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Methanex Amends Shelf Prospectus for Future Debt Offerings

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/07/12 -- Methanex Corporation (TSX:MX)(NASDAQ:MEOH)(SANTIAGO:Methanex) announced today that it has filed an amendment to its short form base shelf prospectus dated November 10, 2011 (the "Shelf Prospectus") with the securities regulatory authority in the Province of British Columbia. The amendment to the Shelf Prospectus was also filed with the U.S. Securities and Exchange Commission ("SEC") as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. The amendment increases the aggregate amount of debt securities ("Offered Debt Securities") that may be offered under the Shelf Prospectus from US$500,000,000 to US$750,000,000. As of the date of this amendment, Methanex has distributed Offered Debt Securities under the Shelf Prospectus having an aggregate principal amount of US$250,000,000.

The securities may be offered in the United States from time to time at the discretion of Methanex over a 25-month period ending December 10, 2013. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used for any one or more of capital expenditures, debt repayment, working capital or other general corporate purposes.

The shelf registration statement filed today with the SEC relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective and the final short-form shelf prospectus is filed. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX"; on the NASDAQ Global Market in the United States under the trading symbol "MEOH"; and on the Foreign Securities Market of the Santiago Stock Exchange in Chile under the trading symbol "Methanex".

Contacts:
Jason Chesko
Director, Investor Relations
Methanex Corporation
604 661 2600 or Toll Free: 1 800 661 8851
www.methanex.com

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