Eastman Board Increases Dividend 14 Percent

Dividend increased for fifth consecutive year

KINGSPORT, Tenn. Dec. 4, 2014 - The Board of Directors of Eastman Chemical Company EMN has increased the quarterly cash dividend by 14 percent to $0.40 per share on the company's common stock. The dividend is payable January 2, 2015 to stockholders of record as of December 15, 2014.

"This increase marks the fifth consecutive year that we have increased the dividend," said Curt Espeland, executive vice president and chief financial officer. "This is consistent with our commitment to grow our dividend as the company grows, and to deploy capital in a balanced and disciplined way. It is also further demonstration of the Board's confidence in Eastman to continue generating earnings growth and strong free cash flows."

Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately $9.4 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.

# # #

Contacts:

Media:  Kristin Parker
423-229-2526 / kristin@eastman.com

Investors:  Greg Riddle
212-835-1620 / griddle@eastman.com