Press Release

Gary E. Anderson Named to Chemical Financial Corporation Board of Directors

Company Release - 1/21/2005 9:00 AM ET

MIDLAND, Mich., Jan. 21 /PRNewswire-FirstCall/ -- Chemical Financial Corporation (Nasdaq: CHFC) today announced that Gary E. Anderson, Chairman of Dow Corning Corporation, was appointed to the Board of Directors of Chemical Financial Corporation at the company's regular meeting held on January 17, 2005.

Mr. Anderson currently serves on the Board of Directors of Chemical Bank and Trust Company, a wholly owned subsidiary of Chemical Financial Corporation, an appointment that began in 2001. Prior to this board appointment, Mr. Anderson served on the Community Bank Board of Directors of Chemical Bank & Trust Company - Bay City from 1991 until December 2000. Mr. Anderson earned a Bachelor of Arts Degree in chemical engineering from Michigan Technological University (MTU) in 1967 and a MBA in Finance from Central Michigan University in 1973. In May, 2003, Mr. Anderson was awarded an honorary Doctor of Engineering degree in recognition of his accomplishments and service to MTU.

"We are extremely pleased with Gary's addition to the Chemical Financial Corporation Board. His leadership, knowledge of corporate governance, business expertise and knowledge of our community banking structure will provide invaluable guidance to our company," said Frank Popoff, Chairman of the Board.

Mr. Anderson's association with Dow Corning began in 1967. In 1986, he was named a corporate vice president and in 1989, group vice president. He became a Dow Corning director in 1992 and executive vice president in 1993. In September 1994, he was elected President. He was named Chief Executive Officer in 1999 and elected Chairman in March 2001. He retired from his CEO position in July 2004.

Mr. Anderson is a past member of the MTU President's Advisory Board and Board of Trustees of the Michigan Tech Fund, including serving as the Fund's president. He was the vice chair for the MTU Leaders for Innovation capital campaign, and was instrumental in securing funding for the Dow Environmental Sciences and Engineering Building at the University. Previously, he has been involved with the local Rotary Club and Junior Achievement. He is currently president of the Midland Community Center Board of Trustees, and is a member of Trinity Lutheran Church.

Chemical Financial Corporation is the fourth largest bank holding company headquartered in Michigan. The Company's three subsidiary banks operate 132 branch offices and 1 loan production office 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-                             01/21/2005
    /NOTE TO EDITORS:  Photo available by calling the contacts./
    /CONTACT:  David B. Ramaker, +1-989-839-5269, or Lori A. Gwizdala,
+1-989-839-5358, both of Chemical Financial Corporation/
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CO:  Chemical Financial Corporation
ST:  Michigan

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