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Kodak Reiterates 2002 Business Outlook at Annual Meeting

Press release from the issuing company

Board Members Reelected by Overwhelming Margin ROCHESTER, N.Y.--May 8, 2002--Eastman Kodak Company reiterated at its annual meeting today the 2002 earnings guidance provided to investors when it reported first-quarter earnings on April 25. Chairman and CEO Daniel A. Carp said at the annual meeting that Kodak expects to earn 60 cents to 70 cents per share in the second quarter, and $2.00 to $2.60 per share for the full-year 2002. Separately, the company said that at least 96% of the shareholders voted in favor of a three-year term on the board for each of the following current directors: Richard S. Braddock, Daniel A. Carp, Durk I. Jager and Debra L. Lee. Shareholders also voted in favor of one-year terms for Timothy M. Donahue and Delano E. Lewis, with each receiving at least 96% of the vote. Mr. Donahue stood for election for the first time this year, and Mr. Lewis previously served on the board from May 1998 to December 1999. In other business, shareholders ratified the election of PricewaterhouseCoopers LLP as the company's independent accountants, and they rejected a shareholder proposal to require the company to publish certain environmental information at a level greater than that required by accounting rules and by law.