THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Lyondell Chemical Company (LYO)

3/15/2006 Proxy Information

Mr. Chazen is Senior Executive Vice President and Chief Financial Officer for Occidental Petroleum Corporation. Occidental owns 14.0% of LYO shares.

Lyondell believes that the transactions described in this section were obtained on terms substantially no more or less favorable than those that would have been agreed upon by unrelated parties on an arm’s-length basis. Lyondell generally expects that transactions of a similar nature will occur during 2006.

Lyondell and LCR engage in numerous transactions. In 2005, LCR purchased approximately $922 million of products from Lyondell, and Lyondell purchased approximately $394 million of products from LCR. Lyondell and LCR also provide various administrative, operational and other services to each other. A wide variety of corporate services are shared, which may from time to time include human resources, public relations, supply chain, legal, financial reporting, treasury, internal audit, and tax. Lyondell and LCR are also parties to tolling, terminaling and storage, marketing, plant-related transportation and other arrangements. For 2005, Lyondell billed LCR $27 million for these services, and LCR billed Lyondell $500,000 for these services. In addition, Mr. Smith’s son-in-law is an engineer employed at one of Lyondell’s manufacturing facilities and his compensation in 2005 was less than $150,000 and is commensurate with his peers’.

Lyondell and Occidental have engaged in numerous transactions. On November 30, 2004, Lyondell acquired Millennium, thereby also indirectly acquiring Millennium’s 29.5% interest in Equistar. As a result, Equistar and Millennium now are wholly owned subsidiaries of Lyondell. However, from May 1998 to August 2002, Occidental shared ownership of Equistar with Lyondell and Millennium until Lyondell purchased Occidental’s interest in Equistar in August 2002. As of March 9, 2006, Occidental beneficially owned 30,307,860 shares of Lyondell’s Common Stock, and warrants to purchase five million shares of Lyondell’s Common Stock, representing in the aggregate approximately 14.0% of Lyondell’s outstanding Common Stock. See “Principal Shareholders” above for a description of Occidental’s beneficial ownership. In addition, as a result of the August 2002 transactions described above, two Occidental executives, Dr. Ray R. Irani, Chairman, President and Chief Executive Officer, and Stephen I. Chazen, Senior Executive Vice President and Chief Financial Officer, have served as members of Lyondell’s Board of Directors since 2002. Mr. Chazen has been included in the slate of directors for election at the Annual Meeting. See “Election of Directors” above for a discussion of the agreement regarding their membership on the Board of Directors.

During 2005, Lyondell purchased sodium methylate and caustic soda from Occidental. Occidental charged Lyondell approximately $2 million for these purchases during 2005. In addition, pursuant to an ethylene sales agreement entered into on May 15, 1998, which was amended effective April 1, 2004, Occidental agreed to purchase a substantial amount of its ethylene raw material requirements from Lyondell. Either party has the option to “phase down” volumes over time. However, a “phase down” cannot begin until January 1, 2014 and the annual minimum requirements cannot decline to zero prior to December 31, 2018, unless certain specified force majeure events occur. In addition to the sales of ethylene, from time to time Lyondell has made sales of ethers and glycols to Occidental, and Lyondell has purchased various other products from Occidental, all at market-related prices. During 2005, Occidental paid Lyondell approximately $755 million for product purchases. Lyondell purchased various other products from Occidental at market-related prices totaling approximately $25 million during 2005.

Lyondell also subleases certain railcars from Occidental, for which Occidental charged Lyondell approximately $7 million in 2005. In addition, Lyondell’s Lake Charles, Louisiana ethylene and propylene facility is leased from Occidental pursuant to a lease that expires in May 2006. Under the lease, Lyondell pays Occidental rent in an amount equal to $100,000 per year if Lyondell is operating the Lake Charles facility or $60,000 per year if Lyondell is not operating the facility. If the Lake Charles lease terminates, Occidental will either (1) allow Lyondell to acquire, operate or receive the benefit of operating the Lake Charles facility, (2) pay Lyondell $75 million in cash or (3) transfer or pay to Lyondell 5.4 million shares of Lyondell Common Stock or the sale proceeds from 5.4 million shares of Lyondell Common Stock or a combination of both if the value is greater than $75 million. The parties are investigating alternatives related to the facility and the land. The Lake Charles facility has been idled since the first quarter of 2001, pending sustained improvement in market conditions.

3/23/2005 Proxy Information

Lyondell, Equistar, Millennium and LCR engage in numerous transactions. In addition, Mr. Smith’s son-in-law is employed as an engineer at one of Lyondell’s manufacturing facilities, and his compensation in 2004 was less than $100,000.

Lyondell, Equistar, Millennium and Occidental Petroleum Corporation (together with its subsidiaries and affiliates, collectively, “Occidental”) have engaged in numerous transactions. On November 30, 2004, Lyondell acquired Millennium, thereby also indirectly acquiring Millennium’s 29.5% interest in Equistar. As a result, Equistar and Millennium now are wholly owned subsidiaries of Lyondell. However, from May 1998 to August 2002, Occidental shared ownership of Equistar with Lyondell and Millennium until Lyondell purchased Occidental’s interest in Equistar in August 2002. As of March 10, 2005, Occidental beneficially owned 41,307,860 shares of Lyondell’s Common Stock, and warrants to purchase five million shares of Lyondell’s Common Stock, representing in the aggregate approximately 19% of Lyondell’s outstanding Common Stock. See “Principal Shareholders” above for a description of Occidental’s beneficial ownership. In addition, as a result of the August 2002 transactions described above, two Occidental executives, Dr. Ray R. Irani, Chairman, President and Chief Executive Officer, and Stephen I. Chazen, Senior Executive Vice President and Chief Financial Officer, serve as members of Lyondell’s Board of Directors.

Lyondell believes that the transactions between Lyondell, Equistar, Millennium and Occidental and its affiliates were obtained on terms substantially no more or less favorable than those that would have been agreed upon by third parties on an arm’s-length basis. Lyondell generally expects that commercial transactions of a nature similar to those described below will occur between Lyondell, Equistar and Millennium, and affiliates of Occidental during 2005.

During 2004, Lyondell purchased sodium methylate and caustic soda from Occidental. Occidental charged Lyondell approximately $827,000 for these purchases during 2004.

Equistar and Occidental entered into an ethylene sales agreement on May 15, 1998, which was amended effective April 1, 2004, under which Occidental agreed to purchase a substantial amount of its ethylene raw material requirements from Equistar. Either party has the option to “phase down” volumes over time. However, a “phase down” cannot begin until January 1, 2014 and the annual minimum requirements cannot decline to zero prior to December 31, 2018, unless certain specified force majeure events occur. In addition to the sales of ethylene, from time to time Equistar has made sales of ethers and glycols to Occidental, and Equistar has purchased various other products from Occidental, all at market-related prices. During 2004, Occidental paid Equistar approximately $634 million for product purchases. Equistar purchased various other products from Occidental at market-related prices totaling approximately $3 million and Millennium purchased approximately $5 million of sodium silicate from Occidental during 2004.

Equistar subleases certain railcars from Occidental, for which Occidental charged Equistar approximately $9 million in 2004. In addition, in May 2003, Equistar and Occidental entered into a new one-year lease of the Lake Charles facility, which has renewal provisions for two additional one-year periods at either party’s option. Equistar exercised its first one-year renewal option in April 2004. Under the lease, Equistar pays Occidental rent in an amount equal to $100,000 per year if Equistar is operating the Lake Charles facility or $60,000 per year if Equistar is not operating the facility. The Lake Charles facility has been idled since the first quarter of 2001, pending sustained improvement in market conditions.

3/16/2004 Proxy Information

Lyondell, Equistar and Occidental and its affiliates have engaged in numerous transactions. Until August 2002, Equistar was wholly owned by subsidiaries of each of Lyondell, Millennium Chemicals Inc. (“Millennium”) and Occidental. On August 22, 2002, Lyondell purchased Occidental’s 29.5% ownership interest in Equistar by purchasing all of the outstanding stock of the Occidental subsidiaries that were owners of Equistar. As a result, the Occidental subsidiaries no longer own an interest in Equistar and Lyondell’s ownership interest in Equistar increased from 41% to 70.5%. Millennium owns the remaining 29.5% interest in Equistar. As of March 1, 2004, Occidental beneficially owned 2,700,000 shares of Lyondell’s Original Common Stock, 36,823,421 shares of Lyondell’s Series B Common Stock and warrants to purchase five million shares of Lyondell’s Original Common Stock, representing in the aggregate approximately 25% of Lyondell’s outstanding Common Stock. See “Principal Shareholders” above for a description of Occidental’s beneficial ownership. In addition, as a result of the transactions described above, two Occidental executives, Dr. Ray R. Irani, Chairman and Chief Executive Officer, and Stephen I. Chazen, Executive Vice President—Corporate Development and Chief Financial Officer, serve as members of Lyondell’s Board of Directors. See “Election of Directors” above for biographical information regarding Dr. Irani and Mr. Chazen and a discussion of the agreement regarding their election to the Board of Directors.

Lyondell believes that the transactions between Lyondell, Equistar and Occidental and its affiliates were obtained on terms substantially no more or less favorable than those that would have been agreed upon by third parties on an arm’s-length basis. Lyondell generally expects that commercial transactions of a nature similar to those described below under the heading “Commercial Transactions with Affiliates of Occidental” will occur between Lyondell and affiliates of Occidental and between Equistar and affiliates of Occidental during 2004.

October 2003 Stock Purchase by Occidental Chemical Holding Corporation

In October 2003, Lyondell issued 13.8 million shares of its Original Common Stock in a public offering. Occidental Chemical Holding Corporation, a subsidiary of Occidental, purchased 2.7 million shares of the 13.8 million shares of Original Common Stock sold in the offering directly from the underwriter at a price equal to the initial public offering price, less underwriting discounts and commissions. The underwriter received no discounts or commissions on the sale of the shares to Occidental Chemical Holding Corporation.

Commercial Transactions with Affiliates of Occidental

During 2003, Lyondell purchased sodium methylate and caustic soda from Occidental Chemical Corporation, a subsidiary of Occidental (“Occidental Chemical”). Occidental Chemical charged Lyondell approximately $900,000 for these purchases during 2003.

Equistar and Occidental Chemical are parties to an ethylene sales agreement pursuant to which Occidental Chemical agreed to purchase an amount of ethylene from Equistar equal to 100% of the ethylene raw material requirements of Occidental Chemical’s U.S. plants, other than its LaPorte, Texas plant. In addition to sales of ethylene under the ethylene sales agreement, from time to time Equistar has made sales of methanol, ethers and glycols to Occidental Chemical. During 2003, Occidental Chemical paid Equistar approximately $448 million for product purchases.

Also, from time to time, Equistar has entered into over-the-counter derivatives, primarily price swap contracts, related to crude oil with Occidental Energy Marketing, Inc., a subsidiary of Occidental Chemical, to help manage its exposure to commodity price risk with respect to crude oil-related raw material purchases. During 2003, Equistar and Occidental Energy Marketing, Inc. settled approximately $300,000 of price swap contracts. There were no outstanding price swap contracts as of December 31, 2003. Equistar purchased various other products from Occidental Chemical at market-related prices totaling approximately $900,000 in 2003.

During 2003, Equistar sold ethylene to Oxy Vinyls, LP (“Oxy Vinyls”), a joint venture partnership between Occidental Chemical and an unaffiliated third party, for Oxy Vinyls’ LaPorte, Texas facility at market-related prices pursuant to an agreement that expired on December 31, 2003. Equistar made ethylene sales to Oxy Vinyls totaling approximately $55 million in 2003.

Equistar subleases certain railcars from Occidental Chemical, for which Occidental Chemical charged Equistar approximately $7 million in 2003. In addition, Equistar leased its Lake Charles facility and the land related thereto from Occidental Chemical for $100,000 per year under a lease that expired in May 2003. At that time, Equistar entered into a new, one-year lease with Occidental Chemical that has renewal provisions for two additional one-year periods at either party’s option. Under the new lease, Equistar pays Occidental Chemical rent in an amount equal to $100,000 per year if Equistar is operating the facility or $60,000 per year if Equistar is not operating the facility. The Lake Charles facility has been idled since the first quarter of 2001, pending sustained improvement in market conditions.

3/17/2003 Proxy Information

No related party transactions or special relationships reported for this company. Director relationships marked "Outside Related" at this firm will most often be former executives of the company. Additional information regarding these relationships will be added during our regular updates.