Dow Greater China

Liveris Named One of America's Best CEOs by Institutional Investor Magazine

Midland, MI - February 14, 2006

Andrew N. Liveris, president, chief executive officer (CEO) and chairman-elect of The Dow Chemical Company, has been voted one of "America's Best CEOs" in a survey conducted by Institutional Investor magazine. Liveris was selected as the top CEO in the "Chemicals - Commodity" sector.

More than 1,700 portfolio managers and analysts at nearly 475 leading financial institutions worldwide were asked by Institutional Investor to name the top-performing CEOs in 62 industry sectors. According to the magazine, keys to winning investor support include flexibility, experience, a willingness to take calculated risks, and the ability to inspire investor confidence in the company's long-term strategic direction - among other qualities.

In 2005, Dow achieved record sales and earnings, reduced net debt by more than $2.5 billion, and, for the third year in a row, recovered lost margin - despite high and volatile feedstock and energy costs. Liveris credits the strong performance to the company's "institutionalized financial discipline" and operational excellence, noting that these results "bear testimony to the quality of our people and the strength and consistency of our strategy."

Liveris has been a member of Dow's Board of Directors since February 2004 and was elected as chairman of the board effective April 1, 2006. His 30-year Dow career began in 1976 in Australia and has spanned manufacturing, sales, marketing, new business development and management. He has spent the bulk of his career in Asia, where he was general manager for operations in Thailand and then head of all Asia-Pacific operations.

Liveris was born in Darwin, Australia and later lived in Brisbane, where he attended the University of Queensland, graduating with a bachelor's degree (first-class honors) in Chemical Engineering. He recently was awarded an honorary doctorate in science by his alma mater and was named Alumnus of the Year for 2005. He is a Chartered Engineer and a Fellow of The Institute of Chemical Engineers.

Liveris serves on the Board of Directors of Citigroup, is an officer of the American Chemistry Council, and is a member of the following organizations: the American Australian Association, a non-profit group dedicated to education involving both bi-lateral and international issues; the Business Council; the Business Roundtable; the Detroit Economic Club; the G100, an association of leading CEOs; the International Business Council; the National Petroleum Council; the Société de Chimie Industrielle; the U.S.-China Business Council; and the World Business Council for Sustainable Development.

The results of the Institutional Investor survey appear in the magazine's January 2006 issue. This is the magazine's fourth annual ranking of CEOs.

Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.


For Editorial Information:

Terri F. McNeill
The Dow Chemical Company
(989) 636-0626