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Chemical Financial Corporation Declares Fourth Quarter Cash Dividend

    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




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    CONTACT:
    David B. Ramaker, President & CEO of Chemical
    Financial Corporation, +1-989-839-5269