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Methanex Announces Sale of US$200 Million of 10 Year Notes

June 13, 2002

VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that it has entered into an underwriting agreement with Goldman, Sachs & Co., CIBC World Markets and RBC Capital Markets for the issue and sale of 8.75% senior notes due August 15, 2012 in an aggregate principal amount of US$200,000,000. This transaction is expected to close on June 19, 2002.

Net proceeds will be used to repay in full the Company's 7.40% notes due August 15, 2002 upon their maturity and for general corporate purposes.

When available, a copy of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, U.S.A. Attention: Prospectus Department.

Methanex is the world's largest producer and marketer of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the Nasdaq National Market in the United States under the trading symbol "MEOH."



FOR FURTHER INFORMATION PLEASE CONTACT:

Methanex Corporation
Chris Cook
Manager, Investor Relations
(604) 661-2600 or 1-800-661-8851

or

Methanex Corporation
Brad Boyd
Corporate Controller and Director, Investor Relations
(604) 661-2600