Westlake Chemical Declares Increased Quarterly Dividend of 4 Cents Per Share

HOUSTON, Aug. 21 /PRNewswire-FirstCall/ -- The board of directors of Westlake Chemical Corporation (NYSE: WLK) declared on Friday a dividend of 4 cents per share, payable on September 8, 2006, to stockholders of record on August 30, 2006. This represents an increase of 1.25 cents per share, or 45%, over the 2.75 cents per share that the company has previously paid.

This is the eighth successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.

The board of directors also appointed E. William (Bill) Barnett, who was chosen as a director in June 2006, to serve on the board's audit committee.

Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe, windows and fence. For more information, visit the company's Web site at http://www.westlakechemical.com .

Westlake Chemical Corporation

Media Relations - David R. Hansen
Investor Relations - Steve Bender
both of Westlake Chemical Corporation, +1-713-960-9111

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