Kodak Begins Plan of Reorganization Discussions with Stakeholders

Press release from the issuing company

Provides New Disclosure on Cash Flow and Commercial Imaging Business

Eastman Kodak Company today said that as a result of the significant progress made to date in its restructuring, it is now ready to begin discussions on a plan of reorganization with certain key creditor groups.

To facilitate these discussions with the widest possible group of interested parties, including holders of publicly-traded securities, the company is today publicly disclosing certain forward-looking information showing its cash flow forecast and financial projections for Kodak's Commercial Imaging business, which is focused on commercial, packaging, and functional printing solutions and enterprise services, and will form the company upon emergence.

These projections include forecasts of its U.S. operating cash flow through June 2013, as well as pro-forma projections of the company's combined operating cash flow after taking into account previously announced portfolio strategy decisions, such as the intention to divest the Document Imaging and Personalized Imaging businesses, as well as its intention to wind down the sale of consumer inkjet printers and focus on servicing its installed base of customers.

They also highlight the strong, cash-generating set of Kodak businesses that are expected to emerge from Chapter 11 in the first half of 2013. The Commercial Imaging business has significant growth potential and includes differentiated products and services that leverage Kodak's unique technological and competitive advantages.

Kodak Chairman and CEO Antonio M. Perez said, "As we move forward to emergence and explore an array of financing options, we believe there is confidence and interest among the financial community in our Commercial Imaging business and its future business plans. We are gratified that there appears to be interest among several potential lenders to finance this business and its emergence, and with this disclosure, we are now better positioned to explore these funding opportunities."

The company said that it anticipates it will supplement the information filed today from time to time through additional public disclosure filings.


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