Eastman Announces Restructuring

Kingsport, Tenn.-based Eastman
Chemical Co. has announced it will realign its existing divisions, including its Voridian fibers
and polymers division, into two business groups effective April 1, 2006, to take better advantage
of growth opportunities. The chemicals and fibers business group will comprise performance
chemicals and intermediates; fibers; and coatings, adhesives, specialty polymers and inks. The
polymers business group will comprise polymers and specialty plastics.

“This structure, which is built around related technologies and assets, brings a stronger
focus on the capabilities within our core businesses,” said Brian Ferguson, chairman and CEO. “
Eastman will also be in a stronger position to drive growth opportunities as we work with our
customers to bring their own product innovations to market faster.”

Ferguson noted in particular that bringing together Eastman’s various polymers segments into
one business group will bolster its integrated polyester strategy, whereby production assets and
intermediates are used to develop innovative copolyester products for new markets. Integral to that
strategy is the company’s IntegRex polyethylene terephthalate resin production process, launched in

March 21, 2006