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Kodak and IBM Sign Deal to Transform and Manage Key Business Functions

Kodak Furthers Plan for Aggressive Digital Transformation

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ROCHESTER, NY & ARMONK, NY - 18 Oct 2005: Eastman Kodak Company and IBM today announced that they have reached a definitive five-year agreement for IBM to provide a broad range of business support services to Kodak.

Under the terms of the agreement, which were not disclosed, IBM will operate a broad range of business support functions for Kodak, including payroll services and credit and collections management, among others. Kodak expects to realize millions of dollars in operating and capital cost savings, while driving greater business flexibility and responsiveness in these process areas.

This agreement is part of Kodak's broader effort to create a business model that is competitive in digital markets. This move will help Kodak to reduce administrative costs while benefiting from the improved delivery of business services from IBM.

"Kodak has a huge opportunity in the digital world, and we are transforming our company and our brand to make sure we do all we can to take advantage of the opportunity," said Mark V. Gulling, Director, Global Shared Services, and Vice President, Eastman Kodak Company. "This agreement is a key part of our transformation because it will allow us to streamline our business processes and increase cost savings while freeing up resources to focus on our core imaging businesses."

"IBM and Kodak have enjoyed a long history of working together and the opportunity to provide business transformation services to Kodak extends our strong relationship," said Dave Simpson, Vice President of BTO for Business Consulting Services at IBM. "IBM will work with Kodak to optimize business performance and create long-term economic benefits, enabling Kodak to focus on its strategic business goals and further its transformation."

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