Press Release

Chemical Financial Corporation Declares Fourth Quarter 2005 Cash Dividend

Company Release - 10/18/2005 8:47 AM ET

MIDLAND, Mich., Oct. 18 /PRNewswire-FirstCall/ -- Chemical Financial Corporation's (Nasdaq: CHFC) Board of Directors announced that on October 17, 2005, it approved the declaration of a quarterly cash dividend of $0.265 per share of common stock payable on Friday, December 16, 2005, to shareholders of record on December 2, 2005. The ex-dividend date is November 30, 2005.

Chemical Financial Corporation is the fourth largest bank holding company headquartered in Michigan. The Company's three subsidiary banks operate "Chemical Bank" branch offices throughout 32 counties in the lower peninsula of Michigan.

Chemical Financial Corporation common stock trades on The Nasdaq Stock Market under the symbol CHFC and is one of the issues comprising the Nasdaq Financial 100 index.

SOURCE  Chemical Financial Corporation
    -0-                             10/18/2005
    /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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