San Diego, California
November 5, 2002

The Dow Chemical Company (NYSE: DOW) and Plant Research International B.V. of Wageningen, The Netherlands, have agreed to join forces to speed development of therapeutic proteins with mammalian-like glycan structures in transgenic plants. Through their collaboration, the companies will
work to expand the utility of plant-based production for pharmaceutical proteins.

"Dow is delighted to be working with Plant Research International, an innovative leader in glycoprotein optimization in transgenic plants," said Kurt Hoeprich, Director of Market Development for Dow Plant-Based Biopharmaceuticals. "By optimizing glycoprotein production in plants, we can greatly expand the applicability of this new production platform in the rapidly growing biopharmaceutical marketplace."

According to industry research by a financial analyst from U.S. Bancorp Piper Jaffray, Inc., approximately 100 therapeutic proteins are now in mid- to late-stage clinical development. Potential manufacturing capacity shortages are leading pharmaceutical companies to consider plant-based production techniques.

Dirk Bosch, group leader at Plant Research International explains: "We are very pleased with this excellent match of Dow's proprietary expression technologies and biopharmaceutical protein processing expertise with Plant Research International's proven, integrated R&D capabilities for biosynthetic pathway engineering and protein analysis. This agreement will accelerate scientific developments at our institute and will place us in a position to help generate additional technological breakthroughs relevant to therapeutic protein production. Dow is a major player, with complementary skills and networks which support our ambition to use our expertise to benefit the pharmaceutical industry."

The agreement calls for Dow and Plant Research International to share their intellectual property estates in the field of glycosylated protein production in transgenic plants. Dow will lead commercialization of this exclusive technology for the therapeutic protein contract manufacturing market. Earlier this year, Dow secured patents on technology to enable glycan production in plants, which it will make available under this agreement. The agreement also involves a multi-year collaborative research program focused on further optimizing protein glycosylation in transgenic plant systems.

Dow also has agreements in place with Epicyte Pharmaceutical Inc., a biopharmaceutical company focused on the discovery and development of therapeutics to treat inflammatory and infectious diseases, and Centocor, Inc., to produce monoclonal antibodies in transgenic plants. According to Hoeprich, "This group of strategic agreements aligns key technology leaders toward fulfilling the promise of plant-based approaches to drug substance supply. Beyond overcoming the well-reported capacity limitations in the biopharmaceutical industry, a plant-based approach also holds the potential to lower capital and operating costs."

About Dow Plant-Based Biopharmaceuticals

Dow Plant-Based Biopharmaceuticals is a single-source development and manufacturing partner for production of complex therapeutic proteins using plant-based technology. Technologies and capabilities for every development and production step are available: plant transformation, scale up, crop growth and harvest, extraction of target protein, and purification of the bulk drug substance. Dow currently has a pipeline of client biopharmaceutical products in various stages of production, using plant transgenic technology in an effort to overcome capacity limitations with lower capital and operating costs, a faster route to production and simpler downstream processing.

About Plant Research International

Plant Research International is a research institute that combines top quality research with a market-oriented approach designed to meet the needs and requirements of tomorrow's research environment. Plant Research International was among the first to recognize the perspectives of the principle of using plants as a "factory" of special compounds as well as unique sources for enzymes that may contribute to manufacturing processes of valuable products. The institute invests in these concepts, implements required expertise and operates state of the art facilities for genomics, proteomics and metabolomics.
This has resulted in new technologies and innovative products with various applications. Through an agreement with Dow, Plant Research International enters the market of pharmaceutical R&D groups. For more information, visit www.plant.wageningen-ur.nl . 

About Wageningen UR

Wageningen UR, short for Wageningen University and Research Centre, is a unique alliance between a university and market-oriented research institutes. Wageningen UR combines fundamental and applied research with innovative education in the areas of food, agrotechnology, production systems, nature and the environment. About 6,000 professionals are committed to the translation of technological knowledge into study programs and practical applications. The research and education activities of Wageningen UR focus on ensuring reliable supplies of safe, high-quality food, non-food and health products while maintaining the biodiversity of natural habitats and conserving natural resources.

About Dow

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 $28 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 approximately 50,000 employees seek to balance economic, environmental, and social
responsibilities. For more information, visit www.dow.com .