announces Three Additions to Board of Directors

September 11, 2006

Pierre Guilbault, Dan Casey and Alan Krock Bring Industry Expertise to Board

    MILPITAS, Calif., Sept. 11 /Xinhua-PRNewswire/ -- Sipex
Corporation (OTC Bulletin Board: SIPX.PK) today announced
the appointment Pierre Guilbault, Dan Casey and Alan Krock
to its Board of Directors. In order to accommodate the
appointment of the three new directors, the Board has
approved an increase in the number of authorized directors
from eight to ten. The expansion of Sipex's Board of
Directors ensures the Company will continue to benefit from
a diversity of experience and opinions. "We believe
that Pierre, Dan and Alan are excellent candidates because
of their broad management experience in established
companies, proven leadership skills and their reputation as
independent and creative thinkers," said Ralph Schmitt,
Chief Executive Officer of Sipex. "As part of the
transformation of the Company, Sipex has developed a new
operational plan and announced the completion of restating
its financial statements. In addition, we have settled both
the class action and derivative lawsuits, and with the
addition of these three new directors, we have achieved
another milestone. Sipex wanted to add appropriate
representation from our largest shareholder, Future
Electronics, and bring the expertise of an experienced CFO
to the Board."

    In addition to Messrs. Guilbault, Casey and Krock, the
members of Sipex's Board are Brian Hilton, Chairman of the
Board; Ralph Schmitt, Chief Executive Officer; Joseph
Consoli, John Arnold, Doug McBurnie, Lionel Olmer and
Thomas Redfern.

    Pierre Guilbault has been with Future Electronics since
2002 as Executive Vice President and CFO. Prior to joining
Future, he was Executive Vice President and CFO of
Steinberg, Inc., Executive Vice President and CFO of My
Virtual Model, Inc. and Executive Vice President and CFO of
Motion International, Inc.  Mr. Guilbault brings significant
international financial experience to the Board.

    Dan Casey is currently an Executive Vice President with
Future Electronics. He has been with Future for 14 years and
during that time has been posted in London, where he managed
Future's European operations and in Singapore, where he
managed Future's Asian operations. He is currently
responsible for International Operations and is based out
of Future's head office in Montreal, Canada. Prior to
Future Electronics, he was President of a division of ABB,
Canada. He was employed at ABB for over 13 years. Mr. Casey
brings a diverse background of international operations,
sales and marketing to the Board.

    Alan Krock is a Vice President and CFO of PMC-Sierra,
Inc. Prior to PMC-Sierra, Mr. Krock was the Vice President
and CFO at Integrated Device Technology, Inc., where he
managed all aspects of the company's financial and
administrative functions. He also served as IDT's Vice
President and Corporate Controller and oversaw domestic and
worldwide financial reporting and systems. Prior to joining
IDT, Mr. Krock was Corporate Controller for Rohm USA and a
senior manager at Price Waterhouse, now Price Waterhouse
Coopers, in the United States and Australia. Mr. Krock
brings a wealth of experience to the Board in the areas of
current public financial requirements, mergers and
acquisitions. 

    About Sipex Corporation

    Sipex Corporation is an analog semiconductor company
that addresses standard linear and application specific
standard products (ASSP) for customer systems that are
primarily targeted at the consumer, networking and
industrial markets. The products are categorized into three
synergistic areas of power management, interface and optical
storage. Sipex is a global company with operations in Asia,
Europe and North America. It is the mission of the Company
to create innovative analog products that enable customers
to produce differentiated products. For more information
about Sipex, visit http://www.sipex.com .

    Safe Harbor

    This press release contains forward-looking statements.
Statements regarding Sipex's beliefs, plans, expectations or
intentions regarding the future are forward-looking
statements, within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Exchange Act, as amended. All such forward looking
statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. In
particular, the forward-looking statements include the
statements regarding that Sipex will benefit from the
service of its new directors. These statements are
predictions and involve risks and uncertainties, such that
actual results may differ significantly. Additional risks
and other important factors are detailed in various
Securities and Exchange Commission filings made
periodically by Sipex, particularly in its latest Annual
Report on Form 10-K. The Company disclaims any intention or
obligation to publicly update or revise any forward-looking
statements, whether as a result of events or circumstances
after the date hereof or to reflect the occurrence of
unanticipated events.

    For more information, please contact:

     Ralph Schmitt 
     Tel:   [phone]
     Fax:   [phone]
     Email: [e-mail]

SOURCE  Sipex Corporation