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Eastman Chemical Company: Eastman Announces Offering of €550 Million 1.50% Notes due 2023

KINGSPORT, Tenn., May 19, 2016 - Eastman Chemical Company (NYSE:EMN) today
announced the public offering of €550 million (or $621 million based on the
euro/U.S. dollar exchange rate as of May 13, 2016 as published by the U.S.
Federal Reserve Board) principal amount of 1.50% notes due 2023 (the
"Notes"). The offering of Notes is expected to close on May 26, 2016, subject
to customary closing conditions.

Barclays Bank PLC, J.P. Morgan Securities plc and Merrill Lynch International
are serving as joint book-running managers for the offering.

Eastman intends to use the net proceeds from the offering to repay or redeem a
portion of the $1.0 billion outstanding aggregate principal amount of its
2.4% notes due June 2017, either at or prior to maturity. Any proceeds not
used to repay or redeem the notes due June 2017 will be used for general
corporate purposes, which may include working capital, capital expenditures,
the repayment of other indebtedness outstanding from time to time, and other
matters in connection with the implementation of its strategic initiatives.
Pending the application of the net proceeds, Eastman will invest such net
proceeds in short-term investments.

The offering is being made under an automatic shelf registration statement on
Form S-3 (Registration No. 333-204119) filed by Eastman with the Securities
and Exchange Commission ("SEC") on May 13, 2015 and only by means of a
prospectus supplement and accompanying prospectus. A preliminary prospectus
supplement has been filed, and an issuer free writing prospectus and a
prospectus supplement relating to the offering of the Notes will be filed,
with the SEC, to which this communication relates. Prospective investors
should read the issuer free writing prospectus, preliminary prospectus
supplement and the accompanying prospectus included in the registration
statement and other documents Eastman has filed with the SEC for more
complete information about Eastman and this offering. These documents are
available at no charge by visiting EDGAR on the SEC website at Alternatively, the prospectus and the prospectus
supplement may be obtained by contacting Barclays Bank PLC, 5 The North
Colonnade, Canary Wharf, London E14 4BB, United Kingdom, Attention: Debt
Syndicate, (tel): +44 (0) 20 7773 9098, J.P. Morgan Securities plc, 25 Bank
Street, Canary Wharf, London E14 5JP, United Kingdom, Attention: Head of Debt
Syndicate and Head of EMEA Debt Capital Markets Group, (tel): +44 (0) 20 7134
2468, and/or Merrill Lynch International, London EC1A 1HQ, United Kingdom,
Attention: Prospectus Department, or email:,
(tel): 1-800-294-1322.

This communication is neither an offer to sell nor a solicitation of an offer
to buy the securities described herein, nor shall there be any offer,
solicitation or sale of these securities in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction. The
offering of these securities will be made only by means of the applicable
prospectus supplement and the related prospectus. The securities being
offered have not been approved or disapproved by any regulatory authority,
nor has any such authority passed upon the accuracy or adequacy of the
registration statement, the prospectus contained therein or the applicable
prospectus supplement.

Forward-Looking Statements:
This communication includes forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and the federal
securities laws. Actual results could differ materially from expectations
expressed in the forward-looking statements if one or more of the underlying
assumptions or expectations prove to be inaccurate or are unrealized.
Important factors that could cause actual results to differ materially from
such expectations are and will be detailed in the company's filings with the
Securities and Exchange Commission, including the Form 10-Q filed for first
quarter 2016 and available on the Eastman website at in the
Investors, SEC filings section.

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 2015
revenues of approximately $9.6 billion. The company is headquartered in
Kingsport, Tennessee, USA and employs approximately 15,000 people around the

# # #

Media: Tracy Kilgore
423-224-0498 /

Investors: Greg Riddle
212-835-1620 /


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastman Chemical Company via Globenewswire


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