Kodak Extends 18-year Race Team Relationship with NASCAR

ROCHESTER, NY and CHARLOTTE, NC, Jan. 6 - Eastman Kodak Company and Penske Performance, Inc. announced that Kodak would sponsor Penske-Jasper Racing Company's No. 77 Dodge for the 2004 NASCAR NEXTEL Cup Series.

The companies forged a multi-year agreement for Kodak to be the primary sponsor of the No. 77 Dodge, which will be driven by rising star Brendan Gaughan. Gaughan, the 2002 "Rookie of the Year" in the NASCAR Craftsman Truck Series, won eight races over two full seasons and finished fourth in the Truck Series point standings in 2003.

"Kodak has had a long and rewarding relationship with NASCAR and we are pleased to be continuing with our race team program with this great sport and its fans," said Carl Gustin, Chief Marketing Officer, and Senior Vice President, Eastman Kodak Company. "We are excited to be aligned with Penske, one of the premier organizations in all of motorsports"

Roger Penske's teams have been involved in NASCAR competition for more than 20 years, accumulating 53 NASCAR Winston Cup victories, including 8 wins in 2003. The No. 77 Kodak Dodge will be co-owned by Jasper Engine Exchange, Inc., a long-time Penske business partner, and will have the benefits of its relationship with Penske's other NEXTEL Cup teams, the No. 2 Miller Lite Dodge, driven by Rusty Wallace, and the No. 12 Alltel Dodge, driven by Ryan Newman.

"Having the opportunity to partner with Kodak brings a tremendous amount of credibility to our race team and I look forward to the business-to-business opportunities that will develop from this new relationship," said Roger Penske.

Kodak plans to utilize its race team sponsorship and its NASCAR Official Imaging Sponsor status as a marketing platform for many of its 2004 strategic initiatives. Kodak will adorn the No. 77 Dodge with a wide representation of Kodak's digitally-oriented products and services, including KODAK EASYSHARE digital cameras and its OFOTO online photo fulfillment service (www.ofoto.com). Kodak will leverage its digital leadership through a variety of racing-related programs, such as using in-car KODAK EASYSHARE cameras, utilizing its OFOTO service for print fulfillment and incorporating race team content on KODAK PictureMaker kiosks. Additionally, Kodak plans to enable a system for fans to purchase NASCAR photos at the track, at retail and online through various KODAK digital services.

Kodak will continue in its Retail Partner Program, where select retailers will partner with Kodak's racing program, beginning with Eckerd Corporation at the Daytona 500 in February 2004. Kodak expects to have 15 to 20 partners participate in this program throughout the season.

Through its Entertainment Imaging operations, Kodak plans to engage movie studio customers to market new releases. In 2003, Kodak teamed up with Walt Disney Pictures to promote "The Pirates of the Caribbean" release at the Pepsi 400 at Daytona International Speedway.

"Kodak is focused on developing unique marketing programs for the company and its business partners, with an eye on creating revenue-generating opportunities," Gustin noted.

"I am thrilled to get this opportunity and thankful to so many people," said Brendan Gaughan. "I appreciate the confidence that Kodak and the Penske organization have shown in my abilities, and I'm very excited about the opportunity to represent Kodak, one of the most respected brands and companies in the world. To drive the Kodak Dodge for an organization the caliber of Penske-Jasper Racing is a dream come true. I can't wait for the 2004 season to begin."

Jasper Engine Exchange and Transmissions, Inc., which has been the primary sponsor of the No. 77 Jasper car for the past 13 seasons, will become an associate sponsor with the new race team. Jasper will be identified as the primary sponsor in several races each year. In addition to its sponsorship, Jasper will provide engineering support and power train development to the Kodak-sponsored No. 77 Dodge.

For the past 18 years, Kodak has been identified with the No. 4 car, teamed with Morgan-McClure Motorsports. Kodak will remain with the Morgan-McClure team as an associate sponsor. The Kodak and Morgan McClure relationship has resulted in 14 Winston Cup wins, including 3 Daytona 500 victories in 1991, 1994 and 1995.

"We thank Larry McClure and Morgan-McClure Motorsports for our long-standing relationship with them," said Gustin. "We wish them the best of luck as a NASCAR NEXTEL Cup competitor in the coming seasons.

"The 2004 NASCAR NEXTEL Cup season will be an exciting one, filled with many changes. Kodak's new race program certainly is represented within this change. We are thrilled to have Brendan Gaughan as the driver of the No. 77 Kodak Dodge team and we are confident that Penske-Jasper Racing will provide us with much success for many years to come." Gustin continued.

From Kodak Racing site