Press Release

Chemical Financial Corporation Declares Fourth Quarter Cash Dividend

Company Release - 10/19/2004 10:23 AM ET

MIDLAND, Mich., Oct. 19 /PRNewswire-FirstCall/ -- Chemical Financial Corporation's (Nasdaq: CHFC) Board of Directors announced that on October 18, 2004, it approved the declaration of a quarterly cash dividend of $0.265 per share of common stock payable on Friday, December 17, 2004, to shareholders of record on December 3, 2004. The ex-dividend date is December 1, 2004.

Chemical Financial Corporation is the fourth largest bank holding company headquartered in Michigan. The Company's four Subsidiary Banks operate 132 banking offices and 2 loan production offices spread over 32 counties in the lower peninsula of Michigan.

Chemical Financial Corporation common stock trades on the NASDAQ Stock Market under the symbol "CHFC."

SOURCE  Chemical Financial Corporation
    -0-                             10/19/2004
    /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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