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1998 to 2002 2003 2004

Results from Operations


Sales 3,927.80 3,927.80
COGS(Not including D&A) 2,443.10 2,395.90
Gross Profit 1,484.70 1,531.80
SG&A 1,068.40 981.7
EBITDA 416.3 550.1
Depreciation 249.8 245.9
EBITA 166.5 304.2
Amortization of Financing Costs 7.8
EBIT( Before Blackstone Monitoring Fee) 166.5 296.4
Blackstone Monitoring Fee 0 5
EBIT After Blackstone Monitoring Fee 166.5 291.4
+ Gain on Sale of Assets* 352.7
Err:509 37 18.8
EBIT (Reportable per GAAP) 203.5 647.9

Interest Expense / Income


Interest Income -9.6
Bank Revolver 0
Term Loan 11.4
Sr. Sub Debt 141.6
Jr. Sub Debt 0
Total Net Interest Expense 143.4
Pre Tax Income 203.5 504.6
Income Taxes 327
Equity in Earnings of Unconsolidated Investments 30 31.9
Net Income to Common 233.5 209.5
Interest Coverage Ratio 4.5

* Dow Chemical has agreeed to buy certain excess assets that would result in the gains indicated here.
2005 2006 2007 2008

3,947.40 4,010.60 4,219.10 4,274.00


2,407.90 2,446.50 2,573.70 2,607.10
1,539.50 1,564.10 1,645.50 1,666.90
1,006.70 990.7 1,043.40 1,039.30
532.8 573.4 602 627.5
247.1 233 242.2 242.8
285.7 340.4 359.8 384.8
7.8 7.8 7.8 7.8
277.9 332.7 352.1 377
5 5 5 5
272.9 327.7 347.1 372
20.5 15.6 23.8 0
21 32 42 42
297.2 361 398.2 397.8

-12.7 -11.2 -11.2 -13.1


0 0 0 0
10 8.6 7.2 5.7
141.6 141.6 141.6 141.6
0 0 0 0
138.9 139 137.5 134.2
158.3 222 260.7 263.6
93.9 103.7 123.8 118.6
29.7 40.5 42.1 42.1
94.1 158.8 179 187.1
2.1 2.6 2.9 3

indicated here.
1998 1999 2000 2001 2002 2003
Results from Operations
Sales
Current
Original 4,230.00 4,376.40 5,244.20 4,657.40 4,297.40 3,927.80
COGS(Not including D&A)
Current
Original 2,601.40 2,713.30 3,261.90 2,901.50 2,664.40 2,443.10
Gross Profit
Current
Original 1,628.60 1,663.00 1,982.30 1,755.80 1,633.00 1,484.70
SG&A
Current
Original 1,036.40 1,264.80 1,478.90 1,322.70 1,130.20 1,068.40
EBITDA
Current
Original 592.2 398.2 503.4 433.1 502.8 416.3
Depreciation
Current
Original 294.8 320.3 370.2 398.7 293.1 249.8
EBITA
Current
Original 297.4 77.9 133.2 34.5 209.7 166.5
Amortization of Financing Costs
Current
Original 0 0 0 0 0 0
EBIT( Before Blackstone Monitoring Fee)
Current
Original 297.4 77.9 133.2 34.5 209.7 166.5
Blackstone Monitoring Fee
Current
Original 0 0 0 0 0 0
EBIT After Blackstone Monitoring Fee
Current
Original 297.4 77.9 133.2 34.5 209.7 166.5
+ Gain on Sale of Assets*
Current
Original 0 0 0 0 0 0
Err:509
Current
Original 0 0 0 0 41 37
EBIT (Reportable per GAAP)
Current
Original 297.4 77.9 133.2 34.5 250.7 203.5
Interest Expense / Income
Interest Income
Current
Original 0 0 0 0 0 0
Bank Revolver
Current
Original 0 0 0 0 0 0
Term Loan
Current
Original 0 0 0 0 0 0
Sr. Sub Debt
Current
Original 0 0 0 0 0 0
Jr. Sub Debt
Current
Original 0 0 0 0 0 0
Total Net Interest Expense
Current
Original 0 0 0 0 0 0
Pre Tax Income
Current
Original 297.4 77.9 133.2 34.5 250.7 203.5
Income Taxes
Current
Original 0 0 0 0 0 0
Equity in Earnings of Unconsolidated Investments
Current
Original 16.9 10.8 29.2 20 22 30
Net Income to Common
Current
Original 314.3 88.7 162.4 54.5 272.7 233.5
Interest Coverage Ratio
Current
Original 0 0 0 0 0 0

* Dow Chemical has agreeed to buy certain excess assets that would result in the gains indicated here.
2004 2005 2006 2007 2008

3,927.80 3,947.40 4,010.60 4,219.10 4,274.00


3,927.80 3,947.40 4,010.60 4,219.10 4,274.00

2,395.90 2,407.90 2,446.50 2,573.70 2,607.10


2,395.90 2,407.90 2,446.50 2,573.70 2,607.10

1,531.80 1,539.50 1,564.10 1,645.50 1,666.90


1,531.80 1,539.50 1,564.10 1,645.50 1,666.90

981.7 1,006.70 990.7 1,043.40 1,039.30


981.7 1,006.70 990.7 1,043.40 1,039.30

550.1 532.8 573.4 602 627.5


550.1 532.8 573.4 602 627.5

245.9 247.1 233 242.2 242.8


245.9 247.1 233 242.2 242.8

304.2 285.7 340.4 359.8 384.8


304.2 285.7 340.4 359.8 384.8

7.8 7.8 7.8 7.8 7.8


7.8 7.8 7.8 7.8 7.8

296.4 277.9 332.7 352.1 377


296.4 277.9 332.7 352.1 377

5 5 5 5 5
5 5 5 5 5

291.4 272.9 327.7 347.1 372


291.4 272.9 327.7 347.1 372

352.7 20.5 15.6 23.8 0


352.7 20.5 15.6 23.8 0

18.8 21 32 42 42
18.8 21 32 42 42

647.9 297.2 361 398.2 397.8


647.9 297.2 361 398.2 397.8
-9.6 -12.7 -11.2 -11.2 -13.1
-9.6 -12.7 -11.2 -11.2 -13.1

0 0 0 0 0
0 0 0 0 0

11.4 10 8.6 7.2 5.7


11.4 10 8.6 7.2 5.7

141.6 141.6 141.6 141.6 141.6


141.6 141.6 141.6 141.6 141.6

0 0 0 0 0
0 0 0 0 0

143.4 138.9 139 137.5 134.2


143.4 138.9 139 137.5 134.2

504.6 158.3 222 260.7 263.6


504.6 158.3 222 260.7 263.6

327 93.9 103.7 123.8 118.6


327 93.9 103.7 123.8 118.6

31.9 29.7 40.5 42.1 42.1


31.9 29.7 40.5 42.1 42.1

209.5 94.1 158.8 179 187.1


209.5 94.1 158.8 179 187.1

4.5 2.1 2.6 2.9 3


4.5 2.1 2.6 2.9 3

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