Press Release

Chemical Financial Corporation to Offer Common Stock Through Direct Stock Purchase Program

Company Release - 10/24/2003 8:45 AM ET

MIDLAND, Mich., Oct. 24 /PRNewswire-FirstCall/ -- Chemical Financial Corporation (Nasdaq: CHFC) announced today that it is offering shares of its common stock directly to new investors and existing shareholders under its "Chemical Invest Direct" dividend reinvestment and stock purchase program. Shares purchased under the program will be purchased on the open market or issued by Chemical Financial Corporation.

The Chemical Invest Direct program is only offered through a prospectus which contains a complete description of the features of the program. A copy of the Chemical Invest Direct program prospectus may be obtained by calling Chemical Financial Corporation at (989) 839-5350 or from Computershare Trust Company, Inc., the Program Administrator, by calling 1-800-261-0598. The program prospectus is also available through the "Investor Information" section of our website at .

Chemical Financial Corporation is a financial holding company serving in Michigan. Chemical Financial Corporation common stock trades on the Nasdaq Stock Market under the symbol "CHFC."

This announcement is not an offer to sell Chemical common stock. The offer is made only by the program prospectus.

SOURCE  Chemical Financial Corporation
    -0-                             10/24/2003
    /CONTACT:  David B. Ramaker, President & CEO of Chemical Financial
Corporation, +1-989-839-5269/
    /Company News On-Call:
    /Web site: /

CO:  Chemical Financial Corporation
ST:  Michigan

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