At a meeting here today for securities analysts and investors, DuPont's Chairman and Chief Executive Officer, Charles O. Holliday, Jr., outlined the significant efforts underway to create short-term double-digit earnings growth and longer-term success in higher valued businesses.

Holliday, joined by members of his leadership team, briefed a large group of securities analysts and institutional investors on the progress and prospects for growth.

"DuPont is energized for earnings growth,'' Holliday said. "The global economy, combined with our
three-track program for sustainable growth of knowledge intensity, integrated science and productivity, puts us in the best position in four years.''

Holliday reviewed the growth potential across the company, stressing the specific drivers for each group of businesses. He indicated that to achieve the targeted double-digit earnings growth the company would look for 6 percent revenue growth, while working over time to boost return on invested capital back to the high teens. Data was provided for earnings before interest, taxes, depreciation and amortization (EBITDA) and free cash flow and is attached.

Key points from the business reviews included: 

• DuPont Biosolutions Businesses, including DuPont's Agricultural businesses, Nutrition and Health and Bio-Based Materials, together have the capability of 20 percent annual growth rates.
• Agricultural businesses -- the intent is to redefine the agricultural value chain, turning the existing seed-to-consumer commodity system into one of integrated efficiencies and values. As the total value of the system grows, all participants gain from new product opportunities and efficiencies. DuPont expects to capture opportunities and wealth through cross-selling, new business services, branded products and share gain.
• Nutrition and Health -- DuPont has the leading technology position in soy food ingredients and healthy soy protein. With recent U.S. Food and Drug Administration approval of health claims for soy protein, and DuPont's ability to improve the taste and digestibility of soy, DuPont and General Mills Inc. have formed a joint venture to accelerate consumer acceptance of soy foods. At the same time, DuPont's Protein Technologies International business continues its aggressive program to develop soy protein products that could give considerable health benefits to consumers.
• Bio-Based Materials -- Bio-3GT, 1,3 propanediol (PDO), produced via plant biotechnology, is expected to be the first bio-based fiber DuPont will bring to market. A pilot plant is being
  completed in 2000, and commercialization with revenues of $50 - $100 million is anticipated by 2004.
• Public Acceptance -- To facilitate product acceptance, particularly in food industries, DuPont is actively leading and participating in industry efforts to expand the public debate over biotechnology. The company believes that public dialog should include objective discussion of the potential uses of biotechnology with discussion of benefits and risks.
• DuPont Pharmaceuticals reaffirmed its strategy to grow through augmentations that build on the company's existing therapeutic competencies. Sales for Coumadin® (warfarin sodium tablets USP) Crystalline and Sustiva(TM) (efavirenz) are expected to continue strong in 2000. The business also affirmed plans for equalization of earnings for the anti-hypertensive drug, Cozaar® (losartan) this year. DuPont expects that the annual earnings growth rate for DuPont Pharmaceuticals should exceed 20 percent in 2000.
• Approximately 75 percent of DuPont's earnings come from four traditional high value business segments: Specialty Polymers, Specialty Fibers, Performance Coatings and Polymers and Pigments and Chemicals. Business updates representing these segments were provided for DuPont iTechnologies, DuPont Nonwovens, DuPont Performance Coatings and DuPont Corian®, each of which is aggressively integrating science, knowledge intensity and productivity to produce superior revenue and earnings growth.
• DuPont is pursuing a two-track strategy for development of e-commerce businesses and alliances. First the company is improving the e-business platforms of existing businesses to extend its reach to customers and markets. The second track is creation of new "market maker'' Internet businesses serving the rapidly expanding business-to-business (B2B) markets. DuPont's recent joint venture with Internet Capital Group, called CapSpan, an Internet B2B development company is indicative of the company's e-commerce commitment. CapSpan will be capitalized at about $100 million with DuPont having two- thirds ownership.
• Six Sigma is the cornerstone of DuPont's productivity initiatives. The program is ahead of
  schedule with 750 trained experts and anticipated project benefits in excess of $150 million annualized. In 2000, 20 percent of the Six Sigma projects will be directly focused on revenue. 

Information presented during today's briefing will be available at the company website, 
http://www.dupont.com/corp/ir/index.html. Click on "Presentations to Analysts.''

DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 65 countries and has 97,000 employees.

Company news release
N2530