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KODAK TO FORM NEW BOARD COMMITTEE

 ROCHESTER, N.Y., Jan. 19 /PRNewswire/ -- Kodak (NYSE: EK) chairman and chief executive officer Kay R. Whitmore announced today plans to form a new Corporate Directions Committee to assist the company in its drive to increase shareholder value.
 "Next month, we will propose to the board formation of a committee of directors to work with me and others in senior management as we evaluate our business and product portfolio, assess our competitive position, review our executive development process, and develop plans to increase the company's value," Whitmore said today.
 Adoption of the proposal would formalize a process that began some years ago, Whitmore said.
 "Since 1984, we have been meeting twice a year with the board in formal reviews of our business and technical strategies," the Kodak CEO said. "More recently, several of us in senior management began to meet on an ad hoc basis with individual directors to discuss matters of essential interest to the company and, in particular, ways in which shareholder value might be increased.
 "With the new committee in place and meeting regularly, there will be more frequent and more effective interaction between its members, myself, and other key Kodak executives. Members of the committee -- and through them, the full board of directors -- will develop keener insight in a more participatory process and those of us in management, will be better able to draw upon their very considerable expertise."
 The new committee, as proposed, will be chaired by John J. Phelan, Jr., retired chairman of the New York Stock Exchange. Other members are John F. Burlingame, former vice chairman, General Electric Co.; Dr. Alice F. Emerson, fellow of the Andrew W. Mellon Foundation, and Dr. Paul E. Gray, chairman of the corporation, Massachusetts Institute of Technology.
 Formation of the Corporate Directions Committee would bring to six the number of board committees at Kodak, each of which is composed entirely of independent or outside directors. Others are the Audit, Compensation, Investment and Public Policy committees and the Committee on Directors (known at other companies as the Nominating Committee).
 Independent or outside directors are in a large majority on the Kodak board, with only five of 15 directors serving as active officers of the company.
 -0- 1/19/93
 /CONTACT: Ronald C. Roberts of Eastman Kodak Company, 716-724-4513/
 (EK)


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

KK -- CL003 -- 6137 01/19/93 08:32 EST
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Publication:PR Newswire
Date:Jan 19, 1993
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