YES

(VAR x0 x1 x y z)
(RULES
  *(x0,*(1(),x1)) -> *(x0,x1)
  +(x0,+(0(),x1)) -> +(x0,x1)
  exp(+(x,y)) -> *(exp(x),exp(y))
  exp(0()) -> 1()
  *(x,1()) -> x
  *(*(x,y),z) -> *(x,*(y,z))
  +(x,0()) -> x
  +(+(x,y),z) -> +(x,+(y,z))
)

(COMMENT
Termination is shown by LPO with precedence:

  exp > 1 > * > + > 0
)