Air Products Selects Dow as Exclusive Global Distributor of Polyurethane Prepolymers for High Performance Cast Elastomers


Air Products to Service Existing U.S. and Canada Customers

LEHIGH VALLEY, Pa. (September 5, 2006) - Air Products (NYSE:APD) announced today that they have signed an agreement appointing The Dow Chemical Company (NYSE:DOW) as the exclusive global distributor of its polyurethane prepolymers used to manufacture high performance cast elastomers, with the exception of existing Air Products customers in U.S. and Canada. The agreement gives Air Products a more effective channel to market and the opportunity to focus on growth segments outside of cast elastomers while broadening Dow's product portfolio.

Through this alliance, Dow will become the exclusive global distributor for Air Products' AIRTHANE® and VERSATHANE® prepolymers outside of Air Products' existing customers in the U.S. and Canada. Dow will also be a non-exclusive distributor for VERSALINK® curative grades that together with the existing offering from Dow will cover the requirements of a broad range of applications. Air Products will continue to pursue other product applications outside of cast elastomers.

Air Products' low-free TDI Airthane and Versathane prepolymers and Versalink curatives are uniquely capable of producing higher dynamic properties with excellent processing latitude. Polyurethane high performance cast elastomers are used in a variety of market segments for use as wheels, tires, rollers, bending stiffeners, pipe saddles and pipeline pigs applications, just to name a few.

"Through this agreement, Air Products will benefit from Dow's technological capabilities, geographic presence and expertise in reaching the global cast elastomer markets while allowing Air Products to focus on other areas for growth where we have greater presence," says Bob Thomas, global business director, Performance Products, Air Products. "Dow is a recognized world leader in polymer chemistry and its polyurethanes business is very strong. We believe that the ability to service customers will be greatly enhanced as a result of this agreement by expanding the breadth of solutions offered to customers globally."

According to Juan Antonio Merino, general manager, Polyurethanes Systems for Dow, "This agreement will offer Dow the possibility to assist our customers and further broaden its polyurethane offering by adding the low-free TDI prepolymer technology developed by Air Products to its mix. Our customers globally will benefit from this agreement as we will be better able to meet their differentiated needs."

With the addition of Air Products' polyurethanes high performance prepolymers, Dow expects to be able to offer a complete product line and will provide systems offerings to its customers worldwide that will better satisfy the diversified requirements of these markets in terms of both application and performance, and allow its customers to compete more effectively. Moreover, customers will benefit from Dow's in-depth knowledge, thorough technological capabilities and experience in the field of polymer chemistry.

Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $8.1 billion, operations in over 30 countries, and over 20,000 employees around the globe. For more information, visit www.airproducts.com

Media Inquiries:

Robert Brown,

Tel: (610) 481-1192,

E-mail: brownrf@airproducts.com

Investor Inquiries:

Phil Sproger,

Tel: (610) 481-7461,

E-mail: sprogepc@airproducts.com

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