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Ref: MDI f 0 -812009 To: The Dow Chemical Company 2030 Dow Center Midland, Michigan USA 48674 FAO: Charles J. KalilIKenneth D. Isley Shearman & Sterling LLP 599 Lexington Avenue New York, NY 10022 USA FAO: George Casey cc:

8" February, 2009

Dear Sirs Joint Venture Formation Agreement between Petrochemical Industries Company (K.S.C.) ("PIC") and The Dow Chemical Company ("Dow") dated 28 November 2008

I refer to our previous correspondence concerning the postponement of Closing. I have not received a response from you to my letter of 15 January 2009 concerning the employees of the Business; nor have you responded to the request in my letter dated 4 January 2009 for Dow's assistance in persuading the Council of Ministers and SPC to reverse their decision. Please may I have a response from you to these letters. We have not yet received a response from the Minister of Oil to the letter that I forwarded to you on 9 January 2009. We believe that the reply may have been delayed by the recent appointment of a new Minister of Oil. We will inform you once we have received a response. In the meantime, I enclose a copy of a letter from the Council of Ministers to the Minister of Oil replacing, and correcting a misquotation in, the letter of 28 December 2008 between the same parties (I sent the previous version of this letter to you on 15 January 2009).

P.O.Box 1084 Safat, 13011 - Kuwait, Tel.: (965) 3211112 3211111 - Fax : (965) 3211129
E-mail : mahah@pic.com.kw

I look forward to meeting Mr. Juan Luciano and Mr. Raja Zaidan in London on 10 February 2009 to try to resolve this dispute, in accordance with the Umbrella Arbitration Agreement. As we have agreed, that meeting will be held without lawyers and, I suggest, on a "without prejudice" basis.

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Yours sincerely

cc: Ashurst LLP

Attention: Geoffrey Picton-Turbervill encl: copy of letter as above

STATE OF Kli-V\IAIT
COUNCIL OF MINISTERS GENERAL SECRETARIAT

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