WILMINGTON, Del., April 29, 2002 DuPont TextilesandInteriors (DTI) today announced actions that
will advance its progress toward becoming a more competitive integrated enterprise. As part of its
drive to capitalize on the strength of its newly combined businesses in response to rapidly
accelerating industry structural changes, DTI plans to reduce more than 2,000 employees worldwide,
or 10 percent of its global work force. More than two-thirds of the reductions are in manufacturing
facilities and offices in the United States, with most of the balance in Europe. In the U.S., DTI
plans to shut down its Terathane® PTMEG manufacturing unit at Niagara Falls, N.Y., and less
competitive portions of the spandex operation at Waynesboro, Va. “These are difficult but necessary
actions to position DTI for success in a highly competitive and rapidly consolidating industry,”
said Richard R. Goodmanson, DuPont executive vice president and chief operating officer, who is
leading DTI. “We must act quickly and decisively to match our resources with current market
realities. We are committed to doing what it takes to capture market opportunities while serving
our customers with speed and flexibility.” “We do not anticipate a negative impact to our revenue
streams as a result of these restructuring actions,” Goodmanson added. “We will support our current
revenue base from more competitive facilities. We are primed to grow revenues by capitalizing on
our strong global market access, key branded platforms and a robust innovation pipeline targeting
the global apparel, interior and textile markets.” DuPont expects to achieve annual pre-tax cost
savings of about $120 million as a result of these actions, realizing about 30% in 2002 and
substantially all in 2003. The company expects to take a one-time second quarter charge of 12-16
cents per share, with about two-thirds due to employee separation costs, and the balance for asset
shutdowns. Since plans are still being finalized, the actual one-time charge to earnings will not
be available until the end of the second quarter. DuPont announced in February that it planned to
create DTI as a new wholly owned subsidiary and separate it from DuPont by year-end 2003, market
conditions permitting. The company is evaluating a range of separation options, including an
Initial Public Offering. DTI includes the nylon fibers, polyester fibers, Lycra® brand fiber and
spandex businesses, plus their intermediates and joint ventures. “We recognize that this is a
difficult time for all employees,” Goodmanson said. “We appreciate the contributions of our
employees who will be leaving and we will treat everyone whether they are leaving or staying —
with dignity and respect.” Current plans call for more than half of the affected employees to leave
DuPont by July 31. They can take advantage of transition packages available in their country or
region. For example, U.S. employees leaving DuPont will receive a severance package providing them
with career transition payments based on length of service, as well as a range of health and dental
benefits and educational assistance. DuPont TextilesandInteriors is the largest integrated textile
fiber and interiors business in the world, with approximate annual revenue of $6.5 billion and
operating in 50 countries. Headquartered in Wilmington, Del., DTI is comprised of two units, each
with subgroups: Textiles and Interiors including apparel, home, industrial and flooring; and
Intermediates including nylon, Terathane® PTMEG and polyester intermediates, specialties and joint
ventures. DuPont TextilesandInteriors has a powerful portfolio of the best-known, worldwide brands
and trademarks of DuPont including: Lycra®, Stainmaster®, Coolmax®, Thermolite®, Supplex®, Antron®,
Cordura®, Tactel®, Dacron® and Micromattique.During 2002, DuPont is celebrating its 200th year of
scientific achievement and innovation providing products and services that improve the lives of
people everywhere. Based in Wilmington, Del., DuPont delivers science-based solutions for markets
that make a difference in peoples lives in food and nutrition; health care; apparel; home and
construction; electronics; and transportation.Forward-Looking Statements: This news release
contains forward-looking statements based on managements current expectations, estimates and
projections. All statements that address expectations or projections about the future, including
statements about the companys strategy for growth, product development, market position, expected
expenditures and financial results are forward-looking statements. Some of the forward-looking
statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,”
“projects,” “indicates,” and similar expressions. These statements are not guarantees of future
performance and involve a number of risks, uncertainties and assumptions. Many factors, including
those discussed more fully elsewhere in this release and in documents filed with the Securities and
Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly
report on Form 10-Q, as well as others, could cause results to differ materially from those stated.
These factors include, but are not limited to changes in the laws, regulations, policies and
economic conditions, including inflation, interest and foreign currency exchange rates, of
countries in which the company does business; competitive pressures; successful integration of
structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost
of raw materials, research and development of new products, including regulatory approval and
market acceptance; and seasonality of sales of agricultural products.
