Exhibit 99.17

Kodak Announces Expiration of its Option Exchange Program for Employees

ROCHESTER, N.Y., February 26, 2002 - Eastman Kodak Company announced today that
the offer under its employee stock option tender offer exchange program expired
at 11:59 P.M. Eastern time (U.S.) on February 22, 2002. The outstanding current
options properly tendered for exchange by eligible employees have been accepted.
Pursuant to the offer, eligible employees tendered for exchange outstanding
current options to acquire approximately 25,728,667 shares of Common Stock. On
the terms and conditions set forth in the offer, Kodak will grant new options to
those eligible employees on or about August 26, 2002 (the first business day at
least six months and one day from the Expiration Date). The new options will be
issued with a grant (exercise) price equal to the mean between the high and low
trading price of the Kodak Comon Stock on the New York Stock Exchange on the
date the new options are granted (or as modified to comply with local laws for
new options granted outside the United States) and otherwise subject to the
terms and conditions of the Offer.

The option exchange program applied to all outstanding options held by eligible
employees, including the two all-employees grants made in 1998 and 2000, with
respective grant prices of $65.91 and $53.94. The five highest-ranking officers
of the company are excluded from participating in the exchange program.

The program is structured to comply with the Financial Standards Accounting
Board guidelines in order to achieve the same accounting treatment as the
original option grants.

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Editor's Note: For additional information about Kodak, visit our web site on the
Internet at: www.kodak.com/