KINGSPORT, Tenn., June 2, 2010 – During a presentation at the Goldman Sachs Basic Materials conference this morning, Eastman Chemical Company (NYSE:EMN) President and CEO Jim Rogers will announce higher expectations for the company’s second-quarter and full-year 2010 earnings per share. The higher earnings expectations are based on the global recovery in demand, and expectations that this demand level continues in the second half of the year, along with less volatile raw material and energy costs. The company expects second-quarter 2010 earnings per share to be above $1.60 per share and full-year 2010 earnings per share to be between $5.25 and $5.50 per share. Any charges related to restructuring actions are excluded from earnings per share projections.
Forward Looking Statements: This news release includes forward-looking statements concerning current expectations for global economic conditions and demand, volatility of Eastman’s raw material and energy costs, and Eastman’s earnings per share for second quarter and full-year 2010. Such expectations are based upon certain preliminary information, internal estimates, and management assumptions, expectations, and plans, and are subject to a number of risks and uncertainties inherent in projecting future conditions, events, and results. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations prove to be inaccurate or are unrealized. Important factors that could cause actual results to differ materially from such expectations are and will be detailed in the company's filings with the Securities and Exchange Commission, including the Form 10-Q filed for first quarter 2010, available on the Eastman web site at www.eastman.com in the Investors, SEC filings section.