Frank Hanraets Named MEGlobal Vice President Commercial

Dubai, U.A.E. - June 24, 2008

Effective July 1, Frank Hanraets has been named MEGlobal vice president commercial, replacing Ben Poon who is returning to a position within The Dow Chemical Company (Dow). Hanraets will relocate to the company's headquarters in Dubai, United Arab Emirates.

In his new role, Hanraets, currently serving as MEGlobal's commercial and international trading director in Europe, will be responsible for the management of a commercial organization of more 40 people around the world in locations as diverse as the United States, China, Hong Kong, Kuwait and Switzerland.

"Frank Hanraets has proven himself to be an excellent asset to the MEGlobal team in Europe during the first four years of our company's development," said Henry Roth. "As MEGlobal continues to grow, Frank is highly placed to craft our commercial strategy to take us forward to the next level.

"We would also like to thank Ben Poon for his immense efforts in the creation of the MEGlobal commercial team. His personal and professional legacy will be long-remembered as a defining part of our company structure," Roth added.

Hanraets, a Dutch native, joined MEGlobal at the company's inception in 2004 after spending more than 20 years with Dow in Europe. During his Dow tenure, he held a wide variety of roles within the Hydrocarbons business, most recently as regional commercial manager for Ethylene Oxide/Ethylene Glycol (EO-EG) and marketing director of Mono-Ethylene Glycol (MEG) and global higher glycols. Prior to joining Dow, Hanraets served as an oil, barge and liquefied petroleum gas (LPG) trader. During his career, Hanraets has held roles in six countries including The Netherlands, South Africa, Germany, the United Kingdom, Belgium and Switzerland.

About MEGlobal
MEGlobalâ„¢ is a world leader in the manufacture and marketing of merchant monoethylene glycol and diethylene glycol, collectively known as ethylene glycol (EG). Headquartered in Dubai, United Arab Emirates, MEGlobal markets approximately 3.5 million metric tons of EG per year which is used as a raw material in the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products. With approximately 200 employees worldwide, MEGlobal operates production facilities in Fort Saskatchewan and Red Deer in Alberta, Canada. MEGlobal is a 50:50 joint venture between The Dow Chemical Company and Petrochemical Industries Company (PIC) of Kuwait. Further information can be found at www.meglobal.biz

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