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Letter to the Editor

DuPont Canada Reports Record Q2 Sales

DuPont Canada Inc. has announced record results for the second quarter ended June 30, 2002.

Second quarter sales were a record $689 million, up $45 million or seven percent from last year. Export sales of $317 million were up $33 million or 12 percent above second quarter 2001, and domestic sales of $372 million climbed $12 million or three percent.

Three of its five business segments - the Nylon Enterprise, Performance Coatings and Polymers, and Specialty Polymers and Films - increased sales for the quarter. The Performance Coatings and Polymers segment recorded $152 million of sales, which were $22 million or 17 percent over last year.

"These record second quarter sales results are a reassuring follow up to our strong first quarter," said Dave Colcleugh, Chairman, President and Chief Executive Officer of DuPont Canada Inc.

Net earnings for the quarter were $78.5 million or $0.28 per share, a nine percent gain over the $72.3 million or $0.26 per share last year. On a diluted basis, earnings per share increased from $0.25 to $0.28.

The second quarter of 2001 was favourably impacted by a one-time tax adjustment.

Year-to-date sales of $1,263 million were up $80 million or seven percent from 2001. Net earnings were $131.1 million, an increase of $9.8 million or eight percent. Basic earnings per share were up $0.03 to $0.47. Diluted earnings per share were $0.47, compared with $0.43 in 2001.

"Our efforts throughout 2001, to position the company for an improvement in the economic climate, are now paying off", said Dave Colcleugh. "To further the benefits from this upturn, we will continue to strengthen our business portfolio, expand our presence in markets around the world, and use our process-based approach to manage our business to achieve significant efficiency across our value chains."

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