Eastman Board Increases Dividend 15 Percent

Dividend increased for sixth consecutive year

KINGSPORT, Tenn. Dec. 3, 2015 - The Board of Directors of Eastman Chemical Company (NYSE: EMN) has increased the quarterly cash dividend by 15 percent to $0.46 per share on the company's common stock. The dividend is payable January 4, 2016 to stockholders of record as of December 14, 2015.

"For the sixth consecutive year Eastman has increased the dividend," said Curt Espeland, executive vice president and chief financial officer. "We remain committed to increase the dividend as the company grows, and to deploy capital in a balanced and disciplined way. This action reflects the Board's confidence in continued earnings growth and strong cash flow."

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 2014 revenues of approximately $9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 15,000 people around the world. For more information, visit www.eastman.com.

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Contacts:

Media:  Tracy Kilgore
423-224-0498 / [email protected]

Investors:  Greg Riddle
212-835-1620 / [email protected]

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