KINGSPORT, TN – Eastman Chemical Co. announced earnings from continuing operations of $1.40 per diluted share for the second quarter of 2012 versus $1.44 per diluted share for the second quarter of 2011, excluding $33 million of financing, transaction and integration costs in the second quarter of 2012 related to the acquisition of Solutia and a $15 million gain in the second quarter of 2011 from the sale of a previously impaired asset. Reported earnings from continuing operations were $1.26 per diluted share in the second quarter of 2012 and $1.51 per diluted share in the second quarter of 2011.

Sales revenue for the second quarter of 2012 was $1.9 billion, a two percent decline compared with the second quarter of 2011.

Operating earnings in the second quarter of 2012 were $317 million compared to $333 million in the second quarter of 2011. Excluding transaction and integration costs related to the Solutia acquisition in the second quarter of 2012 and a gain from the sale of a previously impaired asset in the second quarter of 2011, operating earnings were $323 million and $318 million, respectively.