Kodak Outsources Energy Facilities to Trigen-Cinergy Solutions With 20-Year Contract

196-Megawatt Project Gains Reduced Energy Use, Costs & Emissions

ROCHESTER, N.Y., Nov. 15 /PRNewswire/ -- Trigen-Cinergy Solutions (TCS) signed a 20-year contract with Eastman Kodak Company (NYSE: EK) to provide energy services to Kodak Park. The 1300-acre campus, with 160 major buildings, is located in Rochester, New York, and serves as Kodak's primary manufacturing site. TCS has been selected as energy manager for steam and electric utility services, including 196 megawatts of onsite electric generation capacity. TCS will also manage all fuel procurement for Kodak Park. Transfer of operations is expected to occur in January 2000.

"Outsourcing energy management to Trigen-Cinergy Solutions will provide significant cost savings to Kodak, while allowing us to focus on our core manufacturing operations," said Leonard E. Redon, vice president, Eastman Kodak Company and director of Rochester Area Operations. "TCS brings a strong track record in operating industrial energy facilities, fuel management and improving energy efficiency."

Redon added that the expertise of TCS will enable accelerated progress in reducing the environmental impact of Kodak Park's power generation facilities, thus allowing the site to contribute significantly to Eastman Kodak Company's aggressive five-year worldwide environmental goals. These goals include a worldwide commitment to a 15% reduction in energy usage and a 20% reduction in greenhouse gas emissions by the year 2004.

From an environmental perspective, Trigen-Cinergy Solutions is among the most progressive energy companies in the industry and is the leader in optimizing the use of technology to substantially decrease fuel use and lower the emission of pollutants up to 50%, as compared to conventional generation.

TCS has recently signed the University of Maryland College Park, Lafarge Gypsum, Millennium Inorganic Chemicals and Sweetheart Cup, among others, to address environmental issues in addition to cost savings for energy operations.

Redon also noted that another key feature of the agreement is that TCS will hire its operating staff from the roster of current Kodak operating employees. "We're pleased that Trigen-Cinergy Solutions will be offering employment to a large proportion of our current employees and that those who are hired will be joining a highly respected company with an excellent compensation and benefits package," he said. "Since energy services is a core strategic business for Trigen-Cinergy Solutions, the company provides an excellent opportunity for many of our current power generation employees to continue their careers."

Steve Harkness, chief operating officer for TCS said, "Kodak's choice of Trigen- Cinergy Solutions furthers the outsourcing trend of industrial companies seeking TCS' expertise and capabilities in managing their utilities efficiently and cost effectively. The Kodak agreement is the tenth such undertaking by TCS in the last 13 months. We'll use the same operational skills and environmental techniques at Kodak that we've employed at other large industrial facilities. We're pleased to be chosen as Kodak's energy manager and to partner with them to reduce their energy costs as an important part of their efforts to enhance their competitive position. Our emphasis on fuel savings, reduced energy usage and energy efficiency allows Kodak to lower costs and enhances Kodak's efforts to improve the environment."

Terms of the transaction were not disclosed.

Eastman Kodak Company is the world leader in imaging, with manufacturing operations in Canada, Mexico, Brazil, the United Kingdom, France, Germany, Australia and the U.S. Kodak products are marketed by subsidiary companies to customers in more than 150 countries. Its customers include consumers, photofinishers, professional photographers, printers, publishers, health care providers, motion picture and television producers and office information managers. Kodak sales in 1998 totaled $13.4 billion.

Trigen-Cinergy Solutions LLC is a joint venture that combines the capabilities of Cincinnati-based, Cinergy Corp. (NYSE: CIN), one of the nation's largest diversified energy companies, and White Plains, NY-based Trigen Energy Corporation (NYSE: TGN), the foremost thermal sciences company in the U.S., Canada and Mexico. Cinergy, a leading producer and marketer of energy, is expanding its energy services capabilities throughout North America. Trigen uses thermal sciences to promote the efficient conversion of fuel to thermal energy and electricity and combines the production of heat and power to reduce the amount of fossil fuel used and lessen the amount of carbon dioxide emitted in to the environment.

Note: The statements in this press release relating to matters not historical in nature are forward-looking statements that involve important factors that could cause actual results to differ materially from those anticipated. Cautionary statements identifying such important factors are described in reports, including the Form 10-K for the fiscal year ended December 31, 1998, filed by Trigen and/or Cinergy with the Securities and Exchange Commission.

Contact: Susan Odiseos, Director of Corporate Communications of Solutions of Trigen Energy Corporation, 914-286-6628, or Steve Harkness, Chief Operating Officer of Trigen-Cinergy Solutions, 317-838-1388.