Kodak Ventures Group Expands Silicon Valley Operations; Kodak's Venture Group Capitalizes on Emerging Technologies.

Business Editors

SAN JOSE, Calif.--(BUSINESS WIRE)--June 20, 2001

Eastman Kodak Company today announced the expansion of the company's venture capital operations in Silicon Valley.

The new Kodak Venture Group headquarters, located at 100 Century Court in San Jose, house five employees from the Venture Group, as well as the company's Developer Relations team and members of its Systems Concept Center, which is part of Kodak's Research and Development organization.

The company launched Kodak Venture, its venture capital arm, in October 2000 to invest in early-stage technology that promises to expand the picture business and enhance Kodak's leadership role in the industry.

Kodak invests in companies whose disruptive technology can expand the infoimaging category -- a $225 billion industry created by the convergence of images and information technology. Infoimaging unites three closely related imaging markets -- devices, infrastructure and services / media.

Kodak Ventures' goal of capitalizing on advanced imaging technologies from within and outside the company is illustrated by recent investments in companies such as Dataplay, a developer of digital storage media for portable Internet appliances and consumer electronic devices, and TurboSquid, a leading manager and distributor of digital assets and content, among others.

"The expansion of our Silicon Valley operations accelerates Kodak's ability to find and collaborate with innovative start-ups that are capitalizing on the exciting opportunities created by the convergence of information technology and imaging," said Ted Lewis, Senior Vice President, Director Digital Business Development, Eastman Kodak Company.

In addition to investments in early stage start-ups, Kodak Ventures is charged with identifying technology within Kodak Research & Development to partner with these investments, such as Kodak's patented Organic Light Emitting Diodes (OLED) technology used in the development of flat-panel displays.

The recently expanded Kodak Venture executive team brings together diverse talents and expertise charged with finding and driving the research and development of nascent technologies. Ted Lewis leads Kodak Venture. Prior to joining Kodak Venture, Lewis served as CEO of DaimlerChrysler Research and Development for North America. He now reports to Daniel A. Carp, Kodak Chairman and Chief Executive Officer.

Kodak Venture has operations in San Jose, Rochester, New York and London. The West Coast team includes Linda Glisson, Director of Alliances, Strategic Investment and Syndication; Doug Smith, Director, Venture Relations; William R. Cockayne, Director of Incubation Services; and Joyce Eng, Manager, Business Development. In Rochester, Doug Mabon is Director, Venture Operations and Kim Pugliese is Director, Venture Relations. Based in London, Terry Wright is Director, New Business Development for Europe and the Middle East.

Glisson is a co-Founder and Managing Member of IPF Fund I, LLC, a strategic insiders fund with 14 portfolio companies invested in technology ventures; and Cockayne acted as chief technology officer and co-founder of Scout Electromedia, a designer and manufacturer of wireless devices and services, before joining Kodak Ventures.

Kodak's investments are a key part of the company's overall strategy, and its leadership role in the transformation of the traditional imaging business into a much bigger market called infoimaging.

The other groups housed in the new offices include members of Kodak's Developer Relations Group and Systems Concept Center. The Developer Relations Group provides information and support to software developers who create applications that are enabled for Kodak digital imaging products and technologies. The Systems Concept Center seeks to define and demonstrate significant business-growth opportunities by creating new products and services that in turn create new businesses or redefine existing businesses for Kodak.

Kodak and infoimaging

Kodak is the world's leader in helping people and businesses take, share, store and print pictures--traditional or digital. Kodak's sales last year of nearly $14 billion were divided between consumer and commercial products and services, such as professional and consumer digital cameras, laser imagers for radiologists, photographic films for professionals and amateurs, digital services for cinematographers, high-speed document scanners and aerial images. Kodak is a leading participant in infoimaging, a $225 billion industry created by the convergence of images and information technology. Infoimaging unites three closely related imaging markets--devices, infrastructure and services / media--that enable people and businesses to more easily use images as a fast and effective way to share pictures as information, entertainment or memories. Kodak's Venture group is committed to identifying and funding the next generation of infoimaging technology.

For more information about Kodak or infoimaging, please visit our Web site at www.kodak.com.

2001 Kodak is a trademark of Eastman Kodak Company.