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KODAK CEO WHITMORE COMMENTS ON DIVESTITURE OF THREE BUSINESSES

 ROCHESTER, N.Y., Nov. 23 ~PRNewswire ~ -- Eastman Kodak Company, (NYSE: EK) following through on its pledge to divest assets which are not critical to its core business strategies, today announced:
 -- the outsourcing of the Eastman Kodak Credit Corporation to GE Capital Corporation;
 -- the sale of its Atex subsidiary to a private investor in the United Kingdom;
 -- and the sale the Estek Products Division to ADE Corporation.
 Kay R. Whitmore, Kodak chairman, president, and chief executive officer, today described the business activity as "further evidence of our resolve to make good on our pledge to focus intently on our core businesses.
 "We believe these actions are in the best interests of the units and
customers involve. They also support our strategic objectives of reducing costs, divesting non-critical assets, and reallocating resources to those key businesses which offer Kodak the best opportunity for long-term growth," Whitmore said.
 He noted that the agreement with GE Capital "will expand our credit service and provide more options and benefits to our customers." The sale of Atex to Daniel Chapcal of the United Kingdom and the sale of Estek Products to ADE Corporation will assure that customers of those units continue to recieve excellent products and service, he said.
 -0- 11~23~92
 ~CONTACT: Ronald C. Roberts of Eastman Kodak Company Media Relations, 343 State Street, Rochester, NY, 14650-0518, 716-724-4513~
 (EK)


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

LC -- CL015 -- 0508 11~23~92 12:02 EST
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Publication:PR Newswire
Date:Nov 23, 1992
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