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FOR IMMEDIATE RELEASE
October 28, 2002

KPG ANNOUNCES INTENTION TO ACQUIRE MITSUBISHI CHEMICAL CORPORATION'S JAPAN PLATE BUSINESS

Agreement includes right to sell to MCC channel and customers in Asia

Norwalk, Connecticut, USA - Kodak Polychrome Graphics (KPG) today announced that it has reached a basic agreement with Mitsubishi Chemical Corporation (MCC) to acquire the plate business in Japan of MCC Group (MCC and Mitsubishi Chemical Media, a subsidiary of MCC).

"Customers in Japan and Asia Pacific can count on receiving the same high quality products they are accustomed to, manufactured in the same plants and serviced by the same people," said Jeff Jacobson, Chief Executive Officer, KPG. "We welcome our new customers and dealer partners from MCC and believe they will experience significant value from having access to the industry's broadest technology base and working with a company which is solely focused on the graphic arts."

Under terms of the proposed acquisition, MCC will continue to manufacture thermal and conventional plate products for KPG on a contract basis at its Kashima, Japan plant. KPG obtains the right to manufacture and sell products to MCC's customers and dealers in Japan, as well as a right to sell products to the MCC channel and customers in Asia. Approximately 30 MCC sales, marketing and technical employees will transfer to KPG.

KPG is a leading supplier of digital and conventional solutions to the graphic arts industry in Japan. The Company's Japan Region is headquartered in Tokyo. It also has a plate manufacturing and research and development facility in Gunma, as well as seven sales offices throughout the country.

"We will focus our efforts on ensuring a smooth transition for customers, dealers and employees," said Kiyoo Shimada, Ph.D., President and Chief Executive Officer, KPG, Japan. "Our commitment is to deliver continuity in product quality, reliability and supply."

The transaction is expected to be finalized by December 1, 2002. Terms of the acquisition will not be released.

About Kodak Polychrome Graphics
Kodak Polychrome Graphics provides one of the broadest portfolios of digital, conventional and business solutions available in the graphic arts industry today. Products and services include a wide range of computer-to-plate and conventional lithographic plate products, digital halftone, inkjet, and analog proofing products, digital printing applications, color workflow tools, consulting services and Kodak-branded graphic arts films. With headquarters in Norwalk, Connecticut, USA, KPG serves customers around the globe with regional offices in the United States, Europe, Japan, Asia Pacific and Latin America. Additional information regarding Kodak Polychrome Graphics may be found on the Company's website: www.kpgraphics.com.

For more information:

Beth Hogan Scott
Director of Corporate and Worldwide Marketing Communications
Kodak Polychrome Graphics
Norwalk, CT
203/845-7115 (phone) 203/845-7173 (fax)
hoganscotte@kpgraphics.com

Greg Loh
Eric Mower and Associates Public Relations Services
315/466-1000 (phone) 315/466-3000 (fax)
gloh@eric.mower.com

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