Millennium Chemicals Announces Global Price Increases in Acetyls Business


HUNT VALLEY, Md., Jan. 29, 2003 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Millennium") today announced the following price increases of vinyl acetate monomer (VAM) and glacial acetic acid (GAA) effective February 14, 2003:


 North America:      VAM - US $0.03/pound or as contracts permit
                     GAA - US $0.015/pound or as contracts permit.

 South America:      VAM - US $75/metric ton.

 Europe:             VAM - Euros 65/metric ton
                     GAA - Euros 30/metric ton or as contracts permit.

 Asia, including
  the Middle East:   VAM - US $70/metric ton
                     GAA - US $65/metric ton. 

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 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;

- 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 third-largest producer of polyethylene in North America, and a leading producer of performance polymers, oxygenated chemicals, aromatics and specialty petrochemicals.



            

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