EASTMAN INKS MOU

Eastman Chemical Company, the world's leading producer of polyester plastics, signed a memorandum of understanding with India's Reliance Industries Ltd. to develop the market for Spectar™ copolymer and Eastar™ PETG copolyester in the Indian subcontinent.

The agreement with Reliance, one of the world's largest integrated petrochemical companies, may also see the possible licensing of Eastman's proprietary copolyester technology and supply of CHDM (1,4-cyclohexanedimethanol) to manufacture copolyester products for the subcontinent.

Dr. Philip Griswold, VP and General Manager of Eastman's specialty plastics business said. "Spectar copolymer is finding rapid acceptance for making thick plastic sheet that is clear, tough and versatile. Eastar PETG copolyester is advancing the latest innovations in flexible and rigid packaging applications. Companies with an intense interest in finding environmentally friendly solutions to their plastic needs are turning to Eastar PETG copolyester and Spectar copolymer."

For more information, contact Katherine Watkins, Eastman Chemical Company, 423-229-3078.