Cinergy Solutions Finds Direct Line to Savings; Union Carbide Corporat

    Business Editors

    SOUTH CHARLESTON, W. Va.--(BUSINESS WIRE)--March 29, 2005--The Dow Chemical Company's wholly owned subsidiary, Union Carbide Corporation has engaged Cinergy Solutions to design, build, own, operate and maintain a new steam generating plant to service the South Charleston Technology Park. The new plant will be capable of meeting all the steam and utility services needs for the park and is scheduled for completion in July 2005.
    Currently, the Technology Park covers 651 acres and houses 381 laboratories with more than 400 researchers and numerous technology related tenants. The new generation facility will be located on-site and will help fuel additional break-through advances in chemical production, manufacturing procedures and leading technologies. The existing steam facility is located at Union Carbide's South Charleston manufacturing site, which is approximately two miles from the Technology Park.
    "We are proud to partner with an institution that has a long-standing tradition of technological innovation," said Steve Harkness, president of Cinergy Solutions. "By using the combined generation of power and steam, we will increase their site efficiency and provide utility services in a cost effective manner."
    "Cinergy Solutions was able to find an innovative solution for our energy needs," stated Rob Chadwick, Maintenance Process Leader, West Virginia Operations. "The new facility will be state-of-the-art, offer cost-savings, and allow us to concentrate on our core competencies, which will further enhance our productivity and help improve our competitive position."
    "We look forward to a long-term relationship with both Dow Chemical and Union Carbide Corporation, working with them to deliver reliable and low-cost energy across their portfolio," concluded Harkness.

    About Cinergy Solutions

    Cinergy Solutions, an affiliate of Cinergy Corp. (NYSE:CIN), one of the largest diversified energy companies in the US, currently manages over 5,350 MWs of power generation and offers a complete range of energy solutions from on-site supply and energy conservation to renewable energy and maintenance of high-voltage electric and gas infrastructure. Cinergy Solutions' award-winning team of energy supply experts specializes in reducing energy costs, lowering emissions, conserving energy and improving efficiency for large energy consumers, municipalities and industrial facilities including Kodak, Procter & Gamble, General Motors and BP. Cinergy Solutions is dedicated to delivering excellence through innovative energy solutions from complete utilities outsourcing to custom design, construction, operation and maintenance of cogeneration and district energy facilities.

    About Dow

    Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $40 billion, Dow serves customers in 175 countries and a wide range of markets that are vital to human progress: 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 43,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. Union Carbide Corporation is a wholly owned subsidiary of The Dow Chemical Company.

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CONTACT: Cinergy Solutions Rob Foster, 513-513-241-2009 ext 210 rob.foster@lao-adv.com

KEYWORD: WEST VIRGINIA KENTUCKY INDIANA OHIO INDUSTRY KEYWORD: MANUFACTURING UTILITIES PRODUCT SOURCE: Cinergy Solutions

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