Union Carbide Corp. (UCC), a wholly-owned subsidiary of The Dow Chemical Company (Dow), and West Virginia University signed an agreement today (Aug. 20) that will establish a research campus on 58 acres of donated property located at UCC s Technology Park in South Charleston.

The signing ceremony, held at the state Capitol, was attended by Gov. Joe Manchin who helped guide the donation and agreement.

Union Carbide successfully nurtured a world-class reputation at the Technology Park for research and development,Manchin said.West Virginia University, as a growing leader in the area of higher education research, is well poised to continue that initiative. This is a winning situation, not only for UCC and WVU , but for the state of West Virginia.

The agreement also includes the donation of several research and development laboratories to the University, including a 125,000 square foot building currently in use as a multi-tenant research and development incubator.

This donation on the part of Dow demonstrates our commitment to the importance of academic research and the ability for collaboration,said Allan Fowler, vice president of West Virginia Operations of Dow.We applaud WVU and the state of West Virginia for their partnership in the development and growth of this research campus.

The WVU Charleston Research Campus (WVUCRC), as it will be known, will serve as a center of research and economic development focusing on energy and chemical technology. Initially, WVU will relocate its Charleston extension and extended learning offices to the property. In the future, it expects to develop research and academic initiatives benefiting residents of the Charleston area.

We are most appreciative of the farsightedness and collaborative efforts of Union Carbide Corporation, its parent Dow Chemical Company, and the leadership team at WVU in structuring this gift to the University,said WVU President David C. Hardesty Jr.It has been a major effort, but all have worked together to make this day possible. We also recognize and appreciate Gov. Manchin’s help in making such a major donation possible. His leadership at critical times has made a meaningful difference.

Due to global market shifts impacting its businesses, Dow has been migrating and consolidating operations to other locations in the U.S. and the world. These changes have created available assets in the Kanawha Valley, Fowler said.

The initiative for the research campus was led by WVU beginning in early 2006 with the desire to expand its research capabilities and aid economic development in the Charleston area.

In recent years, the importance of economic development and economic diversification to our state has become increasingly evident,Hardesty said.Research is often associated with job growth and diversification. It is our hope that the creation of a research park by WVU in Charleston will draw jobs and dollars to the Greater Kanawha Valley and help to strengthen the overall economy of West Virginia.

WVU Provost Gerald Lang and Vice President for Research and Economic Development John Weete led the effort on behalf of the University, Hardesty noted. Closing of the donation transaction is expected to be complete by early fall.

About Dow

Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $49 billion and employs 43,000 people worldwide. 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 West Virginia University

West Virginia University, , is the flagship institution of higher education in the state. A public land grant institution, founded in 1867, the Universitys 15 colleges and schools offer 178 bachelors, masters, doctoral and professional degree programs. WVU is classified as aCarnegie Research University (High Research Activity), and as such, is one of the nations top research universities. Students come from all counties in West Virginia, 49 states, the District of Columbia, 3 territories, and 91 nations. Fall 2006 enrollment was 27,115, and there were approximately 4,500 degrees granted in the 2006-2007 academic year.