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Methanex Announces New CEO

May 13, 2004

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 13, 2004) - Methanex Corporation announced today that its Board of Directors has appointed Bruce Aitken, currently President and Chief Operating Officer, to President and Chief Executive Officer.

Pierre Choquette, who has led Methanex as Chief Executive Officer since 1994, is retiring from the Company but will continue to provide leadership in his role as Chairman of the Board of Directors.

Mr. Choquette commented, "It is with some sadness that I step away from the people and the day-to-day running of a Company that has been an integral part of my life for so long, but I have the utmost confidence in Bruce Aitken's leadership abilities and management expertise." Mr. Choquette added, "I have always felt privileged to lead the team at Methanex and I am now honoured to be able to continue my association with the Company as non-executive Chairman."

Mr. Aitken, who was appointed President and COO in September of 2003, has been with Methanex for the past decade. Prior to his September appointment, he was Senior Vice President, Asia Pacific and was based in New Zealand. In the early 90s, he served as Vice President, Corporate Development and was located in Vancouver. Prior to joining Methanex, Mr. Aitken was Executive Director of Cape Horn Methanol in Santiago, Chile (bought by Methanex in 1993). He also held a number of managerial positions with Fletcher Challenge Limited in New Zealand.

Mr. Choquette was appointed President and CEO of Methanex in 1994. During his 10 years at the helm, his commitment to operational excellence, low cost production and global market leadership was instrumental in turning the Company into the world's largest producer and marketer of methanol. He became interim Chairman of the Board of Directors in June of 2003 and was appointed Chairman of the Board & CEO in September of 2003.

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
Director, Investor Relations
(604) 661-2600 or Toll Free: 1-800-661-8851
Website: www.methanex.com