Equipolymers Announces Sale of Manufacturing Facility in Ottana, Italy
Ottana Energia and Indorama agree on joint purchase of asset

Dubai, United Arab Emirates - March 25, 2010 - Equipolymers announced today that it has signed a definitive agreement to sell its pure terephthalic acid (PTA) and polyethylene terephthalate resins (PET) production facilities at its manufacturing site in Ottana, Italy to a joint-venturebetween Ottana Energia and Indorama.  Ottana Energia, owned by Paolo Clivati, currently operates a 140 megawatt power and utilities plant on the Ottana manufacturing site. Indorama is a global chemical producer of PTA, PET and polyester fibers based regionally in Thailand, the Netherlands, Lithuania, and the USA.  Financial terms of the agreement were not disclosed.

“The decision to sell the Ottana assets was made to sustain the long-term value of the site while enabling our Equipolymers production facilities in Schkopau, Germany to focus on R&D and new technologies in markets that best serve our customers,” said Ramesh Ramachandran, president and CEO for Equipolymers.  “This move will allow us to maximize access to key raw materials and improve our cost structure over the longer term.”  Throughout this process both Dow and PIC have been committed to finding a solution that would ensure the future viability of the site and continued employment for the local residents

There are approximately 120 employees at the Ottana facility, located on the island of Sardinia, Italy.  The facility produces PTA as raw material, and PET a high quality plastic use extensively in the packaging and beverage industry.  Equipolymers will continue to run its manufacturing facility in Schkopau, Germany.

The sale is expected to close June 1, 2010.

About Equipolymers

Equipolymers is a 50-50 joint venture between The Dow Chemical Company and the Petroleum Industries Company (PIC) of Kuwait. Since its formation in 2004, Equipolymers has leveraged the unique strengths of its parent companies and defined itself as the preferred partner for brand owners and other key value chain players in the PET market. Equipolymers manufactures and markets polyethylene terephthalate resins (PET), and produces purified terephthalic acid (PTA). PET is a high quality plastic used in the packaging industry, in particular for the production of beverage, food and other liquid containers. PTA is a key raw material for the production of PET.  Equipolymers is headquartered in Dubai, United Arab Emirates, with world-class production facilities in Ottana, Italy, and Schkopau, Germany.

About The Dow Chemical Company

Dow combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world’s most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow’s diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2009, Dow had annual sales of $45 billion and employed approximately 52,000 people worldwide. The Company’s more than 5,000 products are manufactured at 214 sites in 37 countries across the globe. 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.

About Petrochemical Industries Company (PIC)

PIC is one of eight specialized subsidiaries of the state-owned Kuwait Petroleum Corporation (KPC). PIC represents the petrochemical arm of KPC and produces fertilizer and petrochemicals. PIC has invested in the modernization of its fertilizer complex in Kuwait and expects to reach one million ton per annum of granular urea production. PIC also runs a 100,000 tonne per annum polypropylene plant through an arrangement with EQUATE Petrochemical Company.

PIC is committed to carrying out its operations in accordance with best industry practice and to ensuring that its facilities comply with highest safety and environmental standards. For more information, visit http://www.pic.com.kw

For editorial information:
Enrica Rossi
Public Affairs
Milan, Italy
+39 02 4822 4420
erossi@dow.com

Nancy Fullerton
Business Communications
Dubai, United Arab Emirates
+971 4 292 391
nfullerton@dow.com