HOUSTON, Dec. 16 /PRNewswire-FirstCall/ -- Lyondell Chemical Company (NYSE: LYO) today announced that it has extended and increased its existing credit facility ("revolver") that was scheduled to mature in June 2005. The term has been extended to December 2009, and the facility has been increased by $125 million to $475 million. Fees and interest rates on the revolver have been reduced by 50 basis points.

There is no change in credit facilities at the other Lyondell companies: Millennium Chemicals, Equistar Chemicals and LYONDELL-CITGO Refining.

Lyondell Chemical Company, headquartered in Houston, Texas, is North America's third-largest independent, publicly traded chemical company. Lyondell is a major global manufacturer of basic chemicals and derivatives including ethylene, propylene, titanium dioxide, styrene, polyethylene, propylene oxide and acetyls. It also is a significant producer of gasoline blending components. The company has a 58.75 percent interest in LYONDELL- CITGO Refining LP, a refiner of heavy, high-sulfur crude oil. Lyondell is a global company operating on five continents and employs approximately 10,000 people worldwide.

SOURCE: Lyondell Chemical Company

CONTACT: investors, Doug Pike, +1-713-309-4590, or media, Susan Moore, +1-713-652-4645, both of Lyondell Chemical Company

Web site: http://www.lyondell.com