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Methanex Corporation: Notice of Cash Dividend

November 22, 2002

VANCOUVER, BRITISH COLUMBIA--Methanex Corporation announced today that its Board of Directors has declared a quarterly dividend of US$0.05 per share that will be payable on December 31, 2002 to holders of common shares of record on December 17, 2002.

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." Methanex can be visited online at www.methanex.com.



FOR FURTHER INFORMATION PLEASE CONTACT:

Methanex Corporation
Chris Cook
Manager, Investor Relations
(604) 661-2600

or

Methanex Corporation
Brad Boyd
Corporate Controller and Director, Investor Relations
(604) 661-2600 or Toll Free: 1-800-661-8851
Website: http://www.methanex.com