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EXHIBIT 99.1

Dow Releases Further Financial Information
Following Merger with Union Carbide

April16, 2001 (MIDLAND, Mich.)—The Dow Chemical Company today is releasing additional unaudited combined historical financial information following its recent merger with Union Carbide. This information includes selected unaudited historical information from 1995 to 2000.

    The company released audited supplemental consolidated financial statements last week in documents filed with the U.S. Securities and Exchange Commission.

    Dow is planning an investor meeting and Webcast to disclose additional information about the merger, which was completed February 6, 2001. The meeting will begin at 8 a.m. on May 1, 2001, and will be Webcast live on www.dow.com.

    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 approximately $30 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 50,000 employees seek to balance economic, environmental and social responsibilities. For further information, visit www.dow.com.

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Unaudited Combined Historical Income Statement Information

		For the year ended December 31,
In millions, except for per share amounts		2000		1999			1998		1997			1996		1995
Net Sales		$	29,534	$	25,859		$	25,101	$	27,476		$	27,067	$	26,965
	Cost of sales		24,131		20,300			19,395		20,750			19,866		18,592
	Research and development expenses		1,119		1,075			1,026		990			962		997
	Selling, general and administrative expenses		1,825		1,776			1,964		2,168			2,426		2,543
	Amortization of intangibles		139		160			106		80			58		52
	Purchased in-process research and development charges		6		6			349		—			—		—
	Special charges		—		94			458		—			—		—
	Insurance and finance company operations, pretax income		85		150			124		127			85		65
	Equity in earnings of nonconsolidated affiliates		354		95			31		211			194		269
	Sundry income—net		352		329			1,135		446			329		(69	)
Earnings before Interest, Income Taxes and Minority Interests			3,105		3,022			3,093		4,272			4,363		5,046
	Interest income		146		132			149		195			324		312
	Interest expense and amortization of debt discount		665		564			607		550			570		523
Income before Income Taxes and Minority Interests			2,586		2,590			2,635		3,917			4,117		4,835
	Provision for income taxes		839		874			902		1,320			1,423		1,822
	Minority interests' share in income		72		74			20		113			194		197
	Preferred stock dividends		—		5			6		13			17		17
Income from Continuing Operations		$	1,675	$	1,637		$	1,707	$	2,471		$	2,483	$	2,799
	Discontinued operations net of income taxes		—		—			—		—			—		187
	Cumulative effect of change in accounting principle		—		(20	)		—		(17	)		—		—
Net Income Available for Common Stockholders		$	1,675	$	1,617		$	1,707	$	2,454		$	2,483	$	2,986
Share Data
	Earnings per common share from continuing operations—basic	$	1.88	$	1.87		$	1.92	$	2.72		$	2.61	$	2.73
	Earnings before cumulative effect of change in accounting principle per common share—basic	$	1.88	$	1.87		$	1.92	$	2.72		$	2.61	$	2.91
	Earnings per common share—basic	$	1.88	$	1.85		$	1.92	$	2.71		$	2.61	$	2.91
	Earnings per common share from continuing operations—diluted	$	1.85	$	1.84		$	1.89	$	2.63		$	2.51	$	2.62
	Earnings before cumulative effect of change in accounting principle per common share—diluted	$	1.85	$	1.84		$	1.89	$	2.63		$	2.51	$	2.80
	Earnings per common share—diluted	$	1.85	$	1.82		$	1.89	$	2.61		$	2.51	$	2.80
	Weighted-average common shares outstanding—basic		893.2		874.9			888.1		898.4			950.1		1,025.8
	Weighted-average common shares outstanding—diluted		904.5		893.5			904.8		936.2			997.2		1,073.4
Selected Data Adjusted to Exclude Unusual Items
Earnings before Interest, Income Taxes and Minority Interests		$	3,125	$	3,072		$	3,090	$	4,177		$	4,363	$	5,266
Income from Continuing Operations			1,697		1,666			1,700		2,428			2,483		3,076
Earnings per common share from continuing operations—diluted			1.87		1.87			1.88		2.58			2.51		2.88

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Unaudited Combined Historical Income Statement Information

		Three months ended									Year ended
In millions, except for per share amounts		Mar. 31, 2000		June 30, 2000		Sept. 30, 2000		Dec. 31, 2000			Dec. 31, 2000
Net Sales		$	7,269	$	7,586	$	7,448	$	7,231		$	29,534
	Cost of sales		5,842		5,968		6,184		6,137			24,131
	Research and development expenses		270		277		273		299			1,119
	Selling, general and administrative expenses		474		431		449		471			1,825
	Amortization of intangibles		41		32		33		33			139
	Purchased in-process research and development charges		—		—		—		6			6
	Insurance and finance company operations, pretax income		29		14		26		16			85
	Equity in earnings of nonconsolidated affiliates		130		130		105		(11	)		354
	Sundry income—net		101		107		54		90			352
Earnings before Interest, Income Taxes and Minority Interests			902		1,129		694		380			3,105
	Interest income		45		29		26		46			146
	Interest expense and amortization of debt discount		155		169		170		171			665
Income before Income Taxes and Minority Interests			792		989		550		255			2,586
	Provision for income taxes		262		311		177		89			839
	Minority interests' share in income		18		21		16		17			72
Net Income Available for Common Stockholders		$	512	$	657	$	357	$	149		$	1,675
Share Data
	Earnings per common share—basic	$	0.58	$	0.73	$	0.40	$	0.17		$	1.88
	Earnings per common share—diluted	$	0.57	$	0.72	$	0.40	$	0.16		$	1.85
	Weighted-average common shares outstanding—basic		889.6		894.5		896.1		895.7			893.2
	Weighted-average common shares outstanding—diluted		903.8		906.1		902.3		904.3			904.5
Selected Data Adjusted to Exclude Unusual Items
Earnings before Interest, Income Taxes and Minority Interests		$	902	$	1,129	$	694	$	400		$	3,125
Net Income Available for Common Stockholders			512		657		357		171			1,697
Earnings per common share—diluted			0.57		0.72		0.40		0.18			1.87

7

Selected Unaudited Combined Historical Segment Information

		For the year ended December 31,
In millions		2000			1999			1998			1997			1996			1995
Operating segment sales
	Performance Plastics	$	7,667		$	7,031		$	6,900		$	7,201		$	7,163		$	6,668
	Performance Chemicals		5,343			5,044			4,944			4,887			4,783			4,596
	Agricultural Products		2,346			2,334			2,408			2,175			1,974			1,963
	Plastics		7,118			5,764			4,928			5,610			5,302			4,965
	Chemicals		4,109			3,603			3,646			4,394			4,290			4,563
	Hydrocarbons & Energy		2,626			1,731			1,499			2,184			2,464			2,371
	Unallocated and Other		325			352			776			1,025			1,091			1,839
	Total	$	29,534		$	25,859		$	25,101		$	27,476		$	27,067		$	26,965
Operating segment EBIT
	Performance Plastics	$	1,029		$	1,578		$	1,819		$	1,679		$	1,864		$	1,576
	Performance Chemicals		536			805			744			763			811			790
	Agricultural Products		212			125			(209	)		213			304			318
	Plastics		945			564			525			968			884			1,672
	Chemicals		422			292			76			641			574			1,360
	Hydrocarbons & Energy		136			8			(11	)		220			163			(44	)
	Unallocated and Other		(175	)		(350	)		149			(212	)		(237	)		(626	)
	Total	$	3,105		$	3,022		$	3,093		$	4,272		$	4,363		$	5,046
Operating segment EBIT excluding unusual items
	Performance Plastics	$	1,066		$	1,528		$	1,689		$	1,679		$	1,864		$	1,576
	Performance Chemicals		536			811			756			763			811			790
	Agricultural Products		212			219			154			233			304			318
	Plastics		945			564			560			980			884			1,672
	Chemicals		422			292			244			641			574			1,360
	Hydrocarbons & Energy		38			8			—			41			163			(44	)
	Unallocated and Other		(94	)		(350	)		(313	)		(160	)		(237	)		(406	)
	Total	$	3,125		$	3,072		$	3,090		$	4,177		$	4,363		$	5,266

8

Selected Unaudited Combined Historical Segment Information

		Three months ended											Year ended
In millions		Mar. 31, 2000			June 30, 2000		Sept. 30, 2000			Dec. 31, 2000			Dec. 31, 2000
Operating segment sales
	Performance Plastics	$	1,827		$	1,941	$	1,957		$	1,942		$	7,667
	Performance Chemicals		1,338			1,373		1,337			1,295			5,343
	Agricultural Products		633			694		449			570			2,346
	Plastics		1,779			1,761		1,863			1,715			7,118
	Chemicals		1,038			1,079		1,021			971			4,109
	Hydrocarbons & Energy		571			638		721			696			2,626
	Unallocated and Other		83			100		100			42			325
	Total	$	7,269		$	7,586	$	7,448		$	7,231		$	29,534
Operating segment EBIT
	Performance Plastics	$	316		$	274	$	235		$	204		$	1,029
	Performance Chemicals		152			182		125			77			536
	Agricultural Products		90			158		(23	)		(13	)		212
	Plastics		260			321		247			117			945
	Chemicals		143			180		86			13			422
	Hydrocarbons & Energy		18			2		4			112			136
	Unallocated and Other		(77	)		12		20			(130	)		(175	)
	Total	$	902		$	1,129	$	694		$	380		$	3,105
Operating segment EBIT excluding unusual items
	Performance Plastics	$	316		$	274	$	235		$	241		$	1,066
	Performance Chemicals		152			182		125			77			536
	Agricultural Products		90			158		(23	)		(13	)		212
	Plastics		260			321		247			117			945
	Chemicals		143			180		86			13			422
	Hydrocarbons & Energy		18			2		4			14			38
	Unallocated and Other		(77	)		12		20			(49	)		(94	)
	Total	$	902		$	1,129	$	694		$	400		$	3,125

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