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KODAK CEO WHITMORE OUTLINES PLAN TO COME IN SEPTEMBER

 NEW YORK, June 15 /PRNewswire/ -- Eastman Kodak Company (NYSE: EK) chairman and chief executive officer Kay R. Whitmore today gave investors more detail about what they can expect when his full plan for improving the company's performance is unveiled in September.
 He also announced one "significant element of the portfolio part of the plan" -- the company's intention to separate its chemical group from the parent Eastman Kodak Company. This action came just one month after Whitmore told shareowners at the company's Annual Meeting that he would deliver a major asset divestiture in 1993.
 In September, Whitmore said he will share publicly:
 -- Kodak's view of the markets it will serve -- expected growth rates, market dynamics, industry outlook, and pricing trends;
 -- An operating plan to maximize shareholder value, including cost structure parameters for research and development expenditures, selling, advertising, distribution and administrative expenses, and capital spending;
 -- A financial plan indicating expected performance in terms of operating margin, earnings levels, operating cash flows, levels of debt, and returns on assets;
 -- A portfolio description to addess the strategic fit of the various pieces which will comprise Kodak -- and the adjustments to be made to improve company performance.
 Whitmore offered some additional details concerning cash flow -- which will be used to pay down debt. He said the cash flows from operations which Kodak is now projecting "substantially exceed anything we have talked about in the past," and that "we also expect to generate cash from much better management of our balance sheet and from the disposition of some assets."
 -0- 6/15/93
 /CONTACT: Ronald C. Roberts, media relations, Eastman Kodak Company, 716-724-4513/
 (EK)


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

BM -- CL005 -- 1945 06/15/93 08:30 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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