Dow Technology Licensing Wins UNIPOL™ PP Technology Contract in China

Shenhua Baotou Coal Chemicals to Build 300KTA Polypropylene Plant

Midland, MI - June 06, 2007, Dow Technology Licensing (DTL), a business unit of The Dow Chemical Company and its consolidated affiliates (Dow), today announced that Shenhua Baotou Coal Chemicals Company, a leader among Chinese manufacturers pioneering the coal-based production of chemicals and plastics, has selected UNIPOL™ PP Technology from Dow for a new 300 KTA polypropylene (PP) facility. The plant will be constructed within the Shenhua Baotou Coal-to-Olefin complex in Inner Mongolia Autonomous Region, The People’s Republic of China, and is expected to come on line in 2010. Aker Kvaerner, an engineering and construction firm that has collaborated with DTL on numerous UNIPOL™ PP Technology lines around the world, will prepare the basic engineering design and provide technical advisory services.

Shenhua Baotou will be the 47th production line to utilize UNIPOL™ PP Technology, a gas-phase process for producing the broadest range of polypropylene resins. The system’s fluidized-bed reactors and high performance SHAC™ Catalyst systems give manufacturers the flexibility to produce homopolymers, random copolymers and impact copolymers for various grades of plastics. Recently chosen by China Datang Corporation for its 500 KTA plant and by PetroChina GuangXi for a new 200 KTA facility, the process and catalyst capabilities of UNIPOL™ PP Technology demonstrate versatility in meeting a wide variety of polypropylene producers’ needs.

“Our technology transfer expertise, dedicated support services and ongoing investment in the technology enable our customers to achieve performance and market objectives quickly and efficiently,” said Dr. Molly Peifang Zhang, vice president, Dow Technology Licensing. “We are confident that UNIPOL™ PP Technology will aid Shenhua Baotou in establishing a strong position in the global marketplace and we are very pleased to welcome them into our growing family of licensees in China.”

Including the Shenhua Baotou Project, UNIPOL™ PP Technology will be utilized to produce almost 10 million metric tons of polypropylene per year which will be over 16% of total global capacity.

About Dow

Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of 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 $49 billion and employs 43,000 people worldwide. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. Dow Technology Licensing is a business unit of Dow that markets technologies owned by The Dow Chemical Company, Union Carbide Corporation and their subsidiaries. More information about Dow Technology Licensing can be found at www.dow.com/licensing.

About Shenhua Group

Shenhua Group Corporation Limited is a wholly state-owned enterprise, incorporated in October 1995 approved by the State Council in accordance with the modern enterprise system. It is the sole large-scale energy company in China, with integrated businesses ranging from coal, power, railway, port to coal liquefaction. For over a decade since its establishment, it has adhered to a new road of industrialization and has achieved rapid and sustainable development. For the past five consecutive years, its contribution to the national economy ranks the top in the Chinese coal industry. On June 15, 2005, China Shenhua Energy Company Limited, majority-owned by Shenhua Group, was successfully listed on Hong Kong Stock Exchange, becoming the largest IPO among all listed coal companies globally. Shenhua currently has 29 wholly owned and majority-owned subsidiaries with 148,000 employees. By the year 2010, Shenhua’s coal production, installed capacity of the power plants, transportation capacity, port handling capacity, coal liquids & chemicals production will reach 300 million tons, 30,000 MW, 200 million tons, 140 million tons and 4 million tons respectively.

About AKER KVAERNER ASA

AKER KVAERNER ASA, through its subsidiaries and affiliates (“Aker Kvaerner”), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organized in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kvaerner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 23 000 people in about 30 countries. Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.1 per cent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

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