Horgen, 3rd July 2007

Giovanni Mazzetti Secondment to Equipolymers Completed

The secondment of Giovanni Mazzetti to Equipolymers ended on June 30th. After a distinguished 34 year career to date, with notable contributions in recent times to the PET business, latterly Equipolymers, Giovanni returns to Dow. A recognition dinner was held in Ottana last week and was attended by Graham Fox - President & CEO, the BMT, site management and colleagues, plus several of the young engineers Giovanni has recruited and trained in recent times.

In opening the recognition evening, Graham Fox commented, "We have been fortunate to retain Giovanni's services in a consultancy role as Senior Manufacturing Advisor for the next 6 months until December 2007. He will see us through the successful commissioning phase of the Ottana CP400+ project and start up in late Sept/Oct. We had ample evidence of the practical and visionary contributions Giovanni has made to both Dow and Equipolymers at the BMT meeting and with the young talent assembled from Ottana site".

Mazzetti will continue to report to Fox during this period against defined objectives. Abdullah Al Swailem has recently joined the team to replace Giovanni as Manufacturing Director and manufacturing representative on the Business Management Team, as well as our senior secondee from our 50% JV owner, PIC of Kuwait. Abdullah is based in Horgen.

"The Business Management Team (comprising Martin Wright, Business Director/Chairman, Antonello Ciotti, Commercial Director, Alberto Bottoni, Chief Financial Officer and Abdulla Al Swailem, Manufacturing Director) is charged with developing and delivering against the business strategy and is heading for a 2006 to 2007 EBITDA turnaround of Euro 25 million. This is delivered by reducing cost/expense and raising commercial margin, in combination", Fox commented. "Costs down 12%, expenses down 34% and commercial margin up 25%. Giovanni has been a key part of this team success during this period to date. We wish to thank Giovanni for his outstanding contribution".

Best Regards,

Graham Fox
President and CEO
Equipolymers Global GmbH
CH-8810 Horgen, Switzerland