Joint ventures play an important part in Dow's strategy. Dow formed its first joint venture more than 60 years ago. Today, joint ventures make up a significant part of Dow's earnings.

Joint ventures can provide Dow with access to capital, geographic markets, synergy opportunities, risk sharing, technology and advantaged feedstocks.

Dow's principal joint ventures are:

Dow Corning Corporation
EQUATE Petrochemical Company K.S.C.
The Kuwait Olefins Company K.S.C.
Map Ta Phut Olefins Company Limited
MEGlobal
Sadara Chemical Company
The SCG-DOW Group
Univation Technologies, LLC

Subsidiaries

Dow also has a number of subsidiaries, including Dow AgroSciences LLC and Union Carbide Corporation.

For a comprehensive list of joint ventures and subsidiaries of The Dow Chemical Company, please see (Exhibit 21) the Company's most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

FORWARD-LOOKING INFORMATION

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements made by or on behalf of The Dow Chemical Company and its subsidiaries (the Company). The forward-looking statements contained in this web site involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices, and other factors as discussed in filings with the U.S. Securities and Exchange Commission (SEC). These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental, and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

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