**Contact**: Jarrod Erpelding (Dow Corning)

> 989.496.1582\
> Jarrod.Erpelding@dowcorning.com
>
> **Date**: EMBARGO: 10:00 a.m. -- December 15, 2008

**[Dow Corning Announces Multi-Billion Dollar Investments to\
Serve Emerging Global Solar Power Industry\
]{.underline}***Investment provides critical raw materials to solar cell
manufacturers*

**Hemlock, Mich. and Clarksville, Tenn. (U.S.A.) ---** Dow Corning
Corporation announced today several billion dollars of investment to
provide critical materials to the fast-growing solar technology
industry.

"Dow Corning and our Hemlock Semiconductor joint ventures hope to create
a viable solar industry that produces new, high paying jobs, clean power
technologies and a revitalized economy," said Stephanie A. Burns, Dow
Corning's chairman, president and CEO.  "We're committing our resources,
know-how and technology because we are confident that solar technology
represents a tremendous opportunity for both clean energy and economic
growth."

Dow Corning will begin manufacturing high purity monosilane, a
key specialty gas used to manufacture thin-film solar cells and liquid
crystal displays (LCDs). This investment includes construction of a new
monosilane manufacturing facility in Hemlock, Michigan, adjacent to
Hemlock Semiconductor Corporation's polysilicon manufacturing site.

 "This significant investment to become a leading supplier of monosilane
for thin film solar technology will expand our feedstock offering and
will further reinforce our position as a value-added material supplier
to the solar industry," said Eric Peeters, global executive director, of
Dow Corning Solar Solutions.

The investment also includes up to \$3.0 billion at Dow Corning joint
ventures Hemlock Semiconductor Corporation and Hemlock Semiconductor
LLC. The companies will expand Hemlock Semiconductor Corporation's
existing Michigan manufacturing facility and build a new site in
Clarksville, Tennessee to increase manufacturing capacity for
polycrystalline silicon (polysilicon) -- the cornerstone material used
to manufacture most solar cells.

Construction of both the polysilicon expansions and the new monosilane
site will begin immediately.

These announcements solidify Dow Corning's significant role in the
development of the two most common types of solar cells;
crystalline-based and thin-film solar cells.  Crystalline-based solar
cells use sliced polysilicon as its main semi-conducting material. 
Thin-film solar cells are made by depositing a thin film of silicon,
enabled by monosilane, onto a sheet of another material such as glass.

"The opportunity and need for solar energy is so great, there will be a
need for many solar technologies to flourish to meet global demand,"
said Peeters.  "Dow Corning intends to offer options across the entire
array of solar technologies, allowing our customers to innovate freely."

Other recent solar-related announcements by Dow Corning include:

·       In September 2008, Dow Corning introduced a manufacturing
process featuring new developmental silicone materials - Dow Corning^®^
PV-6100 Encapsulant series - that significantly increases the production
rate of solar panels, effectively lowering the cost per watt of solar
power. 

·       In June 2008, Hemlock Semiconductor Corporation announced the
start-up of 9,000 metric tons of capacity at its newest polysilicon
facility located at the company's Hemlock site.  That expansion was part
of a \$500 million phased investment announced in 2005 and 2006. 
Hemlock Semiconductor Corporation's annual capacity will be
approximately 19,000 metric tons by the end of 2008, and the Hemlock
Semiconductor group plans to bring up to 10,000 metric tons of capacity
online each year until the completion of these announced expansions.

·       In May 2008, Dow Corning opened its Solar Solutions Application
Center in Freeland, Michigan (U.S.), to enable collaboration with
customers to develop, evaluate and pilot materials solutions used to
manufacture solar panels. The \$3 million, 27,000-square foot,
state-of-the-art facility represents Dow Corning's intention to be an
active, eager partner with researchers, producers and governments as we
help develop affordable and efficient solar energy for the global energy
market.

·       In 2007, Dow Corning's joint venture, Hemlock Semiconductor
Corporation announced the largest expansion in the history of the
polycrystalline silicon industry -- \$1 billion over the next four years
to increase its polycrystalline silicon capacity by 90 percent.

·       In 2006, Dow Corning introduced PV 1101 Solar Grade
Silicon---the first commercially available metallurgical feedstock
produced using large-scale manufacturing processes---which can be
blended with polysilicon to offer options to solar industry innovators.

[**Dow Corning** **Corporation**]{.underline}
([[www.dowcorning.com]{.underline}](http://www.dowcorning.com/))
provides performance-enhancing solutions to serve the diverse needs of
more than 25,000 customers worldwide. A global leader in
[[silicones]{.underline}](http://www.dowcorning.com/content/discover.asp),
silicon-based technology and innovation, Dow Corning offers more than
7,000 products and services via the company's\
DOW CORNING® and XIAMETER® brands. Dow Corning is a joint venture
equally owned by The Dow Chemical Company and Corning, Incorporated.
More than half of Dow Corning's annual sales are outside the United
States.

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NOTE TO EDITORS:  Interviews with Dow Corning and the Hemlock
Semiconductor group personnel available upon request.  Pictures
available by contacting Jarrod Erpelding of Dow Corning.

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