Haller Named Head of Strategic Development and New Ventures at Dow

Midland, MI - February 27, 2006, Heinz Haller has been appointed corporate vice president of Strategic Development and New Ventures for The Dow Chemical Company, it was announced today by Andrew N. Liveris, Dow’s president, chief executive officer and chairman-elect. He will assume his new role on June 1, 2006, succeeding Phillip H. Cook, who will retire effective October 1 after completing a number of corporate activities.

Reporting to Liveris, Haller will join the Office of the Chief Executive, responsible for spearheading the Company’s long-term strategic agenda, driving corporate development opportunities and providing specific counsel to Liveris in his role as Chairman of the Board. In addition to Strategic Development and New Ventures, Haller will also take executive responsibility for Dow Agricultural Sciences and the Company’s Licensing businesses worldwide.

Haller is currently managing director of Allianz Capital Partners, based in Munich, Germany, a position he has held since joining the company in March 2002. Before that, he spent two years as chief executive officer of Red Bull Sauber AG and Sauber Petronas Engineering AG, and five years as managing director of the chemical distribution company, Plüss-Staufer AG.

Prior to joining Plüss-Staufer in 1994, Haller had worked with Dow for almost 15 years, based in Europe. He joined the Company in 1980 as a sales representative in Horgen, Switzerland, and subsequently developed his career in a variety of marketing and commercial positions across a number of different Dow businesses. He will relocate from Munich to Midland, Michigan.

Commenting on the appointment, Liveris said: "Heinz brings with him a tremendous depth of knowledge of both the business and the investment arenas - providing a solid foundation for this role. His understanding of global markets and of different capital structures … his experience in the front lines of M&A as well as in management … his extraordinary energy, strategic skills and proven leadership abilities … these qualities combine to bring an important new external dimension to our leadership team.

“From every point of view this is a tremendously exciting appointment; I very much look forward to working with Heinz as we accelerate Dow’s strategy over the years ahead,” he said.

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.

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