DuPont Advances Transformation to Higher Growth, Higher Value Company

    DuPont Advances Transformation to Higher Growth, Higher Value Company

Announces Separation of Performance Chemicals Segment to Enhance Shareholder
Value; Intensifies Focus in Agriculture & Nutrition, Bio-Based Industrials and
Advanced Materials

PR Newswire

WILMINGTON, Del., Oct. 24, 2013

WILMINGTON, Del., Oct. 24, 2013 /PRNewswire/ -- DuPont today advanced its
transformation to a higher growth, higher value company as its Board of
Directors authorized management to execute a full separation of its
Performance Chemicals segment, which includes the Titanium Technologies and
Chemicals & Fluoroproducts businesses. DuPont intends to execute the
separation through a tax-free spin-off to shareholders, subject to customary
closing conditions. Upon completion of the separation in about 18 months, 100
percent of the new public entity will be owned by DuPont shareholders.

"Following a thorough strategic review process over the last year, the
spin-off of Performance Chemicals is clearly the best option to deliver
enhanced value for our shareholders. This separation will advance the
transformation of DuPont and result in two strong, highly competitive
companies," said DuPont Chair and CEO Ellen Kullman. "Our strategy is already
delivering strong results. After separation, DuPont will have the optimum
portfolio and will benefit from more consistent earnings growth and lower
volatility, enhancing our ability to deliver more sustained growth and invest
in future opportunities. Performance Chemicals will emerge as a top global
industrial chemicals company with industry leading products and strong cash
flow."

The Performance Chemicals spin-off is DuPont's latest portfolio enhancement
guided by its strategic direction. Since 2010, DuPont has executed a number
of acquisitions and divestitures – including acquiring Danisco, a leading food
and biosciences business, while divesting its Performance Coatings segment
earlier this year.

Kullman said both DuPont and Performance Chemicals have experienced and
talented employees, and valuable customer and partner relationships
worldwide. Each company will have a tailored capital structure that best
supports its value creation plan, including capital allocation and credit
profile. DuPont expects to enable both companies to pay dividends that in
total equal DuPont's dividend at the time of separation. The company
anticipates fourth quarter separation costs of $.01-.02 per share, which were
not included in its third quarter 2013 earnings news release.

With an even clearer focus on science-driven growth, DuPont will advance its
unique integrated capabilities in biology, chemistry and materials science to
further strengthen its industry leading positions in agriculture and
nutrition, bio-based industrials and advanced materials. Specifically, the
company will continue to leverage its exceptional science capabilities across
secular growth markets in food, energy, and protection, delivering shareholder
value through revenue and earnings growth.

DuPont's Performance Chemicals segment will operate as an independent,
publicly traded company after the separation. The new company will have world
leading businesses in Titanium Technologies and Chemicals & Fluoroproducts,
solid fundamentals, strong cash flow generation, and well established
positions in attractive markets. The Performance Chemicals segment generated
about $7billion in 2012 revenues.

DuPont announced on July 23 that it would explore strategic alternatives for
its Performance Chemicals businesses as part of an ongoing portfolio review to
determine the optimal mix of businesses for maximizing shareholder value.
Evercore and Goldman Sachs are strategic advisors on the separation.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the
global marketplace in the form of innovative products, materials, and services
since 1802. The company believes that by collaborating with customers,
governments, NGOs, and thought leaders we can help find solutions to such
global challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its commitment to
inclusive innovation, please visit http://www.dupont.com.

Forward-Looking Statements: This news release contains forward-looking
statements which may be identified by their use of words like "plans,"
"expects," "will," "believes," "intends," "estimates," "anticipates" or other
words of similar meaning. All statements that address expectations or
projections about the future, including statements about the company's growth
strategy, product development, regulatory approval, market position,
anticipated benefits of acquisitions, outcome of contingencies, such as
litigation and environmental matters, expenditures and financial results, are
forward-looking statements. Forward-looking statements are not guarantees of
future performance and are based on certain assumptions and expectations of
future events which may not be realized. Forward-looking statements also
involve risks and uncertainties, many of which are beyond the company's
control. Some of the important factors that could cause the company's actual
results to differ materially from those projected in any such forward-looking
statements are: fluctuations in energy and raw material prices; failure to
develop and market new products and optimally manage product life cycles;
significant litigation and environmental matters; failure to appropriately
manage process safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital markets
conditions, such as inflation, interest and currency exchange rates; business
or supply disruptions; security threats, such as acts of sabotage, terrorism
or war, weather events and natural disasters; ability to protect and enforce
the company's intellectual property rights; and successful integration of
acquired businesses; and separation of underperforming or non-strategic assets
or businesses. The company undertakes no duty to update any forward-looking
statements as a result of future developments or new information.



SOURCE DuPont

Website: http://www.dupont.com
Contact: Michael Hanretta, 302-774-4005, michael.j.hanretta@dupont.com
 
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