EXHIBIT 12.01

EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS (LOSS) TO FIXED CHARGES

Dollars in millions)		2004		2003		2002		2001		2000
Earnings (loss) before income taxes and cumulative effect of change in accounting principle	$	64	$	(381)	$	84	$	(291)	$	452
Add:
Interest expense		123		130		128		146		142
Appropriate portion of rental expense (1)		21		21		28		28		28
Amortization of capitalized interest		15		12		13		15		15
Earnings (loss) as adjusted	$	223	$	(218)	$	253	$	(102)	$	637
Fixed charges:
Interest expense	$	123	$	130	$	128	$	146	$	142
Appropriate portion of rental expense (1)		21		21		28		28		28
Capitalized interest		3		3		4		5		6
Total fixed charges	$	147	$	154	$	160	$	179	$	176
Ratio of earnings (loss) to fixed charges		1.5x		(A)		1.6x		(B)		3.6x

⁽¹⁾   For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense.

^(A)   Due to the net loss reported, the coverage ratio was less than 1x. To achieve a coverage ratio of 1x, additional pre-tax earnings of $372 million would have been required for 2003.

^(B)   Due to the net loss reported, the coverage ratio was less than 1x. To achieve a coverage ratio of 1x, additional pre-tax earnings of $281 million would have been required for 2001.

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