Dow Declares Quarterly Dividend of 33.5 Cents per Share

Midland, MI - December 08, 2005, The Dow Chemical Company (NYSE: DOW), today declared a dividend of 33.5 cents per share, payable January 30, 2006, to shareholders of record on December 30, 2005.

This is the 377th 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 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.

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Chris Huntley

The Dow Chemical Company

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