Dividend Declaration

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January 6, 2003 Via Facsimile CORRECTION OF PRIOR NOTICE* DECLARATION OF STOCK AND CASH DIVIDENDS At a meeting of the Board of Directors of The Dow Chemical (the "Company") held December 12, 2002, a quarterly dividend of thirty-three and one-half cents ($0.335) a share on the common stock of the Company (par value $2.50 per share) was declared payable on January 30, 2003*, to stockholders of record at the close of business on December 31, 2002. Please contact me with any questions. Thank you. Sincerely, Tina S. Van Dam smf * On the earlier notice disseminated on December 12, 2002, the dividend payable date mistakenly was typed as January 3, 2003. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/06/20030106BIT00360/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/06/20030106BIT00360/wkr0002.pdf