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METHANEX ANNOUNCES FIRST QUARTER RESULTS AND NASDAQ LISTING

 METHANEX ANNOUNCES FIRST QUARTER RESULTS AND NASDAQ LISTING
 VANCOUVER, British Columbia, May 13 /PRNewswire/ -- Methanex Corp. (Toronto, Montreal: MX) recorded earnings of U.S. $0.6 million (U.S. $0.02 per share) for the three months ended March 31, 1992 compared to earnings of U.S. $3.1 million (U.S. $0.19 per share) for the same period in 1991. The company's 1991 earnings included U.S. $0.6 million (U.S. $0.03 per share) from discontinued operations. Total revenue amounted to U.S. $33.9 million in 1992, an increase of U.S. $16.4 million from 1991 revenues of U.S. $17.5 million. Earnings from operations in 1992 were U.S. $1.3 million compared to U.S. $4.8 million in 1991.
 Methanex recorded U.S. $39.9 million in revenues from its methanol segment (1991 U.S. $17.5 million) and generated U.S. $0.6 million in earnings from operations (1991 - U.S. $4.8 million). The impact of lower prevailing methanol prices in the first quarter of 1992 compared to 1991 was offset by higher sales volumes in 1992. The ammonia segment generated U.S. $4.0 million in revenues and U.S. $0.7 million in earnings from operations in 1992.
 These chemical operations recorded cash flow from operations of U.S. $3.0 million (U.S. $0.08 per share) for the three months ended March 31, 1992 compared to U.S. $2.6 million (U.S. $0.16 per share) for the same period in 1991.
 Methanex has its head office in Vancouver, and is currently listed on the Toronto Stock Exchange and the Montreal Exchange under the trading symbol ''MX''.
 Methanex also announces that subject to the completion of a qualifications review by NASDAQ its shares will be listed for quotations on the NASDAQ National Market effective May 19 under the trading symbol "MEOHF."
 -0- 5/13/92
 /CONTACT: Ron J. Russel, 604-684-7500, or Brooke N. Wade, 604-684-7500, both of Methanex/
 (MX.) CO: Methanex Corp. ST: British Columbia IN: SU:


AL -- LA041 -- 9955 05/13/92 18:23 EDT
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Publication:PR Newswire
Date:May 13, 1992
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