Dow Upbeat on Future Growth in China

Shanghai - August 31, 2005

The Dow Chemical Company (Dow) today highlighted its positive outlook for China and said that further strengthening Dow's position in China is one of the Company's most immediate priorities.

Andrew Liveris, President and CEO of Dow, made the statement to reporters after he and his leadership team completed a two-day strategy meeting in Shanghai in which they reviewed, among other things, future growth opportunities in the Greater China region.

Liveris also announced that Dow has become the first foreign invested enterprise (FIE) located in a free trade zone (FTZ) to receive an official approval to extend its trading and distribution rights in China, enabling the company to import products and sell them directly to domestic customers.

Additionally, Liveris disclosed the location of a new Dow Center that will be built at the Zhangjiang Hi-Tech Park in Shanghai. The center will be comprised of a state-of-the-art R&D center and a global information technology (IT) center, as well as other support and service facilities. The new Dow Center will occupy more than 65,000 square meters and will have created 600 new jobs after it is completed in 2007.

"These are truly exciting developments for us -- giving us greater flexibility in meeting customers' needs and positioning us for long-term growth. Dow is committed to China, and we'll continue to explore investment opportunities here," said Liveris.

Greater China is a key component of Dow's global business strategy. With 10 manufacturing sites and five business centers, Dow's operations in Greater China turned over US$2.2 billion in sales revenues last year, an increase of nearly 40% from 2003. On Dow's growth prospects in China, Liveris cited rapid industrialization, a high level of direct foreign investment, a competitive cost environment, improvements in infrastructure and a growing per capita income.

He added, "The key is not only that China is adding to global production - that's clearly been happening for some time - but that China is adding to global demand by growing wealthier and consuming more. In other words, China's growing wealth benefits not just China, but the entire global economy."

About Dow
Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $40 billion, Dow serves customers in 175 countries and a wide range of markets that are vital to human progress: food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its 43,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.

For Editorial Information:

Kay Yau
Dow Greater China
(852) 2879-7316

Josephine Pan
Burson-Marsteller Shanghai Office
(21) 5403-2121 ext. 175

Helen He
Burson-Marsteller Beijing Office
(10) 6505-6363 ext. 271


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