Robert E. Lee Named Head of Millennium Inorganic Chemicals; Donald V. Borst Retires

Robert E. Lee Named Head of Millennium Inorganic Chemicals; Donald V. Borst Retires

Millennium Chemicals Inc. (NYSE: MCH) announced today that Robert E. Lee has been named President and Chief Executive Officer of its Millennium Inorganic Chemicals subsidiary. He replaces Donald V. Borst, who is retiring. Mr. Lee has been President and Chief Operating Officer of Millennium Chemicals, and will continue as a director of Millennium Chemicals Inc. and Vice Chairman of its Operations Committee.

Mr. Landuyt said, "Don Borst has been a major industry figure in the global titanium dioxide business and his contributions to Millennium Inorganic Chemicals have been invaluable. Millennium Inorganic Chemicals, which now has some of the most modern and productive titanium dioxide facilities in the world, presents exciting opportunities in the Millennium Chemicals portfolio. I am confident that Bob Lee, who has led our Abest "practices" efforts, will bring his considerable business talents and strategic vision to help turn these opportunities into value as we move into the new millennium."

Mr. Lee, 40, joined Hanson Industries, the U.S. arm of Hanson PLC, in 1982 and was promoted to Treasurer in 1987. He was named Vice President and Treasurer in 1990 and assumed the positions of Vice President and Chief Financial Officer in 1992. In 1995, he was appointed Senior Vice President and Chief Operating Officer of Hanson Industries, and became President and Chief Operating Officer of Millennium Chemicals when it was demerged from Hanson in October 1996. Mr. Lee's position and its responsibilities will be added to the duties of William M. Landuyt, who is Chairman and Chief Executive Officer of Millennium Chemicals.

Mr. Landuyt also said, "We are fortunate that Don Borst will continue to be involved with the company as a consultant." Mr. Borst, 61, has been President and Chief Executive of Millennium Inorganic Chemicals, formerly SCM Chemicals, since 1986, when its parent company was acquired by Hanson PLC. He joined SCM Chemicals in 1984 as Vice President.

Titanium dioxide is a white pigment used to impart whiteness, brightness and opacity to a wide range of products, including paints and coatings, paper and plastics.

Millennium Inorganic Chemicals, headquartered near Baltimore, Md., is the second-largest producer of titanium dioxide (TiO2) in the United States and the third-largest in the world. It has plants in Baltimore, Maryland and Ashtabula, Ohio; Stallingborough, England; and Bunbury, Australia. Millennium Inorganic Chemicals is also the largest merchant seller of titanium tetrachloride in the United States and the world's second-largest producer of cadmium-based pigments. The company also produces amorphous fine-particle silica gel.

Millennium Chemicals Inc. is a major international chemical company, with leading market positions in a broad range of commodity, industrial, performance and specialty chemicals. Millennium Chemicals was formed as a result of a spin-off from Hanson PLC, a U.K. public company, on October 1, 1996.

Millennium Chemicals Inc. also includes:

• the largest producer of polyethylene products in the United States;
• the second-largest producer of acetic acid and vinyl acetate monomer in the United States;
• a leading producer of high value-added performance polymers, color concentrates and polymeric powders; and
• a leading producer of fragrance and flavor chemicals.