Millennium Chemicals Reschedules Date for Fourth Quarter and Year-End 2002 Earnings Results and Outlook and Internet Webcast/Teleconference to January 30, 2003


RED BANK, N.J., Jan. 27, 2003 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) had previously scheduled its announcement of its fourth quarter and full year 2002 operating results and outlook for today, January 27, 2003. Millennium now expects to reschedule its press release and conference call to Thursday, January 30, 2003, coinciding with the announcement date set for Lyondell Chemical Company, our partner in Equistar Chemicals, LP. This postponement is not being made in contemplation of any proposed transaction. The following is the proposed schedule for the press release and conference call:


 Earnings Release:  January 30, 2003 before the NYSE opens
                    By PrimeZone Media Network distribution and
                    Millennium's Website at:
                    http://www.millenniumchem.com,
                    click on Investor Relations

 Teleconference:    January 30, 2003 -- 1:00 p.m. EST

 Dial in Number:    973-582-2741
                    Please call 5-10 minutes before the scheduled
                    start of the teleconference

 Speakers:          Bill Landuyt, Chairman and CEO
                    Jack Lushefski, Sr. Vice President and
                    Chief Financial Officer
                    Mickey Foster, Vice President, Corporate and
                    Investor Relations

 Webcast:           You can conveniently view the slide presentation
                    and listen to remarks live by accessing our
                    Website http://www.millenniumchem.com and click
                    on Investor Relations

 Replay:            973-341-3080, ID# 3683721 available through
                    February 6, 2003

Millennium Chemicals (Website: www.millenniumchem.com) is a major international chemicals company, with leading market positions in a broad range of commodity, industrial, performance and specialty chemicals.

Millennium Chemicals Inc. is:



 -- The second-largest producer of TiO2 in the world and a leading
    producer of titanium tetrachloride, and other products, including
    zirconia, cadmium/selenium pigments and silica gel;

 -- the second-largest producer of acetic acid and vinyl acetate
    monomer in North America, and through its partnership interest in
    La Porte Methanol Company, LP, a partner in a leading U.S.
    producer of methanol;

 -- a leading producer of fragrance chemicals; and,

 -- through its partnership interest in Equistar Chemicals, LP, a
    partner in the second-largest producer of ethylene, and the
    third-largest producer of polyethylene in North America and a
    leading producer of ethylene oxide and its derivatives and high
    value-added specialty polymers.

The aforementioned statements relating to matters that are not historical facts are forward-looking statements that involve risks and uncertainties, including, but not limited to, future global economic conditions, production capacity, competitive products and prices and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings. In addition, the information presented here is intended to be accurate as of this date. Forward-looking information is intended to reflect the opinions as of this date; and, such information will not necessarily be updated by the Company.



            

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