Kodak Acts to Strengthen Financial Position

As noted above, Kodak intends to use the net proceeds from KKR and from the separately announced private placement to repurchase up to $575 million aggregate principal amount of its 3.375% Convertible Notes due 2033, either through the tender offer for the 2033 Notes announced today or when they are required to repurchase the 2033 Notes at the option of the holders on October 15, 2010, or after the 2033 Notes become redeemable on or after October 15, 2010.