HOUSTON, Aug. 13 /PRNewswire-FirstCall/ -- Lyondell Chemical Company (NYSE: LYO) today announced that it has submitted its certifications to the U.S. Securities and Exchange Commission (SEC) as required by SEC order and by the Sarbanes-Oxley Act of 2002. Dan F. Smith, Lyondell President and Chief Executive Officer, and T. Kevin DeNicola, Senior Vice President and Chief Financial Officer, executed the certifications.

These actions are in response to a June 27, 2002 order by the SEC requiring sworn statements from large publicly-traded companies by Aug. 14 and in response to the requirements of the Sarbanes-Oxley Act of 2002. The certifications are available on Lyondell's website and may be accessed at www.lyondell.com .

Lyondell also announced today that beginning Jan. 1, 2003, the company will expense the fair value of employee stock options, under the method defined in the Financial Accounting Standards Board's Statement of Financial Accounting Standards No. 123, "Accounting for Stock-Based Compensation".

Lyondell Chemical Company, (www.lyondell.com ), headquartered in Houston, Texas, is the world's largest producer of propylene oxide (PO); the world's number three supplier of TDI (toluene diisocyanate); a leading producer of propylene glycol; a leading producer of other PO derivatives such as BDO (butanediol) and PGE (propylene glycol ether); and a producer of styrene monomer and MTBE as co-products of PO production. Through its 41% interest in Equistar Chemicals, LP, Lyondell also is one of the largest producers of ethylene, propylene and polyethylene in North America and a leading producer of polypropylene, ethylene oxide, ethylene glycol, high value-added specialty polymers and polymeric powder. Through its 58.75% interest in LYONDELL-CITGO Refining LP, Lyondell operates one of the largest refineries in the United States, processing extra heavy Venezuelan crude oil to produce gasoline, low sulfur diesel and jet fuel.

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SOURCE Lyondell Chemical Company
Web site: http: //www.lyondell.com
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CONTACT: media, David Harpole, +1-713-652-4125, or investors, Douglas Pike, +1-713-309-4590, both of Lyondell Chemical Company
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