DOW AND AMERICAN ELECTRIC POWER REACH AGREEMENT TO DEVELOP NEW COGENERATION PLANT TO SERVE DOW IN PLAQUEMINE, LA. AEP TO SELL OUTPUT TO TRACTEBEL

The 900-megawatt, natural gas-fired power plant, which was announced in June of last year, will provide steam to Dow´s Plaquemine facility as well as meet some of Dow’s electric power needs. Construction of the $325 million plant is expected to begin in 2001, with start-up scheduled for early 2003.

The facility will be developed by AEP, constructed by AEP subsidiary AEP Pro Serv^SM and operated by Dow. In addition, AEP has reached a 20-year agreement to sell up to 900 MW from the Dow facility to Tractebel Energy Marketing, Inc., subsidiary of Belgian energy and services concern, Tractebel S.A.

“This project is another example of AEP’s ability to successfully link its technical and commercial skills to meet our customers’ needs,” said Paul Addis, executive vice president for AEP. “This new facility will bring generating capacity to Louisiana using environmentally- friendly and energy-efficient technology, while at the same time allowing Dow to achieve greater energy efficiency in its core business.”

"This power plant will enable Dow to be more energy efficient in producing more than 50 different products at our 23 units and allow us to grow to meet the needs of our customers," said R. W. (Bill) Jewell, Dow’s Energy Business Director. “Dow has generated its own power in Plaquemine since 1957 and is one of the largest cogenerators in the world."

Dow has a long-standing commitment to cogeneration since this technology combines efficiency gains with a reduced impact on the environment. Last year, the U.S. Environmental Protection Agency and the Department of Energy recognized Dow’s leadership in cogeneration with the Energy Star Award for its Texas energy project.

“The Plaquemine Plant fits well with our Tractebel North American strategy which includes owning or controlling generating capacity in selected regions of North America”, said William Utt, president and chief executive officer of Tractebel North America. “This transaction is a major step for Tractebel,” added Dirk Beeuwsaert, chief executive officer of Tractebel’s Electricity and Gas International division. “We are continuing to expand our trading capabilities without immediate investment in parallel with our energy marketing and related energy services in North America.”

About AEP

American Electric Power is a multinational energy company based in Columbus, Ohio. AEP owns and operates more than 38,000 megawatts of generating capacity, making it one of America’s largest generators of electricity. The company is also a leading wholesale energy marketer and trader, ranking second in the U.S. in electricity volume. AEP provides retail electricity to more than 9 million customers worldwide and has more than $35 billion in assets, primarily in the U.S. with holdings in select international markets. Wholly owned subsidiaries are involved in power engineering and construction services, energy management and telecommunications.

AEP Pro Serv^SM, Inc. is the non-regulated professional services arm of American Electric Power. AEP Pro Serv provides its clients with a full array of project management, environmental, engineering, construction, operations, technical services and maintenance expertise.

About Dow

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $19 billion, Dow serves customers in 162 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its 41,000 employees seek to balance economic, environmental and social responsibilities.

About Tractebel

Tractebel is a global energy and services business operating in more than one hundred countries with a range of activities covering not only electricity and gas, but also energy and industrial services, engineering and technical installations, together with waste management. Tractebel is the energy arm of Suez Lyonnaise des Eaux. It represents installed electricity generating capacity of more than 50,000 MW and operates gas transportation and distribution networks in Europe, Latin America and Asia. In the U.S., Tractebel currently owns and operates 23 power generating facilities representing capacity of 2,335 equivalent megawatts of electrical and thermal energy. Tractebel North America presently has two merchant power projects under construction and two other projects in the advanced development stage, representing 2,000 MW. Tractebel recently completed the acquisition of Cabot LNG located near Boston, Massachusetts.

This news release contains "forward-looking statements" within the meaning of the Federal securities laws, including (1) statements concerning American Electric Power´s, Dow´s or Tractebel’s plans, objectives, expected performance and expenditures and (2) any and all underlying assumptions and other statements that are other than statements of historical fact. There can be no assurance that actual results will not differ materially due to various factors, many of which are beyond the control of American Electric Power, Dow Chemical Company and Tractebel, including, but not limited to, competition, the timely availability of major equipment, regulatory and legislative changes, the receipt of acceptable third-party approvals, as well as changes in general economic and financial and commodity market conditions. Furthermore, historical results may not be indicative of American Electric Power´s, Dow Chemical Company´s or Tractebel’s future performance.