U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[_]  Check box if no longer  subject to Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).

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1.   Name and Address of Reporting Person*

   Vercollone                        David                 L.
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   (Last)                           (First)             (Middle)
   Millennium Chemicals Inc.
   200 International Circle, Suite 5000
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                                    (Street)

   Hunt Valley                        MD                 21030
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   (City)                           (State)              (Zip)


________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol


   Millennium Chemicals Inc.  (MCH)
________________________________________________________________________________
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)



________________________________________________________________________________
4.   Statement for Month/Year


   October 2001
________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Year)


________________________________________________________________________________
6.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [_]  Director                             [_]  10% Owner
     [X]  Officer (give title below)           [_]  Other (specify below)

   Senior Vice President - Commercial, Operational Execellence Businesses
________________________________________________________________________________
7.   Individual or Joint/Group Filing (Check applicable line)

     [X]  Form filed by one Reporting Person
     [_]  Form filed by more than one Reporting Person
________________________________________________________________________________



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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
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                                                                                                                6.
                                                                 4.                              5.             Owner-
                                                                 Securities Acquired (A) or      Amount of      ship
                                                    3.           Disposed of (D)                 Securities     Form:     7.
                                                    Transaction  (Instr. 3, 4 and 5)             Beneficially   Direct    Nature of
                                      2.            Code         ------------------------------- Owned at End   (D) or    Indirect
1.                                    Transaction   (Instr. 8)                   (A)             of Month       Indirect  Beneficial
Title of Security                     Date          ------------     Amount      or     Price    (Instr. 3      (I)       Ownership
(Instr. 3)                            (mm/dd/yy)     Code     V                  (D)             and 4)         (Instr.4) (Instr. 4)
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Common Stock $0.01 par value/share                            V                                  11,531         I         401(k)(1)
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Common Stock $0.01 par value/share                                                               10,737         D        restricted
                                                                                                                       stock (2)(2A)
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Common Stock $0.01 par value/share                                                               19,577         D         (2A)
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Common Stock $0.01 par value/share                            V                                   2,418         I         SSIP (3)
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*    If the Form is filed by more than one  Reporting  Person,  see  Instruction
     4(b)(v).

Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

                            (Print or Type Response)                      (Over)




FORM 4 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

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                                                                                                                    10.
                                                                                                          9.        Owner-
                                                                                                          Number    ship
                                                                                                          of        Form
                    2.                                                                                    Deriv-    of
                    Conver-                    5.                              7.                         ative     Deriv-   11.
                    sion                       Number of                       Title and Amount           Secur-    ative    Nature
                    or                         Derivative    6.                of Underlying     8.       ities     Secur-   of
                    Exer-             4.       Securities    Date              Securities        Price    Bene-     ity:     In-
                    cise     3.       Trans-   Acquired (A)  Exercisable and   (Instr. 3 and 4)  of       ficially  Direct   direct
                    Price    Trans-   action   or Disposed   Expiration Date   ----------------  Deriv-   Owned     (D) or   Bene-
1.                  of       action   Code     of(D)         (Month/Day/Year)            Amount  ative    at End    In-      ficial
Title of            Deriv-   Date     (Instr.  (Instr. 3,    ----------------            or      Secur-   of        direct   Owner-
Derivative          ative    (Month/  8)       4 and 5)      Date     Expira-            Number  ity      Month     (I)      ship
Security            Secur-   Day/     ------   ------------  Exer-    tion               of      (Instr.  (Instr.   (Instr.  (Instr.
(Instr. 3)          ity      Year)    Code V    (A)   (D)    cisable  Date     Title     Shares  5)       4)        4)       4)
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                                                                               Common
Option              $16.87   5/18/01  A         25,000 A     5/18/02  5/18/11  Stock     25,000  -        25,000    D        (4)
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Explanation of Responses:
1. Represents the value of the Reporting Person's Stock Fund Account in
   the Company's 401(k) plan as of October 31, 2001, expressed as share
   equivalents.  As of such date 95.18% of such fund was invested in Company
   Common Stock.

2. Represents shares of restricted stock granted to the Reporting Person on
   October 8, 1996 and October 23, 1997 under the Issuer's Long Term Stock
   Incentive Plan as follows:  (i) 1,772 shares which may vest over a five-year
   period, and (ii) 8,962 shares which may be earned for the five-year perform-
   ance period ending December 31, 2001 subject to the achievement of perform-
   ance goals, 50% of which may be distributed when earned and 50% of which may
   be distributed over a five-year period commencing on the date earned.

2A.On October 8, 2001, 2,987 shares of restricted stock vested under the
   Issuer's Long Term Stock Incentive Plan.

3. Represents amounts allocated to, and the total holdings in, the Reporting
   Person's Company Stock Fund Account in the Company's Supplemental Savings
   and Investment Plan as of October 31, 2001, expressed as share equivalents.
   Because the trustee and record keeper for this plan utilize unit accounting
   for the Company Stock Fund rather than share accounting, these amounts
   represent share equivalents allocated to the Reporting Person's account
   rather than shares of Common Stock.

4. Represents an option granted to the Reporting Person on May 18, 2001 under
   the Issuer's Long Term Stock Incentive Plan to purchase 25,000 shares
   of the Issuer's Common Stock at $16.87 per share.





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      **Signature of Reporting Person                             Date


**     Intentional misstatements or omissions of facts constitute Federal
       Criminal Violations.

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, see Instruction 6 for procedure.


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