Dow Announces Price Increase for Diphenyl Oxide (DPO) and DOWTHERM(TM) Heat Transfer Fluids

MIDLAND, Mich. - Effective May 1, 2003, or as contracts allow, The Dow Chemical Company will increase Diphenyl Oxide (DPO) and DOWTHERM(TM) HTTF list and off-list prices for the United States only. The price increase varies by product and will range from 5% to 14%. The increase applies to distributor and direct accounts for the following products:

DOWTHERM(TM) A
DOWTHERM G
DOWTHERM HT
DOWTHERM J
DOWTHERM Q
DOWTHERM RP
DOWTHERM T
DOWTHERM MX
DPO

"We understand how important price stability is to our heat transfer fluid customers," said Caio Sedeno, marketing manager for Dow's Performance Fluids business. "Unfortunately, the unprecedented rise in the cost of feedstock and raw materials has exceeded our ability to control or absorb the cost increase at this time."

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $28 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including 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 approximately 50,000 employees seek to balance economic, environmental and social responsibilities.

For additional information on Dow Heat Transfer Fluids, contact the Dow Customer Information Group at 1-800-447-4369 (U.S. and Canada) or 1-989-832-1560 (from other global regions.) Additional information can be found on the Dow website at http://www.dow.com/heattrans.