On June 15, 2012, Lyondell Chemical Company (LCC) redeemed all of its outstanding 8% Senior Secured Notes due 2017. Immediately before the redemption, $10,454,000 aggregate principal amount of dollar-denominated 8% Notes were outstanding and 1,384,290 aggregate principal amount of euro-denominated 8% Notes were outstanding. Also on June 15, 2012, LCC redeemed all of its outstanding 11% Senior Secured Notes due 2018 (the 11% Notes). Immediately before the redemption, $57,858,737 aggregate principal amount of 11% Notes was outstanding. The redemption price for the 8% Notes and 11% Notes was 100% of the aggregate principal amount redeemed plus the applicable premium as provided for in the respective indentures. As a result of these redemptions, no 8% Notes or 11% Notes remain outstanding and therefore, all of the guarantees of the Company's outstanding 6% Senior Notes due 2021, 5% Senior Notes due 2019 and 5.75% Senior Notes due 2024 by the Company's subsidiaries have been automatically released as of June 15, 2012.

LyondellBasell Industries N.V. announced the final results of the previously announced cash tender offers by its wholly-owned subsidiary Lyondell Chemical Company for any and all of Lyondell Chemical's outstanding 8% Senior Secured Dollar Notes due 2017 and outstanding 8% Senior Secured Euro Notes due 2017 and any and all of Lyondell Chemical's outstanding 11% Senior Secured Notes due 2018. As of the prior consent payment expiration deadline of 5:00 p.m., New York City time, on April 6, 2012, 606,177,000 in aggregate principal amount, or approximately 97.95%, of the Dollar Notes outstanding had been validly tendered and not withdrawn, euro 101,323,710 in aggregate principal amount, or approximately 97.50%, of the Euro Notes outstanding had been validly tendered and not withdrawn and $1,863,374,256 in aggregate principal amount, or approximately 96.97%, of the 11% Notes outstanding had been validly tendered and not withdrawn. Between the Consent Payment Expiration and the Expiration Time, an additional $2,254,000 in aggregate principal amount of the Dollar Notes were validly tendered, an additional EUR 1,215,000 in aggregate principal amount of the Euro Notes were validly tendered and an additional $320,000 in aggregate principal amount of the 11% Notes were validly tendered. Accordingly, as of the Expiration Time, $608,431,000 in aggregate principal amount, or approximately 98.31%, of the Dollar Notes outstanding has been validly tendered and not withdrawn, EUR 102,538,710 in aggregate principal amount, or approximately 98.67%, of the Euro Notes outstanding has been validly tendered and not withdrawn and $1,863,694,256 in aggregate principal amount, or approximately 96.99%, of the 11% Notes outstanding has been validly tendered and not withdrawn. The Final Settlement Date for the Tender Offers is expected to occur on April 23, 2012, except that in the case of the Euro Notes, the Final Settlement Date is expected to occur on April 24, 2012.

LyondellBasell Industries N.V. announced that holders of more than a majority of the outstanding principal amount of Lyondell Chemical Company's 8% Senior Secured Dollar Notes due 2017 and 8% Senior Secured Euro Notes due 2017 and holders of more than a majority of the outstanding principal amount of Lyondell Chemical's 11% Senior Secured Notes due 2018 have provided consents to adopt the proposed amendments described in Lyondell Chemical's Offer to Purchase and Consent Solicitation Statement dated March 26, 2012. As a result, Lyondell Chemical and the trustees under the indentures have executed supplemental indentures to amend the indentures governing the Notes to eliminate substantially all of the covenants in the indentures governing such Notes, which will not become operative until Lyondell Chemical consummates its previously announced cash tender offers described in the Statement. Withdrawal and revocation rights have expired with respect to the tender offers and the consent solicitations pursuant to the statement. Holders who have not tendered their Notes may still do so pursuant to the Statement, until 11:59 p.m., New York City time, on April 20, 2012, unless the Offer is extended or earlier terminated by Lyondell Chemical. However, holders who tender their Notes and deliver their consents after the previously announced consent payment expiration deadline of 5:00 p.m., New York City time, on April 6, 2012 will not be entitled to receive the previously announced consent payment of $30.00 per $1,000 (or €30.00 per €1,000 in the case of the Euro Notes) principal amount of Notes.