Dow Declares Quarterly Dividend of 37.5 Cents per Share

Midland - September 14, 2006 - The Dow Chemical Company (NYSE: DOW), has declared a dividend of 37.5 cents per share, payable October 30, 2006, to shareholders of record on September 29, 2006.

This is the 380th consecutive cash dividend issued by Dow. Since 1912, Dow has paid its shareholders cash dividends every quarter and has either maintained or increased the quarterly dividend amount throughout that time.

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. More information about Dow can be found at www.dow.com.

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Chris Huntley

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The Dow Chemical Company

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