DuPont today announced two strategic efforts to aggressively and rapidly build its life sciences portfolio.

First, the company said that it is actively seeking alliances with other strong partners in the
pharmaceuticals industry. "Our goal is to bring our already solid DuPont Pharmaceuticals to critical mass through strategic alliances,'' said Charles O. Holliday Jr., DuPont chairman and CEO. "Given the success of our discussions to date, we expect to be able to conclude one or more of these alliances by the end of this year.''

Additionally, the company said its board has authorized actions toward the creation and issuance of a "tracking'' stock for its life sciences businesses to give DuPont the financial flexibility to more
advantageously participate in industry consolidation trends and expand the portfolio without undue
dilution to earnings. Such action would require shareholder approval. The company anticipates that the earliest it could file a registration statement with the Securities and Exchange Commission for the stock would be in late 1999, then requesting shareholder approval in the following quarter.

Tracking stock - sometimes called targeted or letter stock - is a useful financial tool to companies
with distinct businesses that are valued differently by investors. The two classes of common stock would offer investors two investment options in DuPont, while the company would remain unified in its technology and management. Tax consequences of the strategy are currently a subject of legislative debate as part of the Clinton Administration's fiscal 2000 budget.

"Our governing objective is to increase shareholder value,'' Holliday said. ``Growth toward critical
mass in our life sciences portfolio is an imperative. Today's announcement is further evidence of our commitment to transform DuPont into a faster growing, more profitable and less cyclical company.''

DuPont's life sciences portfolio includes DuPont Pharmaceuticals, Crop Protection Products and the recently formed Nutrition & Health business. Nutrition & Health includes Protein Technologies
International, Qualicon Inc., the alliances with Pioneer Hi-Bred International, and the company's
biotechnology research and development efforts focused on agriculture, food and nutrition.

Sales in 1998 for DuPont life sciences businesses totaled $4.3 billion, including the pro-rata share of equity affiliate sales. After-tax operating income reached $515 million, excluding nonrecurring charges of $926 million principally related to the write-off of purchased in-process research and development.

Founded in 1802, DuPont is a global science and technology-based company. DuPont serves
worldwide markets including food and nutrition, health care; agriculture, fashion and apparel; home and construction; electronics; and transportation. The company operates in more than 70 countries and has 92,000 employees.

SOURCE: DuPont

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