S.m.S.lyondell.75 percent interest in
LYONDELL-CITGO Refining LP, a refiner of heavy, high-sulfur crude oil.
(D) Inorganic Chemicals operating income (loss) included impairment
charges of $3 million in each of the third and second quarters of
2005 and $8 million in the first nine months of 2005 that are
excluded from EBITDA.

Table 12 - Lyondell Unaudited Balance Sheet Information

September 30, December 31,
(Millions of dollars) 2005 2004
Cash and cash equivalents $652 $804
Accounts receivable, net 1,869 1,569
Inventories 1,713 1,619
Prepaid expenses and other current
assets 150 189
Deferred tax assets 416 276
Total current assets 4,800 4,457
Property, plant and equipment, net 6,619 7,215
Investments and long-term
receivables:
Investment in PO joint ventures 788 838
Investment in and receivable
from LCR 143 192
Other investments and long-term
receivables 160 160
Goodwill, net 2,219 2,175
Other assets, net 844 924
Total assets $15,573 $15,961

Accounts payable $1,472 $1,202
Current maturities of long-term debt 256 308
Accrued liabilities 801 785
Total current liabilities 2,529 2,295
Long-term debt 6,617 7,555
Other liabilities 1,791 1,780
Deferred income taxes 1,671 1,477
Minority interest 182 181
Stockholders' equity (246,918,784
and 243,684,998 shares outstanding at
September 30, 2005 and December 31,
2004, respectively) 2,783 2,673
Total liabilities and stockholders'
equity $15,573 $15,961

Tables 13 through 21 represent additional financial information
on a 100% basis for Equistar, Millennium and LCR .

olefins propylene

, Formosa Plastics Corporation,
U.
While the October 6 incident remains under investigation , the U..

This compares with net
income of $50 million, or 28 cents per share, for the third quarter 2004, and
net income of $126 million, or 48 cents per share, for the second quarter
2005.50
per share on a fully diluted basis, compared with net income of $38 million,
or 21 cents per share, during the first nine months of 2004.04 0.21
Basic weighted average
shares outstanding
(millions) 246.
The call will be broadcast live on the Investor Relations page of the
company's web site, http://www., Millennium and Equistar Chemicals , LP are wholly owned subsidiaries of
Lyondell. These
forward-looking statements are based upon the current beliefs and expectations
of management, and are subject to significant risks and uncertainties . See Tables 13 and 16 for additional Equistar and
Millennium financial information, respectively .04 $0.5 178.

veronelli organoclay

Smith, president and CEO of Lyondell Chemical Company.m.

Table 8 - Reconciliation of Segment Information to Consolidated Lyondell
Financial Information

Sales and
other Operating Depreciation
operating income and Capital
(Millions of dollars ) revenues (loss) amortization expenditures

For the three months ended
September 30, 2005:

Segment Data
Ethylene, Co-Products +
Derivatives $2,988 $22 $95 $34
PO + Related Products 1,848 70 59 11
Inorganic Chemicals 345 (16) 26 13
Other (A) (386) (4) 2 ---
Total $4,795 $72 $182 $58

For the nine months ended
September 30, 2005:

Segment Data
Ethylene, Co-Products +
Derivatives $8,811 $618 $286 $103
PO + Related Products 4,939 300 177 41
Inorganic Chemicals 1,005 21 76 32
Other (A) (1,132) (9) 6 2
Total $13,623 $930 $545 $178

For the three months ended
June 30, 2005:

Segment Data
Ethylene, Co-Products +
Derivatives $2,849 $201 $96 $32
PO + Related Products 1,562 134 60 16
Inorganic Chemicals 342 16 26 14
Other (A) (371) (3) 3 ---
Total $4,382 $348 $185 $62

(A) Includes elimination of intersegment transactions and items not
allocated to segments.04 $0.
(C) The third quarter and first nine months of 2005 included $39 million
and $45 million, respectively , of charges representing revisions to
Lyondell's previous estimates of expected future environmental
remediation spending.

strontium sharda

59 0. While third-quarter results were
obviously reduced by the storms and impairment of our Lake Charles TDI plant,
the breadth of our product portfolio served us well during the quarter. In refining, problems
encountered during start-up after Hurricane Rita have continued and currently
are expected to reduce refining rates to between 30 percent and 50 percent
until late November.75 percent ownership of LYONDELL-CITGO Refining (LCR), a joint venture with
CITGO Petroleum Corp.m. See Table 13 for
additional Equistar financial information. See
Table 10 for PO and Related Products data for the three and nine
months ended September 30, 2004. The
Inorganic Chemicals segment is presented prospectively from
December 1, 2004.6 177.

thiocyanate borates

5
Diluted weighted
average shares
outstanding
(millions ) (B) 260. Prior to December 1, 2004,
Lyondell's 70.
A replay of the call will be available from 1:30 p.m. The dial-in numbers are 866-435-1326 (U. It also is a significant producer of gasoline
blending components.
(B) In consideration of discounts offered to certain customers for early
payment for product, some receivable amounts were collected in
September 2005 and 2004 that otherwise would have been expected to be
collected in October of the respective years.
(B) Sales and other operating revenues include sales to affiliates .

Table 17 - Millennium Unaudited Balance Sheet Information (A)

September 30, December 31,
(Millions of dollars) 2005 2004

Cash and cash equivalents $178 $344
Accounts receivable, net 339 318
Inventories 425 414
Prepaid expenses and other current assets 88 79
Total current assets 1,030 1,155
Property, plant and equipment, net 659 707
Investments 448 457
Goodwill 104 104
Other assets, net 94 107
Total assets $2,335 $2,530

Accounts payable $256 $291
Current maturities of long-term debt 6 7
Accrued liabilities 125 156
Total current liabilities 387 454
Long-term debt 1,156 1,398
Other liabilities 621 536
Deferred income taxes 171 164
Minority interest 46 33
Stockholders' deficit
(100,000,000 shares authorized;
66,135,816 shares issued) (46) (55)
Total liabilities and stockholders'
equity $2,335 $2,530

(A) Represents information for Millennium on a stand-alone basis and does
not reflect purchase accounting adjustments.

sharda thiocyanate

51 1. "While pricing
trends were established in advance of the hurricanes, these changes
accelerated and became far more pronounced as a result of the
hurricane -related disruptions.

Ethylene, Co-products and Derivatives Segment -- The primary products of
this segment are ethylene, ethylene co-products (propylene, butadiene and
benzene) and derivatives of ethylene (polyethylene, ethylene oxygenates and
vinyl acetate monomer or VAM).

monohydrate strontium

Lyondell Reports Third-Quarter 2005 Results

This reflects primarily the finalization of income tax liabilities relating to
prior years, partially offset by higher foreign earnings that are effectively
taxed at higher rates.
The second quarter 2005 included pre-tax charges of $14 million related to
a mutual insurance consortium and $9 million related to debt reduction. The propylene oxide
segment has continued to benefit from global MTBE margins that, although
seasonally lower than the third quarter, are much stronger than typical for
this time of year, while the inorganics segment has benefited from
hurricane-related outages at two competitor facilities. The shortfall was
primarily related to Hurricane Rita. Higher natural gas prices and lower
aromatic margins negatively impacted results while spot crude oil margins
increased. (Distributions from LCR totaled $127 million and contributions to
LCR totaled $30 million.lyondell. ET October 27 at
http://www. Lyondell is a global company operating on five continents and
employs approximately 10,000 people worldwide.S.
(D) The Refining information presented represents the historical
operating results of LCR on a 100 % basis.

toluene ppb

Repairs Underway on Damaged Olefins II Unit
Completion Schedule Called "Short-Term"

LIVINGSTON, N.J.S..1 245.4 million barrels
* Based on August prices and variable costs as reported by industry
consultants, as well as internal estimates, the pre-tax value of
Lyondell's lost production in late September caused by Hurricane Rita
is estimated to be approximately $75 million to $100 million, or
19 cents to 25 cents per share (after tax)."

OUTLOOK
Thus far in the fourth quarter, prices for most chemical products have
increased rapidly in response to both increased costs and tight supply /demand
balances.51 $1.

yida xylenes

Formosa's Point Comfort, Texas, facility covers 1,800 acres and
employs nearly 2,000 people in 13 production units, testing labs, and research
and development labs.

ABOUT LYONDELL
Lyondell Chemical Company, headquartered in Houston, Texas, is North
America 's third-largest independent, publicly traded chemical company.

Table 9 - Reconciliation of Segment EBITDA to Net Income

For the three months For the nine
ended months ended
September 30, June 30, September 30,
(Millions of dollars) 2005 2004 2005 2005 2004

LYONDELL
Segment EBITDA:
Ethylene , Co-Products +
Derivatives (A) $116 $--- $294 $896 $---
PO + Related Products 321 106 186 653 274
Inorganic Chemicals (B ) 3 --- 52 102 ---
Other (1) --- (2) (2) ---
Add:
Income from equity investment
in Equistar --- 54 --- --- 93
Income from equity investment
in LCR 53 89 19 139 208
Deduct:
Depreciation and amortization (182) (59) (185) (545) (186)
Interest expense, net (149 ) (108) (155) (462) (325)
Benefit from (provision for)
income taxes 54 (26) (71) (160) (20)
Asset impairment charges (198) --- (3) (203) ---
Debt prepayment premiums and
charges (7) (6) (9) (28) (6)
Lyondell net income $10 $50 $126 $390 $38

Equistar EBITDA (C) $208 $519
Deduct:
Depreciation and amortization (81) (234)
Interest expense, net (55) (165)
Equistar net income $72 $120

Refining EBITDA (D) $130 $182 $65 $341 $452
Deduct:
Depreciation and amortization (30) (29 ) (28) (86) (87)
Interest expense, net (9) (6) (9) (26) (24 )
LCR net income $91 $147 $28 $229 $341

(A) The EC +D segment information reflects the consolidation of Millennium
and Equistar prospectively from December 1, 2004.

Table 10 - Lyondell Unaudited Income Statement Information (A)

For the three For the nine
months ended months ended
September 30, June 30, September 30,
(Millions of dollars, except
per share data) 2005 2004 2005 2005 2004
Sales and other operating
revenues $4,795 $1,307 $4,382 $13,623 $3,573
Cost of sales 4,350 1,195 3,876 12,008 3,308
Asset impairments 198 --- 3 203 ---
Selling, general and
administrative expenses 152 55 133 414 149
Research and development
expenses 23 8 22 68 24
Operating income 72 49 348 930 92
Income from equity investment
in Equistar --- 54 --- --- 93
Income from equity investment
in LCR 53 89 19 139 208
Income (loss) from other equity
investments 2 1 (1) 2 3
Interest expense, net (149) (108) (155) (462) (325)
Other expense , net (22) (9) (14) (59) (13)
Income (loss) before income
taxes (44) 76 197 550 58
Provision for (benefit from)
income taxes (54) 26 71 160 20
Net income $10 $50 $126 $390 $38

Basic earnings per share: $0.21
Diluted earnings per share: $0.

Table 13 - Equistar Unaudited Income Statement Information (A)

For the three For the nine
months ended months ended
September 30, June 30, September 30,
(Millions of dollars) 2005 2004 2005 2005 2004
Sales and other operating
revenues (B) $2,867 $2,439 $2,700 $8,428 $6,500
Cost of sales 2,776 2,255 2,447 7,640 6,063
Selling, general and
administrative expenses 52 47 47 146 129
Research and development
expenses 8 8 9 25 23
Gain on asset dispositions --- --- --- --- (4)
Operating income 31 129 197 617 289
Interest expense, net (56) (55) (54) (164) (165)
Other expense, net (3) (2) (1) (7) (4)
Net (loss) income (C) $(28) $72 $142 $446 $120

(A) Represents information for Equistar on a stand-alone basis and does
not reflect purchase accounting adjustments .

monohydrate ppb

S.5 178. The pressures and uncertainties caused by extremely high and
volatile raw material costs continue to be a concern, but are somewhat
mitigated by our greater reliance on crude oil-based raw materials rather than
natural gas," said Smith. Prior to December 1, 2004, Equistar was
accounted for as an equity investment.4 179.9 259.0 259.

Table 16 - Millennium Unaudited Income Statement Information (A) (C)

For the three For the nine
months ended months ended
September 30, June 30, September 30,
(Millions of dollars) 2005 2005 2005
Sales and other operating
revenues (B) $489 $515 $1,457
Cost of sales 448 424 1,237
Selling, general and
administrative expenses 77 45 165
Research and development expenses 5 6 17
Asset impairments 3 3 8
Combination costs 2 --- 2
Operating income (loss) (46) 37 28
Interest expense, net (24) (25) (73)
Other expense, net (18) 5 (22)
Income (loss) before equity
investment, minority interest
and income taxes (88) 17 (67)
Income (loss) from equity
investment in Equistar (8) 42 132
Income (loss) before income
taxes and minority interest (96) 59 65
Provision for (benefit from ) income
taxes (26) 20 31
Income before minority interest (70) 39 34
Minority interest (2) (1) (4)
Net income (loss) $(72) $38 $30

(A) Represents information for Millennium on a stand-alone basis and does
not reflect purchase accounting adjustments.

sharda hydroxide

In addition, the company said repairs were already underway on the
"Olefins II" Unit which suffered some damage in what is known as the
purification area as a result of an explosion and fire on October 6.
The PVC, PP, PE and chlor-alkali units , along with the facility's other
units are operating reduced rates as a result of Olefins II being offline.
Chemical Safety and Hazard Investigation Board reported that they will not
recommend a full root-cause investigation.,
TDI facility

* Value of lost production caused by Hurricane Rita estimated to
be $75 million to $100 million (pre-tax)

* Strong margins in gasoline components, particularly MTBE, offset raw
material cost pressures in chemicals

* Debt reduced by $1.

Table 2 - Ethylene, Co-Products + Derivatives Financial Overview (A)

1st Nine 1st Nine
Millions Months Months
of dollars 3Q 2005 3Q 2004 2Q 2005 2005 2004
Sales and other
operating revenues $ 2,988 $ 2,439 $ 2,849 $ 8,811 $ 6,500
Operating income 22 129 201 618 289
EBITDA (B) 116 208 294 896 519

(A) For periods prior to Total crude processing rates were approximately 27,000
barrels per day lower than third-quarter 2004 rates.
Smith, President and CEO; Morris Gelb, Executive Vice President and COO; T. The passcode for each is 5549.
Reconciliations of non-GAAP financial measures to GAAP financial measures,
together with any other applicable disclosures, including this earnings
release, will be available at 11:30 a.

Table 19 - LCR Unaudited Income Statement Information

For the three For the nine
months ended months ended
September 30, June 30, September 30,
(Millions of dollars) 2005 2004 2005 2005 2004
Sales and other operating
revenues (A) $2,202 $1,546 $1,563 $5,301 $4,039
Cost of sales 2 ,091 1,393 1,515 5,012 3,643
Selling, general and
administrative expenses 11 14 11 34 45
Operating income 100 139 37 255 351
Interest expense, net (9) (6) (9) (26) (24)
Other income --- 14 --- --- 14
Net income (B) $91 $147 $28 $229 $341

EBITDA (C) $130 $182 $65 $341 $452

(A) Sales and other operating revenues include sales to affiliates.

hydroxide hydrosulfite

The company has annual revenues of $3.4 179.5% interest in Equistar was accounted for as an equity
investment. While this did not manifest
itself in reduced production of ethylene, propylene oxide or titanium
dioxide at Lyondell, or reduced crude processing at LYONDELL-CITGO
Refining (LCR), it did impact some derivative production .

CONFERENCE CALL
Lyondell will host a conference call today, October 27, 2005, at
11:30 a. Eastern Time (ET).lyondell.

FORWARD-LOOKING STATEMENTS
The statements in this release and the related teleconference relating to
matters that are not historical facts are forward-looking statements. The Refining information presented
above represents the historical operating results of LCR on a 100%
basis.28 $0.

Table 11 - Lyondell Unaudited Cash Flow Information (A)

For the nine months ended
September 30,
(Millions of dollars) 2005 2004
Net income $390 $38
Adjustments:
Depreciation and amortization 545 186
Asset impairments 203 ---
Income from equity investments (141) (304)
Distributions of earnings from
affiliates 140 281
Deferred income taxes 112 16
Debt prepayment charges and
premiums 28 6
Changes in assets and liabilities:
Accounts receivable (358) (98)
Inventories (142) (24)
Accounts payable 323 47
Accrued interest 42 74
Other, net (51) 34
Cash provided by operating
activities 1,091 256

Expenditures for property, plant and
equipment (178 ) (43)
Distributions from affiliates in
excess of earnings 123 105
Contributions and advances to
affiliates (90) (32)
Other 3 ---
Cash provided by (used in)
investing activities (142) 30

Repayment of long-term debt (1,072) (105)
Issuance of long-term debt 99 ---
Dividends paid (166) (95)
Exercise of stock options 46 9
Other 3 (1)
Cash used in financing
activities (1,090) (192)

Effect of exchange rate changes on
cash (11) (1)

Increase (decrease) in cash and cash
equivalents $(152 ) $93

(A) Equistar and Millennium became wholly owned subsidiaries as of
December 1, 2004.

hydrazine zno

The company said that its Olefins I unit, which supplies the ethylene and
propylene feedstock - key ingredients - to other downstream production units,
was operating at full capacity.
"At this time, with the exception of LCR and previously scheduled
maintenance turnaround activity at one propylene oxide plant, all of our major
plants are operating at or near full capacity, and we believe our chemical
businesses are well positioned to respond to post-hurricane supply/demand
tightness.

LYONDELL BUSINESS RESULTS DISCUSSION BY BUSINESS SEGMENT
Lyondell's operations are reported in four segments: 1) Ethylene,
co-products and derivatives; 2) Propylene oxide (PO) and related products;
3) Inorganic chemicals; and 4) Refining, which consists of Lyondell's
58.
Kevin DeNicola, Senior Vice President and CFO; and Doug Pike, Vice President
of Investor Relations. - toll
free) and 517-645-6239 (international). ET October 27 to
5 p .
Lyondell is a major global manufacturer of basic chemicals and derivatives
including ethylene , propylene, titanium dioxide, styrene, polyethylene,
propylene oxide and acetyls.59 $0.7 178 .

hydroxide thiocyanate

Within the ethylene segment, elevated natural gas costs and strong
co-product markets favor liquid raw material economics.) Lyondell Chemical Company paid $200 million toward
early debt reduction , while Millennium Chemicals reduced debt by a net
$211 million through the combination of purchasing $311 million of debt and
issuing $100 million of debt at its Australian subsidiary.) and
203-369 -1022 (international).S.
(B) Sales include sales to affiliates and intersegment sales. The Refining information
presented above represents the historical operating results of LCR
on a 100% basis.

zno thiocyanate

See Table 19 for additional LCR financial information.28 $0.48 $1.21

Weighted average shares
(in millions):
Basic 246 .1 245.

toluene citric

announced today that production of polyvinyl chloride (PVC),
polyethylene (PE) and polypropylene (PP) plastic resin and chlor-alkali
(caustic soda) has resumed at the company's Point Comfort, Texas facility.

The third quarter 2005 includes several pre-tax charges:
* $195 million for impairment of the carrying value of Lyondell's Lake
Charles, La. Web replay will
be available at 2:30 p.7

(A) Results of operations include the operations of Equistar and
Millennium prospectively from December 1, 2004.
(B) As a partnership, LCR is not subject to federal income taxes.

Table 20 - LCR Unaudited Balance Sheet Information

September 30, December 31,
(Millions of dollars ) 2005 2004

Total current assets $487 $359
Property, plant and equipment, net 1,289 1 ,227
Other assets, net 83 61
Total assets $1,859 $1,647

Current maturities of long-term debt $5 $5
Other current liabilities 883 583
Long-term debt 440 443
Loans payable to partners 264 264
Other liabilities 107 112
Partners' capital 160 240
Total liabilities and partners' capital $1,859 $1,647

Table 21 - LCR Unaudited Cash Flow Information

For the nine months ended
September 30,
(Millions of dollars) 2005 2004
Cash flow from operations $440 $522
Capital expenditures 121 42
Depreciation and amortization 86 87

toluene thiocyanate

$50 million or 28 cents per share a year ago

* Results reflect a pre-tax charge of $195 million or 49 cents per
share (after tax) related to the shutdown of Lake Charles, La.2 billion since September 2004; debt reduced by
$411 million in third quarter

HOUSTON, Lyondell Chemical Company
(NYSE: LYO) today announced net income for the third quarter 2005 of
$10 million, or 4 cents per share on a fully diluted basis, including third-
quarter charges and hurricane impacts described below.04 0., toluene diisocyanate (TDI) facility, which is part of the
Propylene Oxide and Related Products segment
* $30 million related to an industry mutual insurance consortium,
including the effects of both Hurricanes Katrina and Rita, which
impacts all segments
* $7 million related to the early retirement of debt

Also, net income in the third quarter 2005 reflects a benefit of
$38 million due to a reduction in the estimated income tax rate for the year. The
third quarter 2004 included pre -tax charges of $6 million related to debt
reduction. The passcode for each is Lyondell.
Additional factors that could cause results to differ materially from those
described in the forward-looking statements can be found in the Lyondell,
Equistar and Millennium Annual Reports on Form 10-K for the year ended
December 31, 2004, and the Lyondell, Equistar and Millennium Quarterly Reports
on Form 10-Q for the quarter ended September 30, 2005 which will be filed with
the SEC in November 2005 .9 245. Prior to
December 1, 2004, Equistar was accounted for as an equity investment .

Table 15 - Equistar Unaudited Cash Flow Information (A)

For the nine months ended
September 30,
(Millions of dollars) 2005 2004
Net income $446 $120
Adjustments:
Depreciation and amortization 238 234
Deferred maintenance
turnaround expenditures (51) (55)
Gain on asset dispositions --- (4)
Changes in assets and liabilities:
Accounts receivable (B) (191 ) (205)
Inventories (94) (89 )
Accounts payable 340 80
Accrued interest (17) (16)
Other, net (9) 11
Cash provided by operating activities 662 76

Expenditures for property, plant
and equipment (103) (69)
Proceeds from sales of assets 3 41
Cash used in investing activities (100) (28)

Distributions to owners (475) (100 )
Repayment of long-term debt (1) ---
Other 7 ---
Cash used in financing activities (469) (100)

Increase (decrease) in cash and cash
equivalents $93 $(52)

(A) Represents information for Equistar on a stand-alone basis and does
not reflect purchase accounting adjustments.
(C) See Table 9 for reconciliation of LCR's net income to EBITDA.

borates thiocyanate

Formosa Plastics Corporation, U. * Lyondell reports net income of $10 million or 4 cents per share on a
fully diluted basis vs. The dial-in numbers are 888-391-2385 (U. See Table 8 for a
reconciliation of segment information for the three months and nine
months ended September 30, 2005 and for the three months ended
June 30, 2005 to consolidated Lyondell financial information.
(C) PO+RP operating income for the third quarter and first nine months of
2005 included an impairment charge of $195 million, which is excluded
from EBITDA .
(E) See Table 9 for reconciliation of segment EBITDA to net income.
(C) As a partnership , Equistar is not subject to federal income taxes.

olefins toluene

While no
detailed repair schedule was released , Formosa said it would be short-term,
noting that other major components of the Olefins II Unit are undamaged. For the first nine months of 2005, net income was $390 million, or $1.48 1.9 245 .9 259.
All of Lyondell's Gulf Coast sites were shut down for the storm, and
minor damage was sustained at several sites. Compared with nameplate capacity,
estimated lost production for certain key products during the third
quarter was approximately:
-- Ethylene - 200 million pounds
-- Propylene oxide - 60 million pounds
-- LCR crude processing - 2.

"The third quarter was shaped by Hurricanes Katrina and Rita, rapid
increases in raw material costs and tight refined product markets," said Dan
F.

sunoco phytate

Production Resumes at Formosa Plastics' Point Comfort Plant

The propylene
released by the break vaporized into a cloud and traveled along the ground
until it found an ignition source.8 billion and 2,700
employees .28 0.
Other effects of Hurricanes Katrina and Rita on third-quarter 2005 results
include the following:
* Hurricane Katrina did not directly impact any assets, but did impact
several suppliers and logistics providers. In addition to shutdown
and start-up costs at these facilities, the company experienced lost
production during the down time. Lyondell acquired Millennium on November 30,
2004; Millennium's acetyls products are included in this segment .S. ET on November 4.com/earnings . For periods prior
to December 1, 2004, Equistar was accounted for as an equity
investment.
(B) The Inorganic Chemicals segment information reflects the
consolidation of Millennium prospectively from December 1, 2004.5
Diluted 260.

yida borates

m. Actual
results could differ materially based on factors including, but not limited
to, costs associated with changes in plant status and related matters;
availability, cost and price volatility of raw materials and utilities;
supply/demand balances; industry production capacities and operating rates;
operating interruptions; uncertainties associated with the U.
(C) The Equistar information presented represents the historical
operating results of Equistar on a 100% basis. See Table 19 for
additional LCR financial information .

tetrachloride hydrazine

A.

Table 1 - Lyondell Earnings Summary (A)

Millions of 1st Nine 1st Nine
dollars except Months Months
per share amounts 3Q 2005 3Q 2004 2Q 2005 2005 2004
Sales and other
operating revenues $ 4,795 $ 1,307 $ 4,382 $ 13,623 $ 3,573
Net income 10 50 126 390 38
Basic earnings
per share 0.28 0.50 0.com/earnings . As a
result of Lyondell's November 30, 2004 acquisition of Millennium Chemicals
Inc.;
access to capital markets; technological developments; and other risk factors.

Table 6 - Selected Unaudited Segment Financial Information (A)

For the three For the nine
months ended months ended
September 30, June 30, September 30,
(Millions of dollars) 2005 2004 2005 2005 2004
Sales and other operating
revenues (B)
Ethylene , Co-Products +
Derivatives $2,988 $2,439 $2,849 $8,811 $6,500
PO + Related Products 1,848 1,307 1,562 4,939 3,573
Inorganic Chemicals 345 --- 342 1,005 ---
Refining 2,202 1,546 1,563 5,301 4,039

Operating income (loss)
Ethylene, Co-Products +
Derivatives $22 $129 $201 $618 $289
PO + Related Products (C) 70 49 134 300 92
Inorganic Chemicals (D) (16) --- 16 21 ---
Refining 100 139 37 255 351

Depreciation and amortization
Ethylene, Co-Products +
Derivatives $95 $81 $96 $286 $234
PO + Related Products 59 59 60 177 186
Inorganic Chemicals 26 --- 26 76 ---
Refining 30 29 28 86 87

EBITDA (E)
Ethylene, Co-Products +
Derivatives $116 $208 $294 $896 $519
PO + Related Products (C) 321 106 186 653 274
Inorganic Chemicals (D) 3 --- 52 102 ---
Refining 130 182 65 341 452

Capital expenditures
Ethylene, Co-Products +
Derivatives $34 $28 $32 $103 $69
PO + Related Products 11 16 16 41 43
Inorganic Chemicals 13 --- 14 32 - --
Refining 38 13 49 121 42

(A) The EC+D data for periods prior to January 1, 2005 represents
Equistar results on a 100% basis .

Table 7 - Selected Segment Sales Volumes (A) (B)

For the three months For the nine
ended months ended
September 30, June 30, September 30,
2005 2004 2005 2005 2004
Ethylene, Co-Products and
Derivatives (in millions)
Ethylene and derivatives
(pounds) 2,834 2,836 2,848 8,590 8,315
Polyethylene included above
(pounds) 1,409 1,467 1,341 4,087 4,243
Co-products, nonaromatic
(pounds) 1,899 2,038 1,862 5,795 5,914
Aromatics (gallons ) 100 99 107 309 272

PO and Related Products
(in millions )
PO and derivatives (pounds) 790 794 731 2,405 2,445
Co-products:
Styrene monomer (pounds) 953 962 1,045 2,980 2,723
MTBE and other TBA
derivatives (gallons) 298 269 297 878 825

Inorganic Chemicals (thousand
metric tons)
TiO2 160 --- 154 456 ---

Refined products (thousand
barrels per day)
Gasoline 125 117 110 117 118
Diesel and heating oil 85 99 85 86 96
Jet fuel 16 20 8 15 17
Aromatics 7 9 10 8 9
Other refined products 92 99 70 83 92
Total refined products
volumes 325 344 283 309 332
Refinery Runs
Crude processing rates (thousand
barrels per day)
Crude Supply Agreement 212 243 165 199 238
Other crude oil 33 29 28 34 29
Total crude oil 245 272 193 233 267

(A) The EC+D data for periods prior to January 1, 2005 represent Equistar
results on a 100 % basis.
(B) Sales volumes include sales to affiliates and intersegment sales. See Table 13 for
additional Equistar financial information.50 $0. Prior to December 1, 2004, Lyondell 's investment
in Equistar was accounted for on an equity basis.

Table 14 - Equistar Unaudited Balance Sheet Information (A)

September 30, December 31,
(Millions of dollars) 2005 2004

Cash and cash equivalents $132 $39
Accounts receivable , net 1,017 826
Inventories 682 582
Prepaid expenses and other
current assets 49 43
Total current assets 1,880 1,490
Property, plant and equipment, net 3,079 3,167
Investments 59 60
Other assets, net 364 357
Total assets $5,382 $5,074

Accounts payable $879 $532
Current maturities of long-term debt 150 1
Accrued liabilities 254 273
Total current liabilities 1,283 806
Long-term debt 2,161 2,312
Other liabilities and deferred revenues 408 395
Partners' capital 1,530 1,561
Total liabilities and partners' capital $5,382 $5,074

(A) Represents information for Equistar on a stand-alone basis and does
not reflect purchase accounting adjustments. This included
$55 million and $51 million from Occidental Chemical Corporation in
September 2005 and 2004, respectively .

barium citric

About Formosa .7 178.7

(A) Results include the operations of Equistar and Millennium
prospectively from December 1, 2004. Approximately half of this
can be attributed to the Ethylene, Co-Products and Derivatives segment,
with the balance split between the Propylene Oxide and Related Products
segment and the Refining segment (Lyondell 's share of LCR). Overall, I am happy to say that Lyondell's
assets fared well through the storms .

Cash Distributions and Debt Reduction
During the third quarter 2005, net distributions from LCR to Lyondell were
$97 million. Participating on the call will be: Dan F.com/earnings . The company has a 58. and worldwide
economies; current and potential governmental regulatory actions; terrorist
acts; international political unrest; legal, tax and environmental
proceedings; cyclical nature of the chemical and refining industries;
competitive products and pricing; risks of doing business outside of the U.

Table 18 - Millennium Unaudited Cash Flow Information (A)

For the nine months ended
September 30, 2005
(Millions of dollars)
Net income $30
Adjustments:
Asset impairments 8
Depreciation and amortization 82
Debt prepayment charges and premiums 10
Deferred income taxes (18)
Income from equity investment in Equistar (132)
Distributions of earnings from Equistar 132
Changes in assets and liabilities:
Accounts receivable (23)
Inventories (19)
Accounts payable (25)
Other, net 71
Cash provided by operating activities 116

Expenditures for property, plant and equipment (34)
Distributions from Equistar in excess
of earnings 8
Cash used in investing activities (26)

Repayment of long-term debt (349)
Issuance of long-term debt 99
Contribution from Lyondell 6
Distributions to minority interests (5)
Other (1)
Cash used in financing activities (250)

Effect of exchange rate changes on cash (6)

Decrease in cash and cash equivalents $(166)

(A) Represents information for Millennium on a stand-alone basis and does
not reflect purchase accounting adjustments.

monohydrate yida

The company said it is working with the Formosa Plastics Group of Taiwan to
supplement production and meet customer demand. The initial phase of the company's
internal investigation, supported by numerous eye witness accounts, determined
that the fire and explosion were caused when a contractor's employee, using a
forklift truck to move a cart, struck a liquid propylene line.A. manufactures plastic resins and
petrochemicals.
(B) Includes the dilutive effect of the convertible debentures and
outstanding stock options and warrants. Prior to December 1, 2004,
Equistar was accounted for as an equity investment .

barium yida

21
Diluted earnings
per share (B) 0.6 177.0 259.
* Hurricane Rita's impact on both assets and production was more direct. ET October 27 on the Investor Relations page of the
company's web site, http://www.
(B) Sales and other operating revenues include sales to affiliates.