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DUFF & PHELPS RESPONDS TO KODAK'S COST CONTAINMENT EFFORTS

 CHICAGO, Aug. 19 /PRNewswire/ -- Yesterday's announcement that Eastman Kodak will eliminate 10,000 jobs by 1995 is likely to be the starting point for the accelerating pace of change at the company following the retirement of the chairman and CEO.
 "Between a renewed emphasis on improving cash flow, significant cost reductions and likely additional divestitures/spin-offs, we continue to anticipate gradually improving credit quality for the company in the future," said Albert Turner of Duff & Phelps.
 Ongoing cost reductions measures are likely to develop in a restructured Kodak as the company deals with demands to improve profitability and contends with an increasingly competitive photographic market. Incursions by private label and other brands into Kodak's core franchise (photographic film and papers) has forced the company to reduce the price premium on its brand this year to stem market share erosion.
 Duff & Phelps current credit ratings on Kodak are 'A-' (Single- A- Minus) for notes and debentures and Duff 1 for commercial paper.
 -0- 8/19/93
 /CONTACT: Albert Turner of Duff & Phelps Investment Research Co., 312-630-4656/
 (EK)


CO: Eastman Kodak ST: New York IN: SU:

WB -- NY081 -- 4529 08/19/93 17:43 EDT
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Publication:PR Newswire
Date:Aug 19, 1993
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