UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)
LYONDELL PETROCHEMICAL CO.
(Name of Issuer)
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Common Stock
(Title of Class of Securities)
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552078107
(CUSIP Number)
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Check the following box if a fee is being paid with this
statement / /. (A fee is not required only if the filing
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7).
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
<PAGE>
Cusip 552078107 Page 2 of 7
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1
NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Brinson Partners, Inc.
36-3664388
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
a / /
b / /
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3
SEC USE ONLY
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4
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware corporation
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
- -----------------------------------------------------------
5
SOLE VOTING POWER
- -0-
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6
SHARED VOTING POWER
8,219,999 shares
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7
SOLE DISPOSITIVE POWER
- -0-
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8
SHARED DISPOSITIVE POWER
8,219,999 shares
- -----------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,219,999 shares
- -----------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.4%
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12
TYPE OF REPORTING PERSON*
IA CO
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* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Cusip 552078107 Page 3 of 7
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1
NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
UBS(USA) Inc.
13-3506524
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
a / /
b / /
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3
SEC USE ONLY
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4
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware corporation
- -----------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
- -----------------------------------------------------------
5
SOLE VOTING POWER
- -0-
- -----------------------------------------------------------
6
SHARED VOTING POWER
8,225,697 shares
- -----------------------------------------------------------
7
SOLE DISPOSITIVE POWER
- -0-
- -----------------------------------------------------------
8
SHARED DISPOSITIVE POWER
8,225,697 shares
- -----------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,225,697 shares
- -----------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
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12
TYPE OF REPORTING PERSON*
HC CO
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* SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
Cusip 552078107 Page 4 of 7
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1
NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
UBS AG
98-0186363
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
a / /
b / /
- -----------------------------------------------------------
3
SEC USE ONLY
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4
CITIZENSHIP OR PLACE OF ORGANIZATION
Swiss banking corporation
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
- -----------------------------------------------------------
5
SOLE VOTING POWER
- -0-
- -----------------------------------------------------------
6
SHARED VOTING POWER
8,225,697 shares
- -----------------------------------------------------------
7
SOLE DISPOSITIVE POWER
- -0-
- -----------------------------------------------------------
8
SHARED DISPOSITIVE POWER
8,225,697 shares
- -----------------------------------------------------------
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,225,697 shares
- -----------------------------------------------------------
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.5%
- -----------------------------------------------------------
12
TYPE OF REPORTING PERSON*
HC CO
* SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
Cusip 552078107 Page 5 of 7
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Item 1(a) Name of Issuer:
LYONDELL PETROCHEMICAL CO. (the "Company")
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Item 1(b) Address of Issuer's Principal Executive Offices:
1221 McKinney Street
Suite 1600
Houston, Texas 77010
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Item 2(a) Name of Person Filing:
Brinson Partners, Inc.("BPI"), UBS (USA) Inc. ("UBS") and UGS
AG("UBSAG").
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Item 2(b) Address of Principal Business:
BPI's principal business office is located at:
209 South LaSalle, Chicago, Illinois 60604-1295
UBS's principal business office is located at:
677 Washington Boulevard, Stamford, CT 06912
UBSAG'sprincipal business office is located at:
45 Bahnhofstrasse
Zurich, Switzerland
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Item 2(c) Citizenship:
Incorporated by reference to Item 4 of the cover pages.
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Item 2(d) Title of Class of Securities:
Common Stock (the "Common Stock")
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Item 2(e) CUSIP Number:
552078107
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Item 3 Type of Person Filing:
BPI is an Investment Adviser registered under section 203 of
the Investment Advisers Act of 1940. Each of UBS and UBSAG is
a Parent Holding Company in accordance with section 240.13d-
1(b)(1)(ii)(G).
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Item 4 Ownership:
Incorporated by reference to Items 5-11 of the cover pages.
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Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
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Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
Accounts managed on a discretionary basis by BPI have the
right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the Common
Stock. No account holds more than 5 percent of the
outstanding Common Stock.
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Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent
Holding Company:
See item 3 above
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<PAGE>
Cusip 552078107 Page 6 of 7
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Item 8 Identification and Classification of Member of the
Group:
Not Applicable
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Item 9 Notice of Dissolution of Group:
Not Applicable
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Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: July 10, 1998
Brinson Partners, Inc.
By:/s/ Mark F. Kemper By:/s/ Samuel W. Anderson
Mark F. Kemper Samuel W. Anderson
Assistant Secretary Vice President and Secretary
UBS (USA) Inc.
By: /s/ Louis R. Eber By:/s/ Robert B. Mills
Louis R. Eber Managing Director
Executive Director
UBS AG
By: /s/ Louis R. Eber By:/s/ Robert B. Mills
Louis R. Eber Managing Director
Executive Director
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<PAGE>
Cusip 552078107 Page 7 of 7
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INDEX TO EXHIBITS
EXHIBIT 1 - AGREEMENT TO MAKE A JOINT FILING
EXHIBIT 2 - DELEGATION OF AUTHORITY
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EXHIBIT 1
AGREEMENT TO MAKE A JOINT FILING
Brinson Partners, Inc., UBS (USA), Inc., and UBS AG each
agrees that this Schedule 13G (including all amendments
thereto) is filed by and on behalf of each such party.
Date: July 10, 1998
Brinson Partners, Inc.
By:/s/ Mark F. Kemper By:/s/ Samuel W. Anderson
Mark F. Kemper Samuel W. Anderson
Assistant Secretary Vice President and Secretary
UBS (USA) Inc.
By: /s/ Louis R. Eber By:/s/ Robert B. Mills
Louis R. Eber Managing Director
Executive Director
UBS AG
By: /s/ Louis R. Eber By:/s/ Robert B. Mills
Louis R. Eber Managing Director
Executive Director
