---

Dow Automotive Closes Gurit-Essex AG Acquisition

10 January 2001

Dow Automotive Closes Gurit-Essex AG Acquisition

    AUBURN HILLS, Mich., and FREIENBACH, Switzerland, Jan. 10 The Dow Chemical Company , through its business unit, Dow
Automotive, announced today that it has completed its acquisition of the 50
percent interest in Gurit-Essex AG that it did not previously own.
    Gurit-Essex is the largest European supplier of automotive adhesives,
sealants and body engineered systems for the automotive OEM and aftermarket.
The acquisition doubles the company's adhesives, sealants and body engineered
systems business.
    Additionally, the acquisition allows Dow Automotive to offer its
innovative products, technologies and engineering capabilities to customers on
a global scale.
    "We are excited about this significant growth opportunity for Dow
Automotive," said Larry Denton, Dow Automotive president.  "We're pleased to
now be able to offer our global customers the combined resources, products and
personnel of the new organization."
    Gurit-Essex is headquartered in Freienbach, Switzerland.  Gurit-Essex has
nine sales and manufacturing offices in eight countries -- France, Germany,
Italy, Romania, South Africa, Spain, Switzerland and The United Kingdom.  The
company's operations will be integrated into Dow Automotive's global business.
Additional information regarding Gurit-Essex's products and services can be
found at http://www.gurit-essex.com .
    Dow Automotive, with offices and application development centers
worldwide, offers materials, parts, modules and systems for automotive
interior, exterior, chassis/powertrain and body engineered systems
applications.  In addition to the company's broad product portfolio, Dow
Automotive delivers research and development, design expertise, advanced
engineering and supply chain management support to customers around the world.
Additional information regarding Dow Automotive products and services can be
found at http://www.dowautomotive.com .