HOUSTON, May 30 /PRNewswire/ -- Lyondell Chemical Company (NYSE: LYO) and Equistar Chemicals, LP (a joint venture of which Lyondell owns 41 percent) announced today that they are becoming equity partners of Envera and will utilize the Envera network as a primary clearinghouse for order fulfillment processes. As a result of Lyondell's and Equistar's joint equity investment, a representative of the enterprise will be joining the Envera Board of Directors.

Envera, a global, electronic marketplace for business-to-business transactions and services, provides trading member links for more than 80 partner companies in the chemical and petroleum industries. Other major chemical company members include Eastman Chemical, Millennium Chemicals, Occidental Chemical and Solutia.

An Internet-based system, Envera will serve as a transparent, efficient link to Lyondell's and Equistar's trading partners, including customers and suppliers, and will complement existing relationships with those partners. Sponsorship by a consortium of international companies, rather than by a single industry entity, is a key component of Envera's structure. Envera has been designed as a customer-focused site where all industry participants can transact business with assurance of the network's neutrality, security and confidentiality.

Lyondell and Equistar are advancing their e-business strategies on several fronts with a plan designed to accomplish the following:

    -- Identify and capture numerous improvements in planning and managing the
       sales, supply chain and procurement functions,
    -- Define the system infrastructure requirements necessary to sustain
       current and future e-business efforts,
    -- Identify and capitalize on e-business opportunities that require
       adoption of new business models, and
    -- Utilize e-business to strengthen and broaden strategic relationships.

"The greatest potential contributions of e-business for Lyondell and Equistar are the addition of value for our customers and suppliers, as well as enhanced efficiency and cost-effectiveness of our business processes," said Dan F. Smith, President and Chief Executive Officer of Lyondell and Chief Executive Officer of Equistar. "Becoming an equity participant in Envera will assist us in realizing this potential. We believe Envera's 'e-business for business' model, which builds on existing business partner relationships, has distinct advantages for our customers and suppliers."

Lyondell Chemical Company, with headquarters in Houston, Texas, is the world's largest producer of propylene oxide (PO); the world's number two 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 is one of the largest refiners in the United States, processing extra heavy Venezuelan crude oil to produce gasoline, low sulfur diesel and jet fuel.

Lyondell is the third largest methanol producer in the U.S., through its 75% interest in Lyondell Methanol Company, L.P.

The statements in this release relating to matters that are not historical facts are forward-looking statements that are subject to risks and uncertainties, including, but not limited to, future global economic conditions, industry production capacity and operating rates, the supply/demand balance for the Company's products, competitive products and pricing pressures, further increases in raw material costs, changes in governmental regulations and other risks and uncertainties detailed in the Securities and Exchange Commission filings of Lyondell.
SOURCE Lyondell Chemical Company
Web site: http: //www.lyondell.com
CONTACT: media, Jackie Wilson, 713-652-4596, or Marvin Brown, 713-309-2643, or investors, Sami Ahmad, 713-309-7141, all of Lyondell Chemical Company