PolyMirae Wins $600 Million Export Tower Award & The Order of Industrial Service Merit

December 04, 2008

Hong Kong, December 4, 2008 – PolyMirae Company Ltd, a joint venture company of LyondellBasell Industries and a leading Asian manufacturer and marketer of polypropylene, has been presented the $600 Million Export Tower Award. The company’s CEO, CJ Park, received the Order of Industrial Service Merit (Silver Grade).

PolyMirae received the $600 Million Export Tower Award for achieving an exceptional export growth rate of over 40% from July 2007 to June 2008, as compared with the same period year-on-year.

President of Korea MB Lee presented the Order of Industrial Service Merit Award to CJ Park for his enormous efforts in contributing to the growth of the country’s export business, including continuous development of new products that address market needs, and dedication to providing quality services.

Both awards were presented at the 45th Annual Trade Day ceremonies held on December 2, a legal memorial day that was established in 1964 when Korea exported $100 Million worth of exports annually. The Annual Trade Day is organized by the Ministry of Industry, Commerce and Energy to recognize companies and businessmen for their outstanding contributions to promoting export growth and economic development.

”PolyMirae’s strategy is to build upon the trust of our customers by meeting their expectations for value-added products,” said Park.  “With an extensive distribution network, our shareholders are also playing an important role in further enhancing our market activities.”

He added: “We are highly honored to be presented with these awards, and I would like to express my gratitude to our client companies, our shareholders and the authorities for their valuable support. I am very proud that PolyMirae continues to make important contributions to the expansion of our national economy.” 

According to Frank Kao, Divisional Vice President of Sales and Marketing for LyondellBasell in Asia: “PolyMirae, along with our other Asian joint ventures and wholly owned operations, is effectively meeting the region’s growing needs by providing innovative products and services that deliver a competitive advantage to customers.”

 # # #

PolyMirae, a joint venture between LyondellBasell, SunAllomer and Daelim, is a leading Asian manufacturer and marketer of polypropylene. It has four production lines using Spheripol technology located in Yeosu, Korea with an annual capacity of over 700KT. PolyMirae (www.polymirae.com) works together with LyondellBasell's technology team in the development of its products and has a broad customer base across Asia, spanning sectors from packaging and automotive to consumer goods and textiles.

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; 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.

For information, contact:

LyondellBasell Industries
Kathy Chan, +852 2585 0103 or kathy.chan@lyondellbasell.com

PolyMirae Company Ltd.
Yasmine Lee, +82 2 2167 8913 or yos.lee@polymirae.com