<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<html>

<head>
<title>SECURITIES AND EXCHANGE COMMISSION</title>
<meta content="Microsoft FrontPage 3.0" name="GENERATOR">
</head>

<body>
<font size="5"><b>

<p align="center">SECURITIES AND EXCHANGE COMMISSION</p>
</b></font><font size="2">

<p align="center">WASHINGTON, D.C. 20549</p>

<p align="center">____________________</p>
</font><font size="6"><b>

<p align="center">Form S-8</p>
</b></font><font size="2">

<p align="center">REGISTRATION STATEMENT <br>
under<br>
THE SECURITIES ACT OF 1933</p>

<p align="center">____________________</p>
</font><b><font size="5">

<p align="center">THE DOW CHEMICAL COMPANY<br>
(a Delaware corporation)<br>
</font><font size="2">Executive Offices -- 2030 Dow Center<br>
Midland, Michigan 48674</font><font size="5"></p>
</font></b><font size="3"><i>

<p align="center">(Name, state of incorporation and address of principal executive office
of issuer)</p>
</i></font><font size="2">

<p align="center">I.R.S. Employer Identification No. 38-1285128</p>

<p align="center">____________________</p>
<b>

<p align="center">THE DOW CHEMICAL COMPANY <br>
2002-2003 EMPLOYEES' STOCK PURCHASE PLAN<br>
<i>(Full title of the plan)</i><br>
</p>
</b>

<p align="center"><b>____________________</b></p>

<p align="center">J.P. Reinhard<br>
Executive Vice President and Chief Financial Officer<br>
THE DOW CHEMICAL COMPANY</p>

<p align="center">2030 Dow Center<br>
Midland, Michigan 48674</p>
<i>

<p align="center">(Name and address of agent for service)</p>
</i>

<p align="center">Telephone: (989) 636-1000</p>

<p align="center">____________________</p>
<b>

<p align="center">CALCULATION OF REGISTRATION FEE</p>
</b></font>

<table border="1" cellPadding="7" cellSpacing="2" width="621">
  <tr>
    <td vAlign="top" width="167"><font size="2">Title of securities to be registered</font></td>
    <td vAlign="top" width="89"><font size="2">Amount to <br>
    be registered</font></td>
    <td vAlign="top" width="71"><font size="2">Proposed maximum Offering price per share</font></td>
    <td vAlign="top" width="89"><font size="2">Proposed maximum Aggregate Offering price</font></td>
    <td vAlign="top" width="115"><font size="2">Amount of<br>
    registration fee</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="167"><font size="2">Common Stock, par value $2.50 per share, of
    The Dow Chemical Company</font></td>
    <td vAlign="top" width="89"><font size="2">6,000,000 shares</font></td>
    <td vAlign="top" width="71"><font size="2">$26.95</font></td>
    <td vAlign="top" width="89"><font size="2">$161,700,000</font></td>
    <td vAlign="top" width="115"><font size="2">$14,876.40</font></td>
  </tr>
</table>
<font size="2">

<p align="center">PART II</p>

<p>Item 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</p>

<p>The following documents heretofore filed by The Dow Chemical Company (&quot;Dow&quot;)
with the Securities and Exchange Commission (the &quot;Commission&quot;) are incorporated
herein by this reference:

<ol type="a">
  <li>Dow&#146;s Annual Report on Form 10-K for the year ended December 31, 2001. (The
    consolidated financial statements and the financial statement schedule included in such
    Annual Report have been audited by Deloitte &amp; Touche </font><font size="1">LLP</font><font
    size="2">, independent auditors, as stated in their reports (which report on the
    consolidated financial statements expresses an unqualified opinion and includes an
    explanatory paragraph relating to a change in method of accounting for derivative
    instruments and hedging activities to conform to Statement of Financial Accounting
    Standards No. 133), appearing therein, and have been so incorporated in this Registration
    Statement in reliance upon such reports given upon the authority of said firm as experts
    in accounting and auditing.); </li>
  <li>Dow&#146;s current reports on Form 8-K filed on January 3, 2002 and January 31, 2002;
    and </li>
  <li>The description of Dow&#146;s Common Stock, par value $2.50 per share, contained in a
    registration statement filed pursuant to Section 12 of the Securities Exchange Act of 1934
    (the &quot;Act&quot;) and any amendments or reports filed for the purpose of updating that
    description.</li>
</ol>

<p>All documents subsequently filed by Dow pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Act prior to the filing of a post-effective amendment which indicates that all the
securities offered hereby have been sold or which deregisters all such securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part
hereof from the date of filing of such documents.</p>

<p>Item 6. IDEMNIFICATION OF DIRECTORS AND OFFICERS.</p>

<p>Under Article VI of its Restated Certificate of Incorporation, as amended, Dow may
indemnify its Directors, officers, employees and agents to such extent as is permitted by
the laws of the State of Delaware and as Dow&#146;s Bylaws may from time to time provide.
Section 145 of the General Corporation Law of the State of Delaware empowers Dow to
indemnify, subject to the standards and limitations therein prescribed, any person in
connection with any action, suit or proceeding brought or threatened by reason of the fact
that such person is or was a Director, officer, employee or agent of Dow or is or was
serving in such capacity with respect to another corporation or other enterprise at the
request of Dow. Under Section VI of the Bylaws of Dow, Dow is required to indemnify its
Directors, officers and employees to the full extent permitted by Delaware law whenever
such a person is a defendant in any legal proceeding. Section VI also gives the Company
discretion to indemnify Directors, officers, employees and agents in other legal
proceedings to which they are made a party. Any indemnification of a Director, officer,
employee or agent of the Company must be approved by the Board of Directors. Dow maintains
a Directors&#146; and officers&#146; liability insurance policy that indemnifies
Dow&#146;s Directors and officers against certain losses in connection with claims made
against them for certain wrongful acts.</p>

<p>Item 8. EXHIBITS.</p>
</font>

<table border="1" cellPadding="7" cellSpacing="1" width="590">
  <tr>
    <td vAlign="top" width="50%"><font size="2">Exhibit No.</font></td>
    <td vAlign="top" width="50%"><font size="2">Description of Exhibit </font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2">4(a)</font></td>
    <td vAlign="top" width="50%"><font size="2">Restated Certificate of Incorporation of The
    Dow Chemical Company, filed as Exhibit 3(i) to Dow&#146;s Annual Report on Form 10-K for
    the year ended December 31, 2000, incorporated herein by this reference.</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2">4(b)</font></td>
    <td vAlign="top" width="50%"><font size="2">Bylaws of The Dow Chemical Company, filed as
    Exhibit 3(ii) to Dow&#146;s Quarterly Report on Form 10-Q for the quarter ended June 30,
    2001, incorporated herein by this reference.</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2">23(a)</font></td>
    <td vAlign="top" width="50%"><font size="2">Independent Auditors&#146; Consent.</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2">23(b)</font></td>
    <td vAlign="top" width="50%"><font size="2">Independent Auditors&#146; Consent.</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2">24</font></td>
    <td vAlign="top" width="50%"><font size="2">Power of Attorney.</font></td>
  </tr>
</table>
<font size="2">

<p>&nbsp;</p>

<p>Item 9. UNDERTAKINGS.</p>

<p>(a) The undersigned registrant hereby undertakes:</p>

<p>(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:

<dir>
  <dir>
    <dir>
      <dir>
        <dir>
          <dir>
            <p>(i) To include any prospectus required by section 10(a)(3) of the Securities Act of
            1933;</p>
            <p>(ii) To reflect in the prospectus any facts or events arising after the effective date
            of the registration statement (or the most recent post-effective amendment thereof) which,
            individually or in the aggregate, represent a fundamental change in the information set </p>
            <p>forth in the registration statement;</p>
            <p>(iii) To include any material information with respect to the plan of distribution not
            previously disclosed in the registration statement or any material change to such
            information in the registration statement;</p>
          </dir>
        </dir>
      </dir>
    </dir>
  </dir>
</dir>

<p>Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3 or Form S-8, and the information required to be
included in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement.</p>

<p>(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</p>

<p>(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</p>

<p>(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual
report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan&#146;s annual report
pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.</p>

<p>(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933
may be permitted to Directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of
expenses incurred or paid by a Director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such Director,
officer or controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.</p>
</font>

<p align="center">SIGNATURES</p>
<font size="2">

<p>The Registrant. Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of
Midland, State of Michigan, on March 20, 2002.</p>

<p>THE DOW CHEMICAL COMPANY<br>
(Registrant)</p>

<p>By: <u>/S/ J.P. REINHARD</u><br>
J.P. Reinhard<br>
Executive Vice President and<br>
Chief Financial Officer<u></p>
</u>

<p>Pursuant to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the date indicated.</p>
</font>

<table border="0" cellPadding="7" cellSpacing="0" width="393">
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>A. A. ALLEMANG</u>* <br>
    A. A. Allemang</font></td>
    <td vAlign="top" width="50%"><font size="2">Director and Executive Vice President</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>J. K. BARTON</u>*<br>
    J. K. Barton</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>F. H. BROD* </u><br>
    F. H. Brod</font></td>
    <td vAlign="top" width="50%"><font size="2">Vice President and Controller (Principal
    Accounting Officer)</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>A. J. CARBONE</u>*<br>
    A. J. Carbone</font></td>
    <td vAlign="top" width="50%"><font size="2">Director and Vice Chairman of the Board</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>J. M. COOK</u>* <br>
    J. M. Cook</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>J. C. DANFORTH</u>*<br>
    J. C. Danforth</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>W. D. DAVIS</u>*<br>
    W. D. Davis</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>B. H. FRANKLIN</u>*<br>
    B. H. Franklin</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>A. D. GILMOUR</u>*<br>
    A. D. Gilmour</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>M. D. PARKER</u>*<br>
    M. D. Parker</font></td>
    <td vAlign="top" width="50%"><font size="2">Director, President and Chief Executive
    Officer</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>J. P. REINHARD</u>*<br>
    J. P. Reinhard</font></td>
    <td vAlign="top" width="50%"><font size="2">Director, Executive Vice President and Chief
    Financial Officer</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>J.M. RINGLER</u>*<br>
    J. M. Ringler</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>H.T. SHAPIRO</u>*<br>
    H.T. Shapiro </font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>W. S. STAVROPOULOS* </u><br>
    W. S. Stavropoulos </font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="50%"><font size="2"><u>P. G. STERN*<br>
    </u>P. G. Stern</font></td>
    <td vAlign="top" width="50%"><font size="2">Director</font></td>
  </tr>
</table>
<font size="2">

<p>*By: <u>/S/ J.P. REINHARD</u><br>
J.P. Reinhard<br>
Attorney-in-Fact<u></p>
</u>

<p>Dated: March 20, 2002</p>

<p align="center">EXHIBIT INDEX</p>

<p align="center">&nbsp;</p>
</font>

<table border="1" cellPadding="7" cellSpacing="1" width="590">
  <tr>
    <td vAlign="top" width="22%"><font size="2">Exhibit No.</font></td>
    <td vAlign="top" width="67%"><font size="2">Description of Exhibit</font></td>
    <td vAlign="top" width="11%"><font size="2">Page Number</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="22%"><font size="2">4(a)</font></td>
    <td vAlign="top" width="67%"><font size="2">Restated Certificate of Incorporation of The
    Dow Chemical Company, filed as Exhibit 3(i) to Dow&#146;s Annual Report on Form 10-K for
    the year ended December 31, 2000, incorporated herein by this reference.</font></td>
    <td vAlign="top" width="11%">&nbsp;</td>
  </tr>
  <tr>
    <td vAlign="top" width="22%"><font size="2">4(b)</font></td>
    <td vAlign="top" width="67%"><font size="2">Bylaws of The Dow Chemical Company, filed as
    Exhibit 3(ii) to Dow&#146;s Quarterly Report on Form 10-Q for the quarter ended June 30,
    2001, incorporated herein by this reference.</font></td>
    <td vAlign="top" width="11%">&nbsp;</td>
  </tr>
  <tr>
    <td vAlign="top" width="22%"><font size="2">23(a)</font></td>
    <td vAlign="top" width="67%"><font size="2">Independent Auditors&#146; Consent.</font></td>
    <td vAlign="top" width="11%"><font size="2">8</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="22%"><font size="2">23(b)</font></td>
    <td vAlign="top" width="67%"><font size="2">Independent Auditors&#146; Consent.</font></td>
    <td vAlign="top" width="11%"><font size="2">9</font></td>
  </tr>
  <tr>
    <td vAlign="top" width="22%"><font size="2">24</font></td>
    <td vAlign="top" width="67%"><font size="2">Power of Attorney.</font></td>
    <td vAlign="top" width="11%"><font size="2">10-11</font></td>
  </tr>
</table>
<font size="2">

<p align="center">&nbsp;</p>

<p align="center">EXHIBIT 23(a)</p>

<p>INDEPENDENT AUDITORS&#146; CONSENT</p>

<p align="center">&nbsp;</p>

<p align="justify">The Dow Chemical Company:</p>

<p align="justify">We consent to the incorporation by reference in this Registration
Statement of The Dow Chemical Company on Form S-8 of our reports dated February 13, 2002
(which report on the consolidated financial statements expresses an unqualified opinion
and includes an explanatory paragraph relating to a change in method of accounting for
derivative instruments and hedging activities to conform to Statement of Financial
Accounting Standards No. 133), appearing in the Annual Report on Form 10-K of The Dow
Chemical Company for the year ended December 31, 2001, and to the reference to us under
Item 3, &quot;Incorporation of Documents by Reference,&quot; of this Registration
Statement. </p>

<p>/S/ DELOITTE &amp; TOUCHE LLP<br>
DELOITTE &amp; TOUCHE LLP<br>
Midland, Michigan <br>
March 19, 2002</p>

<p align="center">EXHIBIT 23(b)</p>

<p>INDEPENDENT AUDITORS&#146; CONSENT</p>

<p align="justify">The Board of Directors<br>
The Dow Chemical Company:</p>

<p align="justify">We consent to the incorporation by reference in this Registration
Statement of The Dow Chemical Company on Form S-8 of our report dated January 22, 2001,
except as to Note 17, which is as of February 6, 2001, relating to the consolidated
balance sheet of Union Carbide Corporation and subsidiaries as of December 31, 2000, and
the related consolidated statements of income, stockholders&#146; equity and cash flows
and related schedule for each of the years in the two-year period ended December 31, 2000,
appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended
December 31, 2001.</p>

<p>/S/ KPMG LLP<br>
KPMG LLP<br>
Stamford, Connecticut<br>
March 19, 2002</p>

<p align="center">EXHIBIT 24</p>
<b>

<p align="center">Power of Attorney</p>
</b>

<p align="justify">Each person whose signature appears below constitutes and appoints J.
Pedro Reinhard and Frank H. Brod, acting severally, as his or her attorney-in-fact and
agent, to sign any registration statement on Form S-8 and any or all amendments (including
post-effective amendments) to such registration statement in connection with the <b>2002-2003
Employees&#146; Stock Purchase Plan</b> of The Dow Chemical Company and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting to said attorney-in-fact and agent full power
and authority to perform any act in connection with any of the foregoing as fully to all
intents and purposes as he or she might do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.
Each attorney-in-fact and agent is hereby granted full power of substitution and
revocation with respect hereto.</p>
<u>

<p>SIGNATURE</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>
TITLE</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>
DATE</p>

<p>/S/ A. A. ALLEMANG</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director and Executive
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
A. A. Allemang
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Vice President</p>
<u>

<p>/S/ J. K. BARTON</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
J. K. Barton</p>
<u>

<p>/S/ F. H. BROD</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Vice President and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
F. H. Brod
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Controller (Principal Accounting Officer)<br>
</p>

<p><u>/S/ A. J. CARBONE</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
A. J. Carbone
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Vice Chairman of the Board </p>
<u>

<p>/S/ J. M. COOK</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; February 14, 2002<br>
J. M. Cook</p>
<u>

<p>/S/ J. C. DANFORTH</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
J. C. Danforth</p>
<u>

<p>/S/ W. D. DAVIS</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
W. D. Davis</p>
<u>

<p>/S/ B. H. FRANKLIN</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
B. H. Franklin</p>
<u>

<p>/S/ A. D. GILMOUR</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
A. D. Gilmour </p>
<u>

<p>/S/ M. D. PARKER</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director, President and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
M. D. Parker
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Executive Officer</p>
<u>

<p>/S/ J. P. REINHARD</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director, Executive Vice
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
J. P. Reinhard
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
President and Chief <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; Financial Officer</p>
<u>

<p>/S/ H. T. SHAPIRO</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
H. T. Shapiro</p>
<u>

<p>/S/ W. S. STAVROPOULOS</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
February 14, 2002<br>
W. S. Stavropoulos
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chairman of the Board </p>
<u>

<p>/S/ P. G. STERN</u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
March 11, 2002<br>
P. G. Stern</p>
</font>
</body>
</html>
[{"type": "S-8", "sequence": "1", "filename": "seightespp.htm", "description": "2002-2003 TDCC EMPLOYEES' STOCK PURCHASE PLAN", "secsgml_size_bytes": 34256}, {"type": "S-8", "sequence": "3", "filename": "seightespp.pdf", "description": "2002-2003 TDCC EMPLOYEES' STOCK PURCHASE PLAN - COURTESY COPY", "secsgml_size_bytes": 24586}]
{"company-data": {"conformed-name": "DOW CHEMICAL CO /DE/", "cik": "0000029915", "assigned-sic": "2800", "irs-number": "381285128", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-84700", "film-number": "02581457"}, "business-address": {"street1": "2030 DOW CENTER", "city": "MIDLAND", "state": "MI", "zip": "48674-2030", "phone": "5176361000"}, "mail-address": {"street1": "2030 DOW CENTER", "city": "MIDLAND", "state": "MI", "zip": "48674-2030"}}
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
Form S-8
REGISTRATION STATEMENT
under
THE SECURITIES ACT OF 1933
____________________
THE DOW CHEMICAL COMPANY
(a Delaware corporation)
Executive Offices -- 2030 Dow Center
Midland, Michigan 48674
(Name, state of incorporation and address of principal executive office
of issuer)
I.R.S. Employer Identification No. 38-1285128
____________________
THE DOW CHEMICAL COMPANY
2002-2003 EMPLOYEES' STOCK PURCHASE PLAN
(Full title of the plan)
____________________
J.P. Reinhard
Executive Vice President and Chief Financial Officer
THE DOW CHEMICAL COMPANY
2030 Dow Center
Midland, Michigan 48674
(Name and address of agent for service)
Telephone: (989) 636-1000
____________________
CALCULATION OF REGISTRATION FEE
Title of securities to be registered
Amount to
be registered
Proposed maximum Offering price per share
Proposed maximum Aggregate Offering price
Amount of
registration fee
Common Stock, par value $2.50 per share, of
    The Dow Chemical Company
6,000,000 shares
$26.95
$161,700,000
$14,876.40
PART II
Item 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents heretofore filed by The Dow Chemical Company ("Dow")
with the Securities and Exchange Commission (the "Commission") are incorporated
herein by this reference:
Dow's Annual Report on Form 10-K for the year ended December 31, 2001. (The
    consolidated financial statements and the financial statement schedule included in such
    Annual Report have been audited by Deloitte & Touche
LLP
, independent auditors, as stated in their reports (which report on the
    consolidated financial statements expresses an unqualified opinion and includes an
    explanatory paragraph relating to a change in method of accounting for derivative
    instruments and hedging activities to conform to Statement of Financial Accounting
    Standards No. 133), appearing therein, and have been so incorporated in this Registration
    Statement in reliance upon such reports given upon the authority of said firm as experts
    in accounting and auditing.);
Dow's current reports on Form 8-K filed on January 3, 2002 and January 31, 2002;
    and
The description of Dow's Common Stock, par value $2.50 per share, contained in a
    registration statement filed pursuant to Section 12 of the Securities Exchange Act of 1934
    (the "Act") and any amendments or reports filed for the purpose of updating that
    description.
All documents subsequently filed by Dow pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Act prior to the filing of a post-effective amendment which indicates that all the
securities offered hereby have been sold or which deregisters all such securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part
hereof from the date of filing of such documents.
Item 6. IDEMNIFICATION OF DIRECTORS AND OFFICERS.
Under Article VI of its Restated Certificate of Incorporation, as amended, Dow may
indemnify its Directors, officers, employees and agents to such extent as is permitted by
the laws of the State of Delaware and as Dow's Bylaws may from time to time provide.
Section 145 of the General Corporation Law of the State of Delaware empowers Dow to
indemnify, subject to the standards and limitations therein prescribed, any person in
connection with any action, suit or proceeding brought or threatened by reason of the fact
that such person is or was a Director, officer, employee or agent of Dow or is or was
serving in such capacity with respect to another corporation or other enterprise at the
request of Dow. Under Section VI of the Bylaws of Dow, Dow is required to indemnify its
Directors, officers and employees to the full extent permitted by Delaware law whenever
such a person is a defendant in any legal proceeding. Section VI also gives the Company
discretion to indemnify Directors, officers, employees and agents in other legal
proceedings to which they are made a party. Any indemnification of a Director, officer,
employee or agent of the Company must be approved by the Board of Directors. Dow maintains
a Directors' and officers' liability insurance policy that indemnifies
Dow's Directors and officers against certain losses in connection with claims made
against them for certain wrongful acts.
Item 8. EXHIBITS.
Exhibit No.
Description of Exhibit
4(a)
Restated Certificate of Incorporation of The
    Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for
    the year ended December 31, 2000, incorporated herein by this reference.
4(b)
Bylaws of The Dow Chemical Company, filed as
    Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended June 30,
    2001, incorporated herein by this reference.
23(a)
Independent Auditors' Consent.
23(b)
Independent Auditors' Consent.
24
Power of Attorney.
Item 9. UNDERTAKINGS.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities Act of
            1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date
            of the registration statement (or the most recent post-effective amendment thereof) which,
            individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement;
(iii) To include any material information with respect to the plan of distribution not
            previously disclosed in the registration statement or any material change to such
            information in the registration statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3 or Form S-8, and the information required to be
included in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual
report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933
may be permitted to Directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of
expenses incurred or paid by a Director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such Director,
officer or controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.
SIGNATURES
The Registrant. Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of
Midland, State of Michigan, on March 20, 2002.
THE DOW CHEMICAL COMPANY
(Registrant)
By:
/S/ J.P. REINHARD
J.P. Reinhard
Executive Vice President and
Chief Financial Officer
Pursuant to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the date indicated.
A. A. ALLEMANG
*
A. A. Allemang
Director and Executive Vice President
J. K. BARTON
*
J. K. Barton
Director
F. H. BROD*
F. H. Brod
Vice President and Controller (Principal
    Accounting Officer)
A. J. CARBONE
*
A. J. Carbone
Director and Vice Chairman of the Board
J. M. COOK
*
J. M. Cook
Director
J. C. DANFORTH
*
J. C. Danforth
Director
W. D. DAVIS
*
W. D. Davis
Director
B. H. FRANKLIN
*
B. H. Franklin
Director
A. D. GILMOUR
*
A. D. Gilmour
Director
M. D. PARKER
*
M. D. Parker
Director, President and Chief Executive
    Officer
J. P. REINHARD
*
J. P. Reinhard
Director, Executive Vice President and Chief
    Financial Officer
J.M. RINGLER
*
J. M. Ringler
Director
H.T. SHAPIRO
*
H.T. Shapiro
Director
W. S. STAVROPOULOS*
W. S. Stavropoulos
Director
P. G. STERN*
P. G. Stern
Director
*By:
/S/ J.P. REINHARD
J.P. Reinhard
Attorney-in-Fact
Dated: March 20, 2002
EXHIBIT INDEX
Exhibit No.
Description of Exhibit
Page Number
4(a)
Restated Certificate of Incorporation of The
    Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for
    the year ended December 31, 2000, incorporated herein by this reference.
4(b)
Bylaws of The Dow Chemical Company, filed as
    Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended June 30,
    2001, incorporated herein by this reference.
23(a)
Independent Auditors' Consent.
8
23(b)
Independent Auditors' Consent.
9
24
Power of Attorney.
10-11
EXHIBIT 23(a)
INDEPENDENT AUDITORS' CONSENT
The Dow Chemical Company:
We consent to the incorporation by reference in this Registration
Statement of The Dow Chemical Company on Form S-8 of our reports dated February 13, 2002
(which report on the consolidated financial statements expresses an unqualified opinion
and includes an explanatory paragraph relating to a change in method of accounting for
derivative instruments and hedging activities to conform to Statement of Financial
Accounting Standards No. 133), appearing in the Annual Report on Form 10-K of The Dow
Chemical Company for the year ended December 31, 2001, and to the reference to us under
Item 3, "Incorporation of Documents by Reference," of this Registration
Statement.
/S/ DELOITTE & TOUCHE LLP
DELOITTE & TOUCHE LLP
Midland, Michigan
March 19, 2002
EXHIBIT 23(b)
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
The Dow Chemical Company:
We consent to the incorporation by reference in this Registration
Statement of The Dow Chemical Company on Form S-8 of our report dated January 22, 2001,
except as to Note 17, which is as of February 6, 2001, relating to the consolidated
balance sheet of Union Carbide Corporation and subsidiaries as of December 31, 2000, and
the related consolidated statements of income, stockholders' equity and cash flows
and related schedule for each of the years in the two-year period ended December 31, 2000,
appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended
December 31, 2001.
/S/ KPMG LLP
KPMG LLP
Stamford, Connecticut
March 19, 2002
EXHIBIT 24
Power of Attorney
Each person whose signature appears below constitutes and appoints J.
Pedro Reinhard and Frank H. Brod, acting severally, as his or her attorney-in-fact and
agent, to sign any registration statement on Form S-8 and any or all amendments (including
post-effective amendments) to such registration statement in connection with the
2002-2003
Employees' Stock Purchase Plan
of The Dow Chemical Company and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting to said attorney-in-fact and agent full power
and authority to perform any act in connection with any of the foregoing as fully to all
intents and purposes as he or she might do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.
Each attorney-in-fact and agent is hereby granted full power of substitution and
revocation with respect hereto.
SIGNATURE
TITLE
DATE
/S/ A. A. ALLEMANG
Director and Executive
                                            
February 14, 2002
A. A. Allemang
                                                    
Vice President
/S/ J. K. BARTON
Director
                                                                      
February 14, 2002
J. K. Barton
/S/ F. H. BROD
Vice President and
                                                    
February 14, 2002
F. H. Brod
                                                             
Controller (Principal Accounting Officer)
/S/ A. J. CARBONE
Director and
                                                                
February 14, 2002
A. J. Carbone
                                                       
Vice Chairman of the Board
/S/ J. M. COOK
Director
                                                                      
  February 14, 2002
J. M. Cook
/S/ J. C. DANFORTH
Director
                                                                       
February 14, 2002
J. C. Danforth
/S/ W. D. DAVIS
Director
                                                                        
February 14, 2002
W. D. Davis
/S/ B. H. FRANKLIN
Director
                                                                        
February 14, 2002
B. H. Franklin
/S/ A. D. GILMOUR
Director
                                                                        
February 14, 2002
A. D. Gilmour
/S/ M. D. PARKER
Director, President and
                                              
February 14, 2002
M. D. Parker
                                                        
Chief Executive Officer
/S/ J. P. REINHARD
Director, Executive Vice
                                             
February 14, 2002
J. P. Reinhard
                                                      
President and Chief
Financial Officer
/S/ H. T. SHAPIRO
Director
                                                                         
February 14, 2002
H. T. Shapiro
/S/ W. S. STAVROPOULOS
Director and
                                                                  
February 14, 2002
W. S. Stavropoulos
                                          
Chairman of the Board
/S/ P. G. STERN
Director
                                                                          
March 11, 2002
P. G. Stern