Eastman Chemical Company Files Form 10 Registration Statement with SEC For Previously Announced Spin Off


Kingsport, Tenn.( Aug. 31, 2001)--Eastman Chemical Company announced that a Form 10 registration statement, which includes the preliminary information/proxy statement, has been filed with the Securities and Exchange Commission in connection with its previously announced plan to become two independent companies.

Eastman announced earlier this year it will create and spin off a new specialty chemicals and plastics company, which has been named Eastman Company. The remaining entity will be called Voridian Company and will consist of Eastman's current PET polymer, fibers and polyethylene businesses. Eastman plans to complete the spin-off by year-end, pending customary approvals. The final information/proxy statement is expected to be distributed to shareowners in November, in advance of the December shareowners meeting to approve the spin-off.

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