Rotterdam, Netherlands – December 15, 2008 – Polimérica, the joint venture between Pequiven, Petroquímica de Venezuela, and Braskem S.A., has selected LyondellBasell’s Lupotech T technology for a new 300 KT per year low density polyethylene (LDPE) plant to be built in Jose, State of Anzoategui, Bolivarian Republic of Venezuela. Start-up is expected in 2013.

The new plant represents the 20th Lupotech T license granted by LyondellBasell since 2000. A total of eight million tonnes of annual capacity has now been licensed and four licenses were granted in 2008 alone.

With its Lupotech T process, LyondellBasell pioneered high-pressure tubular LDPE technology, and by 2000, the company invested in the first world-scale plant in Aubette, France.

Just Jansz, President of LyondellBasell’s Technology Business, reflected on this milestone: “Our Lupotech T plant in Aubette, France, represented a dramatic step-change for economy of scale in the LDPE industry. Subsequently Lupotech T has firmly established itself as the LDPE technology that combines best-in-class investment and operational economics with outstanding product performance and an excellent safety record at world scale capacities well beyond 300 KT”.

In addition to the Lupotech T process, LyondellBasell’s portfolio of licensed polyolefin technologies and associated technical services is comprised of:

• Lupotech A – High pressure autoclave process for the production of specialty LDPE and EVA copolymers
• Spherilene – Advanced swing-gas-phase process for the production of LLDPE, MDPE and monomodal and bimodal HDPE
• Hostalen – Leading low-pressure slurry process for the production of high-end multimodal HDPE
• Spheripol – Leading polypropylene technology for the production of homopolymer, random and heterophasic copolymers
• Spherizone – Latest-generation polypropylene technology, based on a multi-zone reactor for the production of polypropylene and novel polyolefins
• Metocene PP - Innovative add-on technology for the production of specialty polypropylene products using single-site catalyst systems

About LyondellBasell
LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; a significant producer of advanced fuel products; and the owner of one of North America’s largest full-conversion refineries. 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.