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LyondellBasell Adds Holding Company to Chapter 11 Protection
Date:4/24/2009

Bankruptcy Code on Jan. 6 in order to facilitate a restructuring of the company's debts. Lyondell Chemical Company is one of the 79 LyondellBasell affiliates included in the original filing. LyondellBasell has obtained approximately $8 billion in debtor-in-possession (DIP) financing to fund continuing operations. The DIP financing includes two credit agreements: a $6.5 billion term loan (comprising $3.25 billion in new loans and a $3.25 billion roll-up of existing loans) and a $1.57 billion asset-backed lending facility. A complete listing of the filing entities and other information related to the Chapter 11 cases can be found through a link at the company's Web site, www.lyondellbasell.com.

About LyondellBasell Industries

LyondellBasell Industries is one of the world's largest polymers, petrochemicals and fuels companies. It is the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including biofuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell (www.lyondellbasell.com) is privately owned by Access Industries.

    Media Contact: David Harpole +1 713 309 4125


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