The 2009 Lyondell Entities CDS Protocol (the “Protocol”) relates to settlement issues concerning three entities in the LyondellBasell group, ("Lyondell"), that announced on January 6, 2009 in order to facilitate a restructuring of its debts, its US operations and one of its European holding companies, Basell Germany Holdings GmbH, have voluntarily filed to reorganize under Chapter 11 of the US Bankruptcy Code. The three entities are Lyondell Chemical Company, Equistar Chemicals, LP, and Millennium America Inc. The purpose of the Protocol is to offer market participants an efficient way to address the settlement issues relating to credit derivative transactions referencing Lyondell. The Protocol will offer institutions the ability to amend their documentation for various credit derivatives transactions in order to utilize an auction scheduled for February 3, 2009 to determine the final price for certain Lyondell bonds and loans. Markit Group Limited and Creditex Securities Corp. will administer the auction.

The 2009 Lyondell Entities CDS Protocol is open to ISDA members and non-members. The Protocol will be open between January 28 and January 30, 2009.