HOUSTON, Oct. 3 /PRNewswire-FirstCall/ -- On Oct. 2, 2002, the Board of Directors of Lyondell Chemical Company (NYSE: LYO) declared a regular quarterly dividend of $0.225 per share of common stock to stockholders of record as of the close of business on Nov. 25, 2002.

Lyondell has two series of common stock outstanding: Common Stock and Series B Common Stock.??The regular quarterly dividend on each share of outstanding Common Stock is payable in cash on Dec. 16, 2002.??Lyondell has elected to pay the regular quarterly dividend on each share of outstanding Series B Common Stock in kind in the form of additional shares of Series B Common Stock on Dec. 31, 2002.

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 70.5% 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.

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SOURCE??Lyondell Chemical Company

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/CONTACT:??media, Anne M. Knisely, +1-713-309-2643, or investors, Douglas J. Pike, +1-713-309-7141, both of Lyondell Chemical Company/

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

(LYO)

CO:??Lyondell Chemical Company
ST:??Texas
IN:??CHM
SU:??DIV

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6911 10/03/2002 08:30 EDT http://www.prnewswire.com