Eastman Reaches Agreement to Close Its Manufacturing Site in Düsseldorf, Germany

KINGSPORT, Tenn., December 20, 2001 - Eastman Chemical Company (NYSE EMN) announced today it has reached agreement with the Works Council of Eastman Chemical Jaeger GmbH & Co. KG to close its manufacturing site in Düsseldorf, Germany.

This agreement is the result of discussions which began Oct. 22 with Eastman’s announcement of its intent to consolidate manufacturing sites for its coatings products.

Godefroy Motte, president of the Eastman's operations in Europe, said Eastman plans to cease all production activity at the site by March 31, 2002, and to have all site inventory depleted by July 1, 2002.

"Eastman will work with its customers to minimize the impact on their business during this closure period," Motte said. Motte added that communications to employees and customers during the next few weeks will address issues specific to them.

Eastman also has a facility in Hamburg, Germany, which will remain in full operation.

Eastman, with headquarters in Kingsport, manufactures and markets chemicals, fibers and plastics. It has approximately 16,000 employees in 30 countries and had 2000 sales of

$ 5.3 billion.

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