EXHIBIT 21
Subsidiaries of The Dow Chemical Company
At December 31, 2009
				Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
The Dow Chemical Company				Delaware
	Americas Styrenics LLC (1)			Delaware	50
	Arabian Chemical Company (Latex) Ltd. (1)			Saudi Arabia	50
	Arabian Chemical Company (Polystyrene) Limited (1)			Saudi Arabia	50
	ARAKAWA Europe GmbH			Germany	60
	Battleground Water Company (82)			Texas	9
	Buildscape, LLC			Delaware	100
	CanStates Holdings Inc.			Oklahoma	100
		ANGUS Chemical Company		Delaware	100
	CD Polymers Inc.			Delaware	100
	Centen Ag Inc.			Delaware	100
		Dow AgroSciences LLC (9)		Delaware	39
		DowBrands Inc. (17)		Delaware	8
		Mycogen Corporation (16)		California	12
	Chemars Inc.			Delaware	100
	Chemars III LLC			Delaware	100
	Chemtech II L.P. (8)			Delaware	22
	DC Partnership Management Inc.			Delaware	100
		DowBrands L.P. (6)		Delaware	42
	DCOMCO, Inc.			Delaware	100
	Denmerco Inc.			Delaware	100
	Dexco Polymers Operating Company LLC (1)			Texas	50
		Dexco Polymers LP (1) (23)		Texas	1
	Diamond Capital Management Inc.			Delaware	100
	DML Holding Inc. (36)			Delaware	89
	Dofinco, Inc.			Delaware	100
	Dow Capital International LLC			Delaware	100
	Dow Chemical (Australia) Limited			Australia	100
		Dow Australia Superannuation Fund A Pty Limited		Australia	100
	Dow Chemical (China) Investment Company Limited			China	100
		Dow Chemical (China) Company Limited		China	100
		Dow Chemical (Guangzhou) Company Limited		China	100
		Dow Chemical (Shanghai) Company Limited		China	100
		Dow Chemical (Zhangjiagang) Company Limited (13)		China	85
		Dow S/B Latex (Zhangjiagang) Co. Ltd. (12)		China	61
		Guangdong Zhongshan Amerchol Specialty Chemicals Co., Ltd.		China	90
		SAL Petrochemical (Zhangjiagang) Company Limited (15)		China	10
		Zhejiang Pacific Chemical Corporation		China	100
	Dow Chemical Delaware Corp.			Delaware	100
		Chemtech II L.P. (8)		Delaware	73
			Chemtech Portfolio Inc. (11)	Texas	33
			Chemtech Portfolio II Inc.	Michigan	100
	Dow Chemical (Hong Kong) Limited			Hong Kong	100
	Dow Chemical International Ltd.			Delaware	100
		Calvin Capital LLC		Delaware	100
		Dow Chemical Thailand Ltd.		Thailand	100
		Dow International Holdings Company (27)		Delaware	1
		Dow International Holdings S.A. (86)		Switzerland	1
		Pacific Plastics (Thailand) Limited (47)		Thailand	51
		Petroquimica-Dow S.A. (Petrodow)		Chile	100
	Dow Chemical Korea Limited (40)			Korea	86
	Dow Chemical (NZ) Limited			New Zealand	100
	Dow Chemical Pacific Limited			Hong Kong	100
	Dow Chemical Pacific (Singapore) Private Limited			Singapore	100
		Dow Chemical International  Pvt. Ltd. (32)		India	99
		Dow Chemical (Malaysia) Sdn. Bhd.		Malaysia	100
		Styron Holdings Asia Pte. Ltd.		Singapore	100
			Dow Chemical (Zhangjiagang) Company Limited (13)	China	15
			Dow S/B Latex (Zhangjiagang) Co. Ltd. (12)	China	39

175

		SAL Petrochemical (Zhangjiagang) Company Limited (15)							China	90
	G.Z. Holdings Pte. Ltd.								Singapore	100
	PT Dow Chemical Indonesia (18)								Indonesia	15
Dow Chemical (Singapore) Private Limited									Singapore	100
	Dow Chemical International  Pvt. Ltd. (32)								India	1
Dow Chemical Taiwan Limited									Taiwan	100
Dow Chemical Telecommunications Corp.									Delaware	100
Dow Credit Corporation									Delaware	100
Dow Customs & Trade Inc.									Delaware	100
Dow Deutschland Inc.									Delaware	100
	Dow Chemical Inter-American Limited								Delaware	100
		Dow Quimica de Colombia S.A. (5)							Colombia	10
Dow Deutschland Management Inc.									Delaware	100
Dow Engineering Company									Delaware	100
	Dow Engineering, Inc.								Michigan	100
Dow Environmental Inc.									Delaware	100
Dow Financial Services Inc.									Delaware	100
Dow Global Technologies Inc.									Delaware	100
	Chemtech Portfolio Inc. (11)								Texas	67
	Dow Petrochemicals Holding LLC (48)								Delaware	25
		Daulat Holdco LLC							Delaware	100
			K-D Petrochemicals C.V. (1) (53)						Netherlands	1
		K-Dow Petrochemicals GmbH (1)							Switzerland	50
			K-D Petrochemicals C.V. (1) (53)						Netherlands	47
	Dow Technology Investments LLC (43)								Delaware	50
Dow Holdings LLC									Delaware	100
	Dow Corning Corporation (1)								Michigan	50
	Dow Hydrocarbons and Resources LLC								Delaware	100
		Cayuse Pipeline, Inc.							Texas	100
		Dow Intrastate Gas Company							Louisiana	100
		Dow Pipeline Company							Texas	100
		K/D/S Promix, LLC (1)							Texas	50
		Midland Pipeline Corp.							Delaware	100
			Fort Saskatchewan Ethylene Storage Corporation (1)						Canada	50
				Fort Saskatchewan Ethylene Storage Limited Partnership (1) (14)					Canada	1
	DowBrands L.P. (6)								Delaware	58
Dow Internacional Mexicana S.A. de C.V.									Mexico	100
Dow International B.V.									Netherlands	100
Dow International Financial Services									Ireland	100
	Dow Capital Public Limited Company								Ireland	100
Dow International Holdings Company (27)									Delaware	72
	DC Spectrum Holding C.V. (44)								Netherlands	99
		Cooperatieve DC Prisma Holding U.A. (45)							Netherlands	99
			Dow Dutch Holding B.V.						Netherlands	100
				DC Galaxy Holding C.V. (46)					Netherlands	1
				Dow Europe Finance I B.V.					Netherlands	100
				Dow International Holdings S.A. (86)					Switzerland	99
					DC Galaxy Holding C.V. (46)				Netherlands	99
						Dow Europe Holding B.V.			Netherlands	100
							BASF DOW HPPO B.V. (1)		Netherlands	50
							BASF DOW HPPO Technology B.V. (1)		Netherlands	50
							Control Securities Finance (Consecfin) B.V.		Netherlands	100
							DC Finance Canada B.V.		Netherlands	100
							Domaluna B.V.		Netherlands	100
							Dow Austria Gesellschaft m.b.H		Austria	100
							Dow Belgium B.V.B.A.		Belgium	100
							Dow Benelux B.V.		Netherlands	100
								Dow Netwerk B.V.	Netherlands	100
								Emergo Finance C.V. (1)	Netherlands	50

176

	Polyol Belgium B.V.B.A. (10)			Belgium	99
	Valuepark Terneuzen Beheer B.V. (1)			Netherlands	50
		Valuepark Terneuzen C.V. (1) (31)		Netherlands	1
Dow Beteiligungsgesellschaft mbH & Co. KG				Germany	100
	Dow Olefinverbund GmbH (50)			Germany	5
Dow Chemical Company Limited				United Kingdom	100
	Autothane Limited			United Kingdom	100
	Cromarty Petroleum Company Limited (1)			United Kingdom	50
	Hyperlast Limited			United Kingdom	100
		ALH Rail Coatings Limited (1)		United Kingdom	50
		Hypertec Print Services Limited		United Kingdom	100
		Xitrack Limited (1)		United Kingdom	50
Dow Chemical Iberica S.L.				Spain	99
	Terminal de Atraque de Productos Petroquimicos, AIE (1)			Spain	50
	Transformadora de Etileno A.I.E. (1)			Spain	50
Dow Chemical Korea Limited (40)				Korea	14
Dow Chemical OOO				Russia	100
Dow Chemical Romania S.R.L.				Romania	100
Dow Deutschland Verwaltungs Vertriebs GmbH				Germany	100
	Dow Deutschland Vertriebs GmbH & Co. OHG (85)			Germany	30
Dow Europe GmbH				Switzerland	100
	Dolpa S.a.r.l.			Luxembourg	100
	Dow-GACL SolVenture Limited (1)			India	50
	Dow Chemical IMEA GmbH			Switzerland	100
	Dow Contract Services FZE			Dubai	100
	Dow Egypt Services Limited (49)			Egypt	25
	Dow Mideast Systems S.A.E. (JSC) (2)			Egypt	1
Dow France S.A.S.				France	100
Dow Hellas A.E.				Greece	100
Dow Hungary Kft. (29)				Hungary	99
Dow InterBranch B.V.				Netherlands	100
	Business Process Service Center Terneuzen B.V.			Netherlands	100
	Dow Danmark A/S			Denmark	100
	Dow Hungary Kft. (29)			Hungary	1
	Dow Mideast Systems S.A.E. (JSC) (2)			Egypt	1
	Dow Norge A/S			Norway	100
	Dow Saudi Arabia Company (41)			Saudi Arabia	15
	Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi (3)			Turkey	1
	Dow Zwijndrecht B.V.B.A. (24)			Belgium	1
	Santa Vitoria Acucar e Alcool Ltda. (1)			Brazil	50
Dow Italia s.r.l.				Italy	100
	Dow AgroSciences Italia s.r.l.			Italy	100
	Dow Italia Divisione Commerciale s.r.l			Italy	100
Dow Mideast Systems S.A.E. (JSC) (2)				Egypt	98
		Dow Egypt Services Limited (49)		Egypt	75
Dow Olefinverbund GmbH (50)				Germany	95
	ANGUS Chemie GmbH			Germany	100
		Dow Stade Produktions GmbH & Co. OHG (35)		Germany	30
		Dow Wolff Cellulosics GmbH & Co. OHG (42)		Germany	50
	Dow AgroSciences GmbH			Germany	100
	Dow Deutschland Anlagengesellschaft mbH			Germany	100
		Dow Wolff Cellulosics GmbH		Germany	100
			Probis GmbH	Germany	100
		UPPC GmbH		Germany	100
			UPPC Ltd.	United Kingdom	100
	Haltermann Products GmbH			Germany	100
		Dow MF Produktion GmbH & Co. OHG (83)		Germany	30
	Dow Pipeline Gesellschaft mbH & Co. KG			Germany	80
	Dow Pipeline Verwaltungsgesellschaft mbH			Germany	80

177

							SAFECHEM Europe GmbH		Germany	100
								Dow Deutschland Vertriebs GmbH & Co. OHG (85)	Germany	70
								Dow MF Produktion GmbH & Co. OHG (83)	Germany	70
								Dow Stade Produktions GmbH & Co. OHG (35)	Germany	70
								Dow Wolff Cellulosics GmbH & Co. OHG (42)	Germany	50
						Dow Plastics and Chemicals Holding B.V.			Netherlands	100
							K-D Petrochemicals C.V. (1) (53)		Netherlands	1
						Dow Polska Sp.z.o.o.			Poland	100
						Dow Portugal - Produtos Quimicos, Unipessoal, Lda.			Portugal	100
						Dow Saudi Arabia Company (41)			Saudi Arabia	85
						Dow Southern Africa (Pty) Ltd			South Africa	100
						Dow Suomi OY			Finland	100
						Dow Sverige AB			Sweden	100
						Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi (3)			Turkey	99
						Dow (Wilton) Limited			United Kingdom	100
						Dow Zwijndrecht B.V.B.A. (24)			Belgium	99
						Edulan A/S			Denmark	100
							Edulan U.K. Limited		United Kingdom	100
						Haltermann B.V.B.A.			Belgium	100
						HPPO Holding & Finance C.V. (1)			Netherlands	50
						MEGlobal B.V. (1)			Netherlands	50
						MTP HPJV C.V. (1)			Netherlands	50
						MTP HPJV Management B.V. (1)			Netherlands	50
						Oman Petrochemical Industries Company LLC (1)			Oman	50
						Polyol Belgium B.V.B.A. (10)			Belgium	1
						RUS Polyurethanes Holding B.V.			Netherlands	58
							Dow Izolan OOO (51)		Russia	100
							Dow Izolan Ukraine LLC (52)		Ukraine	100
						UC Investment B.V.			Netherlands	100
							EQUATE Marketing Company E.C. (1)		Bahrain	50
				Rofan Automation and Information Systems B.V.					Netherlands	100
				Terneuzen Partnership Services B.V.					Netherlands	100
					Valuepark Terneuzen C.V. (1) (31)				Netherlands	49
		Dow Netherlands Investments LLC							Delaware	100
			Cooperatieve DC Prisma Holding U.A. (45)						Netherlands	1
	Dow Netherlands Holdings LLC								Delaware	100
		DC Spectrum Holding C.V. (44)							Netherlands	1
	DowBrands Inc. (17)								Delaware	79
Dow International Technology Corporation									Delaware	100
Dow Kokam LLC (1)									Delaware	50
Dow Kakoh Kabushiki Kaisha									Japan	65
Dow Pacific Holdings B.V.									Netherlands	100
Dow Petrochemicals Holding LLC (48)									Delaware	25
Dow Quimica Argentina S.A. (25)									Argentina	76
Dow Quimica Chilena S.A. (26)									Chile	89
Dow Quimica de Colombia S.A. (5)									Colombia	90
Dow Quimica Mexicana S.A. de C.V. (21)									Mexico	85
Dow Roofing Systems LLC									Delaware	100
Dow South Africa Holdings (Pty) Ltd.									South Africa	100
	Sentrachem Limited								South Africa	100
		Cisvaal (Proprietary) Limited							South Africa	100
		Minchem International Inc.							South Africa	100
		South African Polymer Holdings (PTY)  Ltd.							South Africa	100
Dow Trading S.A.									Switzerland	100
Dow Trent Limited									United Kingdom	100
	Dow UK Limited								United Kingdom	100
		Haltermann Limited							United Kingdom	100
			Ascot Investments Limited						United Kingdom	100
				Ascot Chemicals Limited					United Kingdom	100

178

			Haltermann Pension Trustees Limited					United Kingdom	100
			Suter Limited					United Kingdom	100
Dow Venezuela, C.A. (7)								Venezuela	36
Dow Verwaltungsgesellschaft mbH								Germany	100
DSL Holdings Inc.								Delaware	100
	Dow Reichhold Specialty Latex LLC (1)							Delaware	50
DW Dexco Investment LLC								Delaware	100
	Dexco Polymers LP (1) (23)							Texas	49
Equipolymers B.V. (1)								Netherlands	50
Essex Chemical Corporation								New Jersey	100
Essex Specialty Products LLC								New Jersey	100
	American Mortell Corporation							Texas	100
		Mortell Company						Delaware	100
	Dow International Holdings Company (27)							Delaware	8
	GWN Holding, Inc. (37)							Delaware	27
	Wuhan Essex Chemical Co., Ltd.							China	100
FilmTec Corporation								Delaware	100
	OMEX Overseas Holdings Inc.							Virgin Islands	100
		Zhejiang OMEX Environmental Engineering Co., Ltd.						China	100
Flexible Products Company								Georgia	100
	Flexible Products Company of Canada, Inc							Canada	100
Forbanco Inc.								Delaware	100
General Latex and Chemical Corporation								Massachusetts	100
GNS Enterprises, LLC								Georgia	100
GNS Technologies, LLC								Georgia	100
Great Western Pipeline Company, Inc.								California	100
GWN Holding, Inc. (37)								Delaware	66
	Dow Canada Holding LP							Canada	100
		Dow Canadian Holding B.V.						Netherlands	100
			Daulat Canada Holding LP					Canada	100
				3229809 Nova Scotia Company				Canada	100
					Dow Investment Argentina S.A. (54)			Argentina	97
						PBBPolisur S.A. (34)		Argentina	72
					PBBPolisur S.A. (34)			Argentina	28
				Dow Investment Argentina S.A. (54)				Argentina	3
				K-D Petrochemicals C.V. (1) (53)				Netherlands	1
				SD Group Service Co., Ltd. (1)				Thailand	50
					Siam Polyethylene Company Limited (84)			Thailand	1
				Siam Polyethylene Company Limited (84)				Thailand	49
			Dow Canada Holding B.V.					Netherlands	100
				Dow Chemical Canada ULC				Canada	100
					Dow Chemical Finance Canada ULC			Canada	100
						Dow Brasil S.A.		Brazil	100
							Branco Dow Compostos de Engenharia S.A.	Brazil	100
							Cambricos de Uruguay S.A.	Uruguay	100
							Dopec Industria E Comercio Ltda.	Brazil	100
							Dow Especialidades Quimicas Ltda.	Brazil	100
							Dow Brasil Sudeste Industrial Ltda.	Brazil	100
							Keytil Sociedad Anonima	Uruguay	100
						Modeland International Holdings Inc. (28)		Barbados	59
					Fort Saskatchewan Ethylene Storage Limited Partnership (1) (14)			Canada	49
					H-D Tech Inc. (1)			Canada	50
					MEGlobal Canada Inc (1)			Canada	50
					Petromont and Company, Limited Partnership (1)			Canada	50
					Petromont Inc. (1)			Canada	50
Ifco Inc.								Delaware	100
	Chemtech II L.P. (8)							Delaware	5
Ion Holdings LLC (20)								Delaware	60
	Ion Investments S.a.r.l.							Luxembourg	100

179

Intarsia Corporation						Delaware	99
Liana Limited						Delaware	100
	Dorinco Insurance (Ireland) Limited					Ireland	100
	Dorinco Reinsurance Company					Michigan	100
	Dorintal Reinsurance Limited					Bermuda	100
	Timber Insurance Limited					Bermuda	100
LG DOW Polycarbonate Limited (1)						Korea	50
Pacific Plastics (Thailand) Limited (47)						Thailand	49
Productos Quimicos Peruanos S.A. (30)						Peru	91
PT Dow Chemical Indonesia (18)						Indonesia	85
Raven Group Ltd.						Delaware	100
RavenWorks Ltd.						Delaware	100
Rofan Services Inc.						Delaware	100
	Dow AgroSciences LLC (9)					Delaware	10
	DowBrands Inc. (17)					Delaware	2
	Ion Holdings LLC (20)					Delaware	40
	Mycogen Corporation (16)					California	88
		Dow AgroSciences LLC (9)				Delaware	51
			Alsan Research (1)			Iowa	50
			Bayer DAS (Private) Ltd (1)			Pakistan	50
			DAS Agricultural Investment Holding Company Ltd.			Mauritius	100
				Dow AgroSciences India Pvt. Ltd. (33)		India	1
				Nantong DAS Chemical Company Limited		China	100
			DERe Insurance Company			Vermont	100
			Dintec Agrichemicals LLC (1)			Delaware	50
			Dow AgroSciences Agricultural Products Limited			Mauritius	100
				Dow AgroSciences India Pvt. Ltd. (33)		India	99
			Dow AgroSciences B.V.			Netherlands	100
				Ambito DAS S.A. (1)		Argentina	50
				ChacoDAS S.A. (1)		Argentina	50
				DASER AGRO S.A. (1)		Argentina	50
				Desab S.A. (1)		Argentina	50
				Dintec Agroquimica Produtos Quimicos, Lda.		Portugal	66
				Distribuidora de Agroquimicos del Sureste de la Republica S.A. de C.V. (1)		Mexico	50
				Dow AgroSciences A.S.		Turkey	100
				Dow AgroSciences Argentina S.A. (22)		Argentina	89
					Dow AgroSciences Bolivia S.A. (38)	Bolivia	1
					Dow AgroSciences Paraguay S.A. (39)	Paraguay	1
				Dow AgroSciences Asia Sdn. Bhd.		Malaysia	100
				Dow AgroSciences Australia Limited		Australia	100
				Dow AgroSciences Bolivia S.A. (38)		Bolivia	98
				Dow AgroSciences Canada Inc.		Canada	100
				Dow AgroSciences Chile S.A.		Chile	100
				Dow AgroSciences Costa Rica S.A.		Costa Rica	100
				Dow AgroSciences Danmark A/S		Denmark	100
				Dow AgroSciences de Colombia S.A.		Colombia	100
				Dow AgroSciences de Mexico S.A. de C.V.		Mexico	100
				Dow AgroSciences Export S.A.S.		France	100
				Dow AgroSciences Guatemala S.A.		Guatemala	100
				Dow AgroSciences Iberica S.A.		Spain	100
				Dow AgroSciences Industrial Ltda.		Brazil	100
					Agromen Tecnologia Ltda.	Brazil	100
				Dow AgroSciences Limited		United Kingdom	100
				Dow AgroSciences (Malaysia) Sdn Bhd		Malaysia	100
				Dow AgroSciences (NZ) Limited		New Zealand	100
				Dow AgroSciences OOO		Russia	100
				Dow AgroSciences Pacific Limited		Hong Kong	100
				Dow AgroSciences Paraguay S.A. (39)		Paraguay	99
					Dow AgroSciences Bolivia S.A. (38)	Bolivia	1

180

				Dow AgroSciences Polska Sp z.o.o.			Poland	100
					Dow AgroSciences Hungary Kft. (19)		Hungary	1
				Dow AgroSciences S.A.S.			France	100
					Dow AgroSciences Distribution S.A.S.		France	100
				Dow AgroSciences s.r.o.			Czech Republic	100
				Dow AgroSciences Sverige A/B			Sweden	100
				Dow AgroSciences Taiwan Ltd.			Taiwan	100
				Dow AgroSciences Technology GmbH			Switzerland	100
					Dow AgroSciences Switzerland S.A.		Switzerland	100
						Dow AgroSciences Hungary KFT. (19)	Hungary	99
				Dow AgroSciences Vertriebsgesellschaft m.b.H.			Austria	100
				Dow Chemical Japan Limited			Japan	100
				Dow Venezuela, C.A. (7)			Venezuela	54
				Fedea S.A. (1)			Argentina	50
				I.C.R. - Intermedi Chimici Ravenna s.r.l. (1)			Italy	50
				JV Agro S.A. (1)			Argentina	50
				P.T. Dow AgroSciences Indonesia			Indonesia	95
				Rindes y Cultivos DAS S.A. (1)			Argentina	50
				Terramar JV S.A. (1)			Argentina	50
				Ubajay DAS S.A. (1)			Argentina	50
			Dow AgroSciences China Ltd.				Delaware	100
			Dow AgroSciences International Ltd.				Delaware	100
				Dow AgroSciences (Thailand) Limited			Thailand	100
			Dow AgroSciences Southern Africa (Proprietary) Ltd.				South Africa	100
				Sanachem Zimbabwe (Pvt) Ltd.			Zimbabwe	100
		DowBrands Inc. (17)					Delaware	11
		Mycogen Crop Protection, Inc.					California	100
			Mycogen S.A. de C.V. (4)				Mexico	99
		Mycogen Plant Science, Inc.					Delaware	100
			Agrigenetics, Inc.				Delaware	100
				Agrigenetics Molokai LLC			Hawaii	100
				Brodbeck Seeds LLC			Delaware	100
				Dairyland Seed Co., Inc.			Wisconsin	100
				Dow AgroSciences Argentina S.A. (22)			Argentina	11
				Duo Maize B.V.			Netherlands	100
				Mycogen S.A. de C.V. (4)			Mexico	1
				Mycogen Seeds-Puerto Rico Corporation			Delaware	100
				Pfister Seeds LLC			Delaware	100
				Renze Seeds LLC			Delaware	100
				Texas Triumph Seed Co., Inc.			Texas	100
					Monterey Seed Company, Inc.		Texas	100
		Phytogen Seed Company, LLC					Delaware	54
	Wenben Inc.						Delaware	100
Rohm and Haas Company							Delaware	100
	AgroFresh Inc.						Illinois	100
	Charles Lennig & Company LLC						Delaware	100
		Rohm and Haas Australia Pty. Ltd. (55)					Australia	1
		Rohm and Haas Chile Limitada. (56)					Chile	1
		Rohm and Haas Colombia Ltda (57)					Colombia	5
	Elemica Holdings Limited						Ireland	100
	Rohm and Haas Argentina S.R.L. (58)						Argentina	2
	Rohm and Haas Australia Pty. Ltd. (55)						Australia	99
	Rohm and Haas Chemicals LLC (59)						Delaware	23
		CVD Incorporated					Delaware	100
		Morton Intermediate Company					Delaware	100
			Rohm and Haas Electronic Materials Taiwan Ltd.				Taiwan	100
		Morton International Co., Ltd.					Japan	100
		Nichigo-Morton Co., Ltd. (1)					Japan	50
		Rohm and Haas Credit LLC					Delaware	100

181

Rohm and Haas (Bermuda), Ltd.										Bermuda	100
	Rohm and Haas China Investment Holding Company Ltd (60)									Mauritius	1
	Rohm and Haas Holdings Ltd. (61)									Bermuda	99
Rohm and Haas Capital Corporation										Delaware	100
Rohm and Haas Equity Corporation (62)										Delaware	83
	ROH Venture GmbH									Germany	100
		StoHaas Management GmbH (1)								Germany	50
		StoHaas Monomer GmbH & Co. KG (1)								Germany	50
	Rohm and Haas Asia, Inc.									Delaware	100
	Rohm and Haas Chemical (Thailand) Limited									Thailand	100
	Rohm and Haas China, Inc.									Delaware	100
		Beijing Eastern Rohm and Haas Company, Limited (BERHC)								China	60
		Rohm and Haas International Trading (Shanghai) Co. Ltd.								China	100
		Shanghai Eastern Rohm and Haas Company Ltd.								China	59
	Rohm and Haas Denmark Investments LLC									Delaware	100
		Rohm and Haas European Holding ApS (66)								Denmark	1
			Rohm and Haas Denmark A/S							Denmark	100
				Acima AG fur Chemische Industrie (67)						Switzerland	50
				Rohm and Haas (India) Pvt. Ltd. (68)						India	1
				Rohm and Haas China Investment Holding Company Ltd (60)						Mauritius	19
				Rohm and Haas Denmark Finance A/S						Denmark	100
					Acima AG fur Chemische Industrie (67)					Switzerland	50
					PT. Rohm and Haas Indonesia (69)					Indonesia	99
					RH Denmark Asia Plastics Additives Investment ApS					Denmark	100
						Weihai Jinhong Rohm and Haas Chemicals Co., Ltd				China	51
					RH DK ChemiHaas Holding ApS					Denmark	100
					RH DK Electronic Materials (Zhangjiagang) Holdings ApS					Denmark	100
					RH DK Korea FPD Holdings ApS					Denmark	100
						SKC Haas Display Films Co., Ltd.				Korea	51
							SKC Haas Display Films (USA) LLC			Delaware	100
							SKC Haas Display Films Japan K.K.			Japan	100
							SKC Haas Display Films Taiwan Ltd.			Taiwan	100
							SKC Haas Polska Sp.z o. o.			Poland	100
							SKC New Material (Suzhou) Co., Ltd.			China	100
					RH DK Korea OLED Holdings ApS					Denmark	100
						Dow Advanced Display Materials, Ltd.				Korea	100
					RH DK Mexico Holding ApS					Denmark	100
						Rohm and Haas Mexico, S. de R.L. de C.V. (70)				Mexico	99
					RH DK Monomer Investment ApS					Denmark	100
					RH DK Vietnam Holdings ApS					Denmark	100
						Rohm and Haas Vietnam Co., Ltd.				Vietnam	100
					Rohm and Haas (Shanghai) Specialty Coatings Investment ApS					Denmark	100
						Rohm and Haas (Shanghai) Specialty Coatings Co., Ltd.				China	100
					Rohm and Haas (UK) Holdings Ltd.					United Kingdom	100
						Morton International Limited				United Kingdom	100
							Rohm and Haas Electronic Materials Europe Ltd.			United Kingdom	100
								Shipley Chemicals Limited		United Kingdom	100
							Rohm and Haas UK Investment Ltd.			United Kingdom	100
								Rohm and Haas (UK) Limited		United Kingdom	100
									Lennig Chemicals Limited (1)	United Kingdom	50
									Rohm and Haas (Scotland) Limited	United Kingdom	100
									Rohm and Haas Electronic Materials AB	Sweden	100
									Rohm and Haas Electronic Materials Holdings UK Ltd.	United Kingdom	100
					Rohm and Haas Argentina S.R.L. (58)					Argentina	98
					Rohm and Haas Asia (Sanshui) Specialty Coatings Investment ApS					Denmark	100
						Rohm and Haas Foshan Specialty Materials Co., Ltd.				China	100
					Rohm and Haas Asia Investment Holding Co Ltd					Mauritius	100
					Rohm and Haas Bermuda Partner I GP (71)					Bermuda	46
						Rohm and Haas Denmark Bermuda GP ApS				Denmark	100

182

		Rohm and Haas Bermuda GP (72)							Bermuda	47
			Rohm and Haas Denmark Holding Company ApS						Denmark	100
				Rohm and Haas Denmark ER Finance ApS					Denmark	100
				Rohm and Haas Denmark European Investment ApS					Denmark	100
					Rohm and Haas Eastern Europe Holding ApS (73)				Denmark	99
						Finndisp Ltd.			Russia	100
						Limited Liability Company "Rohm and Haas"			Russia	100
						Rohm and Haas Polska Sp. z o.o.			Poland	100
					Rohm and Haas Europe Sales ApS				Denmark	100
					Rohm and Haas Europe Sarl				Switzerland	100
					Rohm and Haas Europe Services ApS				Denmark	100
					Rohm and Haas Europe Trading ApS (74)				Denmark	84
						RH Delaware Germany LLC			Delaware	100
						RH Switzerland Production Holding GmbH			Switzerland	100
							Rohm and Haas Electronic Materials Schweiz GmbH		Switzerland	100
								Rohm and Haas Electronic Materials Deutschland GmbH	Germany	100
								RH Deutschland Produktion Holding GmbH	Germany	100
								Rohm and Haas Deutschland Produktion GmbH & Co. KG	Germany	100
							Rohm and Haas Nordiska AB		Sweden	100
						Rohm and Haas South Africa (PTY) Limited			South Africa	100
					Rohm and Haas Kimya Sanayi Limited Sirketi (75)				Turkey	1
					Rohm and Haas Kimya Ticaret Limited Sirketi (76)				Turkey	1
					Rohm and Haas Turkey Distribution Holding ApS				Denmark	100
						Rohm and Haas Kimya Ticaret Limited Sirketi (76)			Turkey	99
						Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. (77)			Turkey	23
					Rohm and Haas Turkey Industry Holding ApS				Denmark	100
						Rohm and Haas Kimya Sanayi Limited Sirketi (75)			Turkey	99
						Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. (77)			Turkey	37
				Rohm and Haas Denmark Italia Production Holding ApS					Denmark	100
					Rohm and Haas Italia S.r.l.				Italy	100
				Rohm and Haas Eastern Europe Holding ApS (73)					Denmark	1
				Rohm and Haas Espana Production Holding, S.L.					Spain	100
					Rohm and Haas Espana, S.L.				Spain	100
				Rohm and Haas France Finance SAS					France	100
				Rohm and Haas International B.V.					Netherlands	100
					Morton Service B.V.				Netherlands	100
						Rohm and Haas B.V.			Netherlands	100
						Rohm and Haas Europe Trading ApS (74)			Denmark	16
				Rohm and Haas International SNC (78)					France	99
					RH France Production Holding SAS				France	100
						Rohm and Haas France S.A.S.			France	100
							Morton International S.A.S.		France	100
							Rohm and Haas Electronic Materials SAS		France	100
					Rohm and Haas France Investment SAS				France	100
						Rohm and Haas International SNC (78)			France	1
Rohm and Haas Bermuda Partner II GP (79)									Bermuda	99
	Rohm and Haas Bermuda GP (72)								Bermuda	53
Rohm and Haas Chemicals Singapore Pte. Ltd.									Singapore	100
Rohm and Haas China Holding ApS									Denmark	100
	Rohm and Haas (China) Holding Co., Ltd.								China	100
Rohm and Haas China Investment Holding Company Ltd (60)									Mauritius	80
Rohm and Haas Denmark Bermuda Holding Company ApS									Denmark	100
	RH Asia Holding GmbH								China	100
		Rohm and Haas Electronic Materials Asia Limited							Hong Kong	100
			RH Denmark Dongguan Holding Company ApS						Denmark	100
			Rohm and Haas Electronic Materials (Shanghai) Ltd.						China	100
			Rohm and Haas Electronic Materials Singapore Pte. Ltd. (80)						Singapore	50
			Rohm and Haas HK China Investments Limited						Hong Kong	100
		Rohm and Haas Electronic Materials Singapore Pte. Ltd. (80)							Singapore	50

183

								Rohm and Haas Bermuda Partner I GP (71)	Bermuda	53
							Rohm and Haas Denmark China Investment ApS		Denmark	100
								PT. Rohm and Haas Indonesia (69)	Indonesia	1
								Rohm and Haas Bermuda Partner I GP (71)	Bermuda	1
								Rohm and Haas Bermuda Partner II GP (79)	Bermuda	1
								Rohm and Haas Latinoamerica, S. DE R.L. DE C.V. (81)	Mexico	1
								Rohm and Haas Mexico, S. de R.L. de C.V. (70)	Mexico	1
								Rohm and Haas Shanghai Chemical Industry Co.,  Ltd.	China	100
							Rohm and Haas Finland Oy		Finland	100
							Rohm and Haas HK Dongguan Holding Limited		Hong Kong	100
								Rohm and Haas Electronic Materials Dongguan Ltd.	China	100
							Rohm and Haas India Investment ApS		Denmark	100
								Rohm and Haas (India) Pvt. Ltd. (68)	India	99
							Rohm and Haas Latinoamerica, S. DE R.L. DE C.V. (81)		Mexico	99
							Rohm and Haas Nederland B.V.		Netherlands	100
							Rohm and Haas Singapore (Pte.) Ltd.		Singapore	100
			Rohm and Haas European Holding ApS (66)						Denmark	99
			Rohm and Haas German Real Estate GmbH						Germany	100
			Rohm and Haas Korea Co., Ltd.						Korea	100
			Rohm and Haas Luxembourg Holding S.a.r.l.						Luxembourg	100
				Rohm and Haas Canada Finance Company/Compagnie de Finance Rohm et Haas Canada					Canada	100
					Rohm and Haas Canada Holdings LP (63)				Canada	99
						Rohm and Haas Canada LP (64)			Canada	99
							Rohm and Haas Canada Capital Inc.		Canada	100
					Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc.				Canada	100
						Rohm and Haas Canada Holdings LP (63)			Canada	1
						Rohm and Haas Canada LP (64)			Canada	1
					Rohm and Haas Texas Incorporated				Texas	100
						Battleground Water Company (82)			Texas	52
						ROH Monomer Holding Company			Delaware	100
						Rohm and Haas Investment Holdings Inc. (65)			Delaware	27
			Rohm and Haas Malaysia Sdn Bhd						Malaysia	100
		Rohm and Haas Holdings Ltd. (61)							Bermuda	1
	Rohm and Haas Equity Corporation (62)								Delaware	12
	Rohm and Haas Wood Treatment LLC								Delaware	100
	TM Holdings YK								Japan	100
		Toyo-Morton, Limited (1)							Japan	50
Rohm and Haas Chile Limitada. (56)									Chile	99
Rohm and Haas Colombia Ltda (57)									Colombia	95
Rohm and Haas de Venezuela, C.A.									Venezuela	100
Rohm and Haas Electronic Materials K.K.									Japan	100
	LeaRonal Japan Y.K.								Japan	100
	Rohm and Haas Japan Kabushiki Kaisha								Japan	100
		Japan Acrylic Chemical Co., Ltd.							Japan	100
Rohm and Haas Equity Corporation (62)									Delaware	2
Rohm and Haas Holdings LLC									Delaware	100
	Rohm and Haas Chemicals LLC (59)								Delaware	76
	Rohm and Haas Electronic Materials Holdings, Inc.								Delaware	100
		Rohm and Haas Electronic Materials CMP Inc.							Delaware	100
			Rohm and Haas Electronic Materials CMP Asia Inc.						Delaware	80
				Nitta Haas Trading Company					Japan	100
				Rohm and Haas Electronic Materials CMP Korea Ltd.					Korea	100
				Rohm and Haas Electronic Materials CMP Sdn. Bhd.					Malaysia	100
			Rohm and Haas Electronic Materials CMP Europe GmbH						Germany	100
			Rohm and Haas Electronic Materials CMP Holdings, Inc.						Delaware	100
			Rohm and Haas International Holdings Inc.						Delaware	100
				Rohm and Haas Asia Holdings B.V.					Netherlands	100
					Rohm and Haas Asia Taiwan Holdings B.V.				Netherlands	100
					Rohm and Haas Electronic Materials Asia-Pacific Co., Ltd.				Taiwan	100

184

					Rohm and Haas Electronic Materials BV			Netherlands	100
						Rohm and Haas Electronic Materials Korea Ltd.		Korea	100
					Styron Japan Y.K.			Japan	100
					Rohm and Haas Japan Holdings Y.K.			Japan	100
						Nitta Haas Incorporated (1)		Japan	50
							Rodel Particles, Inc.	Japan	100
					Rohm and Haas Taiwan, Inc.			Taiwan	100
			Rohm and Haas Electronic Materials LLC					Delaware	100
				Rohm and Haas Equity Corporation (62)				Delaware	3
		Rohm and Haas Latin America, Inc.						Delaware	100
			Rohm and Haas Chemicals LLC (59)					Delaware	1
	Rohm and Haas Investment Holdings Inc. (65)							Delaware	64
	Rohm and Haas New Zealand Limited							New Zealand	100
	Rohm and Haas Philippines, Inc.							Philippines	100
	Rohm and Haas Quimica Ltda.							Brazil	100
	Rohm and Haas Southeast Asia, Inc.							Delaware	100
	Rohm and Haas Vermont Company							Vermont	100
	RohmNova LLC (1)							Delaware	50
	Silicon Valley Chemical Laboratories Inc.							California	80
Sentrachem US, Inc.								Delaware	100
	Hampshire Holdings, Inc.							Delaware	100
		Hampshire Chemical Corp.						Delaware	100
Siam Polystyrene Company Limited (1)								Thailand	50
Siam Styrene Monomer Co., Ltd. (1)								Thailand	50
Siam Synthetic Latex Company Limited (1)								Thailand	50
Styron Asia Limited								Hong Kong	100
Sumitomo Dow Limited (1)								Japan	50
TCM Technologies Inc.								Delaware	100
Texas LNG Holdings LLC								Delaware	100
Union Carbide Corporation								New York	100
	Amerchol Corporation							Delaware	100
	Benefit Capital Management Corporation							Delaware	100
	Calidria Corporation							Delaware	100
	Carbide Chemical (Thailand) Limited							Thailand	100
		Excellent Quality (Thailand) Company Limited						Thailand	100
	Catalysts, Adsorbents & Process Systems, Inc.							Maryland	100
	DML Holding Inc. (36)							Delaware	11
	Dow International Holdings Company (27)							Delaware	19
	Dow Petrochemicals Holding LLC (48)							Delaware	25
	Dow Quimica Argentina S.A. (25)							Argentina	23
	Dow Quimica Mexicana S.A. de C.V. (21)							Mexico	15
	Dow Venezuela, C.A. (7)							Venezuela	10
	Global Industrial Corporation							New York	100
	GWN Holding, Inc. (37)							Delaware	7
	Industrias Carlisil, S.A.							Mexico	100
	KTI Chemicals, Inc.							Delaware	100
	Modeland International Holdings Inc. (28)							Barbados	41
	Nippon Unicar Company Limited (1)							Japan	50
	P.T. Union Carbide Indonesia							Indonesia	100
	Penuelas Technology Park LLC							Delaware	100
	Seadrift Pipeline Corporation							Delaware	100
	Servicios de Quimicos Agricolas, S. A.							Mexico	100
	South Charleston Sewage Treatment Company							West Virginia	100
	UC Finco Inc.							Delaware	100
	UCAR Emulsion Systems International, Inc.							Delaware	100
		UCAR Emulsion Systems FZE						Dubai	100
	UCAR Interam Inc.							Delaware	100
	UCAR Louisiana Pipeline Company							Delaware	100
	UCAR Pipeline Incorporated							Delaware	100

185

	UCMG LLC		Delaware	100
	Umetco Minerals Corporation		Delaware	100
		Australia and New Zealand Exploration Company	Delaware	100
		Blue Creek Coal Company, Inc.	Delaware	100
		Predate Properties (Pty) Ltd.	South Africa	100
		Umetco Minerals Exploration Corporation	Delaware	100
	Union Carbide Asia Limited		Hong Kong	100
		Union Carbide (Guangdong Zhongshan) Company Limited	China	75
	Union Carbide Asia Pacific, Inc.		Delaware	100
	Union Carbide Chemicals & Plastics Technology LLC		Delaware	100
		Dow Petrochemicals Holding LLC (48)	Delaware	25
		Dow Technology Investments LLC (43)	Delaware	50
	Union Carbide Comercial Nicaragua, S.A.		Nicaragua	100
	Union Carbide Customer Services Pte. Ltd.		Singapore	100
	Union Carbide Ethylene Oxide/Glycol Company		Delaware	100
	Union Carbide Inter-America, Inc.		Delaware	100
		Dow Quimica Chilena S.A. (26)	Chile	10
		Productos Quimicos Peruanos S.A. (30)	Peru	9
	Union Carbide Middle East Limited		Delaware	100
	Union Carbide Pan America, Inc.		Delaware	100
		Dow Quimica Argentina S.A. (25)	Argentina	1
		Dow Quimica Chilena S.A. (26)	Chile	1
	Union Carbide Philippines (Far East), Inc.		Philippines	100
	Union Carbide Polyolefins Development Company, Inc.		Delaware	100
	Union Carbide South Africa (Proprietary) Limited		South Africa	100
	Union Carbide Subsidiary C, Inc.		Delaware	100
		Univation Technologies, LLC (1)	Delaware	50
	Union Carbide Subsidiary Q Inc.		Delaware	100
	Union Carbide Wire & Cable Company, Inc.		Delaware	100
	Union Polymers Sdn. Bhd.		Malaysia	90
	UNISON Transformer Services, Inc.		Delaware	100
	Westbridge Insurance Ltd.		Bermuda	100
U.S. Laboratories, Inc.			Ohio	100
	Administrative Business Systems, Inc.		Ohio	100
	Poly-Carb, Inc.		Ohio	100
Warbler I LLC			Delaware	100
Yokkaichi MDI Limited			Japan	100
*Location of incorporation or organization.  Primary location of organization is reported for partnerships.

186

(1)	These companies are 50%-owned, nonconsolidated affiliates of The Dow Chemical Company and are accounted for on the equity basis. Separate financial statements for these companies are not included in this Form 10-K. These companies are not controlled, directly or indirectly, by The Dow Chemical Company. Subsidiaries of these companies, if any, are not listed in this Exhibit 21.
(2)	The Dow Chemical Company effective ownership of Dow Mideast Systems S.A.E. (JSC) is 100% of which Dow Europe Holding B.V. owns 99.96%, Dow Europe GmbH owns 0.020% and Dow InterBranch B.V. owns 0.020%.
(3)	The Dow Chemical Company effective ownership of Dow Turkiye Kimya Sanayi ve Ticaret Ltd Sirketi is 100% of which Dow Europe Holding B.V. owns 99.9988% and Dow InterBranch B.V. owns 0.0012%.
(4)	The Dow Chemical Company effective ownership of Mycogen S.A. de C.V. is 100% of which Mycogen Crop Protection, Inc. owns 99% and Agrigenetics, Inc. owns 1%.
(5)	The Dow Chemical Company effective ownership of Dow Quimica de Colombia S.A. is 100% of which The Dow Chemical Company owns 90% and Dow Chemical Inter-American Limited owns 10%.
(6)	The Dow Chemical Company effective ownership of DowBrands L.P. is 100% of which Dow Holdings LLC owns 58% and DC Partnership Management Inc. owns 42%.
(7)	The Dow Chemical Company effective ownership of Dow Venezuela, C.A. is 100% of which Dow AgroSciences B.V. owns 53.84%, The Dow Chemical Company owns 36.06% and Union Carbide Corporation owns 10.1%.
(8)	The Dow Chemical Company effective ownership of Chemtech II L.P. is 100% of which Dow Chemical Delaware Corp. owns 72.46%, The Dow Chemical Company owns 22.39% and Ifco Inc. owns 5.15%.
(9)	The Dow Chemical Company effective ownership of Dow AgroSciences LLC is 100% of which Mycogen Corporation owns 51%, Centen Ag Inc. owns 38.91% and Rofan Services Inc. owns 10.09%.
(10)	The Dow Chemical Company effective ownership of Polyol Belgium B.V.B.A. is 100% of which Dow Benelux B.V. owns 99.5% and Dow Europe Holding B.V. owns 0.5%.
(11)	The Dow Chemical Company effective ownership of Chemtech Portfolio Inc. is 100% of which Dow Global Technologies Inc. owns 66.82% and Chemtech II L.P. owns 33.18% .
(12)	The Dow Chemical Company effective ownership of Dow S/B Latex (Zhangjiagang) Co. Ltd. is 100% of which Dow Chemical (China) Investment Company Limited owns 61.16% and Styron Holdings Asia Pte. Ltd. owns 38.84%.
(13)	The Dow Chemical Company effective ownership of Dow Chemical (Zhangjiagang) Company Limited is 100% of which Dow Chemical (China) Investment Company Limited owns 85.36% and Styron Holdings Asia Pte. Ltd. owns 14.64%.
(14)	The Dow Chemical Company effective ownership of Fort Saskatchewan Ethylene Storage Limited Partnership is 50% of which Dow Chemical Canada ULC owns 49.9% and Fort Saskatchewan Ethylene Storage Corporation owns 0.2%. (Midland Pipeline Corp. owns 50% of Fort Saskatchewan Ethylene Storage Corporation.)
(15)	The Dow Chemical Company effective ownership of SAL Petrochemical (Zhangjiagang) Company Limited is 100% of which Styron Holdings Asia Pte. Ltd. owns 90% and Dow Chemical (China) Investment Company Limited owns 10%.
(16)	The Dow Chemical Company effective ownership of Mycogen Corporation is 100% of which Rofan Services Inc. owns 88.11% and Centen Ag Inc. owns 11.89%.
(17)	The Dow Chemical Company effective ownership of DowBrands Inc. is 100% of which Dow International Holdings Company owns 79%, Mycogen Corporation owns 11%, Centen Ag Inc. owns 8% and Rofan Services Inc. owns 2%.
(18)	The Dow Chemical Company effective ownership of PT Dow Chemical Indonesia is 100% of which The Dow Chemical Company owns 84.5991% and Dow Chemical Pacific (Singapore) Private Limited owns 15.4009%.
(19)	The Dow Chemical Company effective ownership of Dow AgroSciences Hungary Kft. is 100% of which Dow AgroSciences Switzerland S.A. owns 99.97% and Dow AgroSciences Polska Sp z.o.o. owns 0.03%.
(20)	The Dow Chemical Company effective ownership of Ion Holdings LLC is 100% of which The Dow Chemical Company owns 60% and Rofan Services Inc. owns 40%.
(21)	The Dow Chemical Company effective ownership of Dow Quimica Mexicana S.A. de C.V. is 100% of which The Dow Chemical Company owns 84.58% and Union Carbide Corporation owns 15.42%.
(22)	The Dow Chemical Company effective ownership of Dow AgroSciences Argentina S.A. is 100% of which Dow AgroSciences B.V. owns 89.13% and Agrigenetics, Inc. owns 10.87%.
(23)	The Dow Chemical Company effective ownership of Dexco Polymers LP is 50% of which DW Dexco Investment LLC owns 49.5% and Dexco Polymers Operating Company LLC owns 1%. (The Dow Chemical Company owns 50% of Dexco Polymers Operating Company LLC).
(24)	The Dow Chemical Company effective ownership of Dow Zwijndrecht B.V.B.A. is 100% of which Dow Europe Holding B.V. owns 99.65% and Dow InterBranch B.V. owns 0.35%.
(25)	The Dow Chemical Company effective ownership of Dow Quimica Argentina S.A. is 100% of which The Dow Chemical Company owns 76.70%, Union Carbide Corporation owns 23.20% and Union Carbide Pan America, Inc. owns 0.10%.

187

(26)	The Dow Chemical Company effective ownership of Dow Quimica Chilena S.A. is 100% of which The Dow Chemical Company owns 89.81%, Union Carbide Inter-America, Inc. owns 10.16% and Union Carbide Pan America, Inc. owns 0.03%.
(27)	The Dow Chemical Company effective ownership of Dow International Holdings Company is 100% of which The Dow Chemical Company owns 72.0268%, Union Carbide Corporation owns 19.1341%, Essex Specialty Products LLC owns 8.7988% and Dow Chemical International Ltd owns 0.0403%.
(28)	The Dow Chemical Company effective ownership of Modeland International Holdings Inc. is 100% of which Dow Chemical Finance Canada ULC owns 59.1% and Union Carbide Corporation owns 40.9%.
(29)	The Dow Chemical Company effective ownership of Dow Hungary Kft. is 100% of which Dow Europe Holding B.V. owns 99.98% and Dow InterBranch B.V. owns 0.02%.
(30)	The Dow Chemical Company effective ownership of Productos Quimicos Peruanos S.A. is 100% of which The Dow Chemical Company owns 91.21% and Union Carbide Inter-America, Inc. owns 8.79%.
(31)	The Dow Chemical Company effective ownership of Valuepark Terneuzen C.V. is 50% of which Terneuzen Partnership Services B.V. owns 49.82% and Valuepark Terneuzen Beheer B.V. owns 0.36%. (Dow Benelux B.V. owns 50% of Valuepark Terneuzen Beheer BV).
(32)	The Dow Chemical Company effective ownership of Dow Chemical International Pvt. Ltd. is 100% of which Dow Chemical Pacific (Singapore) Private Limited owns 99.99% and Dow Chemical (Singapore) Private Limited owns 0.01%.
(33)	The Dow Chemical Company effective ownership of Dow AgroSciences India Pvt. Ltd. is 100% of which Dow AgroSciences Agricultural Products Limited owns 99.99% and DAS Agricultural Investment Holding Company Ltd. owns 0.01%.
(34)	The Dow Chemical Company effective ownership of PBBPolisur S.A. is 100% of which Dow Investment Argentina S.A. owns 72% and 3229809 Nova Scotia Company owns 28%.
(35)	The Dow Chemical Company effective ownership of Dow Stade Produktions GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and ANGUS Chemie GmbH owns 30%. Dow Europe Holding B.V acts as a general partner with 0% capital participation.
(36)	The Dow Chemical Company effective ownership of DML Holding Inc. is 100% of which The Dow Chemical Company owns 88.84% and Union Carbide Corporation owns 11.16%.
(37)	The Dow Chemical Company effective ownership of GWN Holding, Inc. is 100% of which The Dow Chemical Company owns 66.23%, Essex Specialty Products LLC owns 26.93% and Union Carbide Corporation owns 6.84%.
(38)	The Dow Chemical Company effective ownership of Dow AgroSciences Bolivia S.A. is 100% of which Dow AgroSciences B.V. owns 99%, Dow AgroSciences Argentina S.A. owns 0.5% and Dow AgroSciences Paraguay S.A. owns 0.5%.
(39)	The Dow Chemical Company effective ownership of Dow AgroSciences Paraguay S.A. is 100% of which Dow AgroSciences B.V. owns 99.99% and Dow AgroSciences Argentina S.A. owns 0.01%.
(40)	The Dow Chemical Company effective ownership of Dow Chemical Korea Limited is 100% of which The Dow Chemical Company owns 85.82% and Dow Europe Holding B.V. owns 14.18%.
(41)	The Dow Chemical Company effective ownership of Dow Saudi Arabia Company is 100% of which Dow Europe Holding B.V. owns 85% and Dow Interbranch B.V. owns 15%.
(42)	The Dow Chemical Company effective ownership of Dow Wolff Cellulosics GmbH & Co. OHG is 100% of which ANGUS Chemie GmbH owns 50% and SAFECHEM Europe GmbH owns 50%. Dow Europe Holding B.V. acts as general partner with 0% capital participation.
(43)	The Dow Chemical Company effective ownership of Dow Technology Investments LLC is 100% of which Dow Global Technologies Inc. owns 50% and Union Carbide Chemicals & Plastics Technology LLC owns 50%.
(44)	The Dow Chemical Company effective ownership of DC Spectrum Holding C.V. is 100% of which Dow International Holdings Company owns 99.999% and Dow Netherlands Holdings LLC owns 0.001%.
(45)	The Dow Chemical Company effective ownership of Cooperatieve DC Prisma Holding U.A. is 100% of which DC Spectrum Holding C.V. owns 99.999% and Dow Netherlands Investments LLC owns .001%.
(46)	The Dow Chemical Company effective ownership of DC Galaxy Holding C.V. is 100% of which Dow International Holdings S.A. owns 99.928% and Dow Dutch Holding B.V. owns 0.072%.
(47)	The Dow Chemical Company effective ownership of Pacific Plastics (Thailand) Limited is 100% of which Dow Chemical International Ltd. owns 51% and The Dow Chemical Company owns 49%.
(48)	The Dow Chemical Company effective ownership of Dow Petrochemicals Holding LLC is 100% of which The Dow Chemical Company owns 25%, Dow Global Technologies Inc. owns 25%, Union Carbide Corporation owns 25% and Union Carbide Chemicals & Plastics Technology LLC owns 25%.

188

(49)	The Dow Chemical Company effective ownership of Dow Egypt Services Limited is 100% of which Dow Mideast Systems S.A.E. (JSC) owns 75% and Dow Europe GmbH owns 25%.
(50)	The Dow Chemical Company effective ownership of Dow Olefinverbund GmbH is 100% of which Dow Europe Holding B.V. owns 95% and Dow Beteiligungsgesellschaft mbH & Co. KG owns 5%.
(51)	The Dow Chemical Company effective ownership of Dow Izolan OOO is 58% via its ownership interest in RUS Polyurethanes Holding B.V.
(52)	The Dow Chemical Company effective ownership of Dow Izolan Ukraine LLC is 58% via its ownership interest in RUS Polyurethanes Holding B.V.
(53)	The Dow Chemical Company effective ownership of K-D Petrochemicals C.V. is 50% of which Daulat Holdco LLC owns .00058011%, Dow Plastics and Chemicals Holding B.V. owns .00058011%, Daulat Canada Holding LP owns .00058011% and K-Dow Petrochemicals GmbH owns 99.99651933% (Dow Petrochemicals Holding LLC owns 50% of K-Dow Petrochemicals GmbH.)
(54)	The Dow Chemical Company effective ownership of Dow Investment Argentina S.A. is 100% of which 3229809 Nova Scotia Company owns 97% and Daulat Canada Holding LP owns 3%.
(55)	The Dow Chemical Company effective ownership of Rohm and Haas Australia Pty. Ltd. is 100% of which Rohm and Haas Company owns 99.999867% and Charles Lennig & Company LLC owns .000133%.
(56)	The Dow Chemical Company effective ownership of Rohm and Haas Chile Limitada. is 100% of which Rohm and Haas Company owns 99% and Charles Lennig & Company LLC owns 1%.
(57)	The Dow Chemical Company effective ownership of Rohm and Haas Colombia Ltda is 100% of which Rohm and Haas Company owns 94.899867% and Charles Lennig & Company LLC owns 5.100133%.
(58)	The Dow Chemical Company effective ownership of Rohm and Haas Argentina S.R.L. is 100% of which Rohm and Haas Denmark Finance A/S owns 98.15394% and Rohm and Haas Company owns 1.84606%.
(59)	The Dow Chemical Company effective ownership of Rohm and Haas Chemicals LLC is 100% of which Rohm and Haas Holdings LLC owns 76.80153%, Rohm and Haas Company owns 23.13014% and Rohm and Haas Latin America, Inc. owns .06833%.
(60)	The Dow Chemical Company effective ownership of Rohm and Haas China Investment Holding Company Ltd is 100% of which Rohm and Haas Denmark Finance A/S owns 80.17805%, Rohm and Haas Denmark A/S owns 19.821944% and Rohm and Haas (Bermuda), Ltd. owns .000006%.
(61)	The Dow Chemical Company effective ownership of Rohm and Haas Holdings Ltd. is 100% of which Rohm and Haas (Bermuda), Ltd. owns 99.971725% and Rohm and Haas Credit LLC owns .028275%.
(62)	The Dow Chemical Company effective ownership of Rohm and Haas Equity Corporation is 100% of which Rohm and Haas Credit LLC owns 82.731264%, Rohm and Haas Chemicals LLC owns 12.666042%, Rohm and Haas Electronic Materials LLC owns 3.031015% and Rohm and Haas Company owns 1.571679%.
(63)	The Dow Chemical Company effective ownership of Rohm and Haas Canada Holdings LP is 100% of which Rohm and Haas Canada Finance Company owns 99.99% and Rohm and Haas Canada Investments Inc. owns .01%.
(64)	The Dow Chemical Company effective ownership of Rohm and Haas Canada LP is 100% of which Rohm and Haas Canada Holdings LP owns 99.99% and Rohm and Haas Canada Investments Inc. owns .01%.
(65)	The Dow Chemical Company effective ownership of Rohm and Haas Investments Holdings Inc. is 90.909% of which Rohm and Haas Company owns 63.6363% and Rohm and Haas Texas Incorporated owns 27.2727%.
(66)	The Dow Chemical Company effective ownership of Rohm and Haas European Holding ApS is 100% of which Rohm and Haas Equity Corporation owns 99.999347% and Rohm and Haas Denmark Investments LLC owns .000653%.
(67)	The Dow Chemical Company effective ownership of Acima AG fur Chemische Industrie is 100% of which Rohm and Haas Denmark A/S is 50% and Rohm and Haas Denmark Finance A/S is 50%.
(68)	The Dow Chemical Company effective ownership of Rohm and Haas (India) Pvt. Ltd. is 100% of which Rohm and Haas India Investment ApS owns 99.994393% and Rohm and Haas Denmark A/S owns .005607%.
(69)	The Dow Chemical Company effective ownership of PT. Rohm and Haas Indonesia is 100% of which Rohm and Haas Denmark Finance A/S owns 99% and Rohm and Haas Denmark China Investment ApS is 1%.
(70)	The Dow Chemical Company effective ownership Rohm and Haas Mexico, S. de R.L. de C.V. is 100% of which RH DK Mexico Holding ApS is 99.999999% and Rohm and Haas Denmark China Investment ApS is .000001%.
(71)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda Partner I GP is 100% of which Rohm and Haas Denmark Bermuda Holding Company ApS owns 53.751817%, Rohm and Haas Denmark Finance A/S owns 46.248181% and Rohm and Haas Denmark China ApS owns .000002%.
(72)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda GP is 100% of which Rohm and Haas Bermuda Partner II GP is 53.751818% and Rohm and Haas Denmark Bermuda GP ApS is 47.196102%.

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(73)	The Dow Chemical Company effective ownership of Rohm and Haas Eastern Europe Holding ApS is 100% of which Rohm and Haas Denmark European Investment ApS is 99.982308% and Rohm and Haas Denmark Holding Company ApS owns 0.017692%.
(74)	The Dow Chemical Company effective ownership of Rohm and Haas Europe Trading ApS is 100% of which Rohm and Haas Denmark European Investment ApS is 84.168012% and Morton Service B.V. owns 15.831988%.
(75)	The Dow Chemical Company effective ownership of Rohm and Haas Kimya Sanayi Limited Sirketi is 100% of which Rohm and Haas Turkey Industry Holding ApS is 99.92% and Rohm and Haas Denmark European ApS owns .08%.
(76)	The Dow Chemical Company effective ownership of Rohm and Haas Kimya Ticaret Limited Sirketi is 100% of which Rohm and Haas Turkey Distribution Holding ApS is 99.99875% and Rohm and Haas Denmark European ApS owns .00125%.
(77)	The Dow Chemical Company effective ownership of Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. is 60% of which Rohm and Haas Turkey Industry Holding ApS owns 36.66667% and Rohm and Haas Turkey Distribution Holding ApS owns 23.33333%.
(78)	The Dow Chemical Company effective ownership of Rohm and Haas International SNC is 100% of which Rohm and Haas Denmark Holding Company ApS owns 99.999996% and Rohm and Haas France Investment SAS owns .000004%.
(79)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda Partner II GP is 100% of which Rohm and Haas Denmark Finance A/S owns 99.999999% and Rohm and Haas Denmark China Investment ApS owns .000001%.
(80)	The Dow Chemical Company effective ownership of Rohm and Haas Electronic Materials Singapore Pte. Ltd. is 100% of which Rohm and Haas Electronic Materials Asia Limited owns 50% and RH Asia Holding GmbH owns 50%.
(81)	The Dow Chemical Company effective ownership of Rohm and Haas Latinoamerica, S. DE R.L. DE C.V. is 100% of which Rohm and Haas Denmark Finance A/S owns 99.999999% and Rohm and Haas Denmark China Investment ApS owns .000001%.
(82)	The Dow Chemical Company effective ownership of Battleground Water Company is 60.61% of which Rohm and Haas Texas Incorporated owns 51.77% and The Dow Chemical Company owns 8.84%.
(83)	The Dow Chemical Company effective ownership of Dow MF Produktion GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and Haltermann Products GmbH owns 30%. Dow Europe Holding B.V acts as a general partner with 0% capital participation.
(84)	The Dow Chemical Company effective ownership of Siam Polyethylene Company Limited is 50% of which Daulat Canada Holding LP owns 49% and SD Group Service Co. Ltd., which is 50%-owned by The Dow Chemical Company, owns 2%.
(85)	The Dow Chemical Company effective ownership of Dow Deutschland Vertriebs GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and Dow Deutschland Vertriebs GmbH owns 30%. Dow Europe Holding B.V acts as a general partner with 0% capital participation.
(86)	The Dow Chemical Company effective ownership of Dow International Holdings S.A. is 100% of which Dow Dutch Holding B.V. owns 99.824% and Dow Chemical International Ltd. owns 0.176%.

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