DuPont Reports First Quarter 2001 Earnings

Summary

- First quarter 2001 underlying earnings of $.54 per share were in line

with expectations, but 36 percent below first quarter 2000 earnings

of $.85 per share.



- Segment sales in first quarter 2001 of $7.6 billion decreased 9

percent versus first quarter 2000. This reflects 7 percent lower

volume and 2 percent lower U.S. dollar selling prices.



- First quarter underlying after-tax operating income (ATOI) was $734

million, 33 percent below first quarter 2000. ATOI margin was 10

percent.



- Pharmaceuticals accounted for approximately one-third of the

underlying ATOI decline. Excluding Pharmaceuticals, ATOI reductions

also reflect a $165 million impact from higher raw material costs

and $100 million from lower sales volume.



- Worldwide local currency selling prices were up 1 percent. Adverse

currency effects, principally from the weaker euro and Japanese yen,

reduced first quarter worldwide segment sales by 3 percent.



- Actions leading to business restructurings and personnel reductions

to better align resources with the specific mission of each business

are under way. One-time charges associated with these initiatives

will be taken in the second quarter and have no impact on first

quarter results.



Earnings Comparisons

($ per share diluted)





1Q'01 1Q'00

Underlying .54 .85

One-Time Items (.07) (.09)

Reported .47 .76



Apr 24, 2001, 01:00 ET from DuPont

    WILMINGTON, Del., April 24 /PRNewswire Interactive News Release/ --
 DuPont reported earnings before one-time items, of $.54 per share for the
 first quarter, compared to $.85 per share earned last year.
     "We are taking the right steps to manage through a global economic
 slowdown," said Charles O. Holliday, Jr., DuPont chairman and chief executive
 officer.  "As we take these steps, we are managing operating costs and capital
 spending in line with current economic conditions and streamlining businesses
 to sharpen competitiveness."
 
     Global Sales and Income Highlights
     For the quarter, consolidated sales totaled $6.9 billion compared to
 $7.6 billion in 2000.  Segment sales, including transfers and a pro rata share
 of sales by equity affiliates, were $7.6 billion, down 9 percent from
 $8.3 billion in 2000.  Net income was $495 million versus $803 million in
 2000, resulting in earnings per share of $.47 compared to $.76 last year.  The
 earnings decline reflects significantly lower Pharmaceuticals results and
 reduced earnings across the company's chemicals and materials segments.  The
 latter resulted principally from lower U.S. sales volumes, higher raw material
 costs, and a stronger U.S. dollar.
     Net income before one-time items was $567 million, compared to
 $898 million in the first quarter of 2000, down $331 million or 37 percent.
 One-time items are described in the notes to the accompanying financial
 statements and are summarized in the table below:
 
                                       ONE-TIME ITEMS
                      $MM Pretax        $MM After-Tax          ($ Per Share)
                    2001      2000      2001      2000        2001      2000
     Pioneer -
      In-Process
      R&D Revision             11                  11                    .01
     Pioneer -
      Purchase
      Accounting   (133)     (347)      (83)     (215)        (.08)     (.20)
     Asset Sale -
      Equity
      Securities              176                 109                    .10
     Adoption of
      SFAS 133*      19                  11                    .01
     1st Quarter
      - Total      (114)     (160)      (72)      (95)        (.07)     (.09)
 
     *   Reflects the cumulative effect of a change in accounting principle.
         Effective January 1, 2001, the company adopted SFAS 133 - "Accounting
         for Derivative Instruments and Hedging Activities," as amended.
 
     Regional segment sales and related variances for the first quarter 2001
 compared with the first quarter 2000 are summarized below:
 
                                 FIRST  QUARTER
     Segment Sales% Change Due To
 
                     Q1'01 % Change   Local  Currency  Volume  Pharmaceuticals/
                      $B    vs.Q1 '00 Price   Effect               Other*
     Worldwide       7.6     (9)       1      (3)       (4)        (3)
     U.S.            3.7    (13)       1       0        (9)        (5)
     Europe          2.1     (3)       3      (7)        1          0
     Asia Pacific    1.1     (1)       1      (4)        2          0
     Canada, Mexico,
     S. America      0.7     (9)       2      (2)       (9)         0
 
     --  Includes impact from reduced ownership in DuPont Photomasks.  In
         addition, the Pharmaceuticals segment has been isolated for purposes
         of this analysis.
 
     --  Worldwide volumes declined 7 percent, including a 2 percent decline
         attributable to pharmaceuticals and 1 percent from portfolio changes.
 
     --  U.S. first quarter sales volume (excluding Pharmaceuticals/Other)
         declined 9 percent versus 2000 principally reflecting lower volumes
         of fibers, automotive finishes, and white pigments.
 
     --  European volume was up 1 percent and local currency prices up 3
         percent.  However, the stronger dollar reduced European sales by 7
         percent.
 
     --  Asia Pacific sales decreased 1 percent, the first decline since the
         economic downturn in 1998.  Marginally higher volume and local prices
         were more than offset by the negative impact of weaker currencies,
         particularly the Japanese yen.
 
     Six Sigma
     At the end of the current quarter, there were about 1,200 trained Black
 Belts and over 3,600 active projects.  The potential pretax benefit from
 active projects was $700 million, about the same as at year-end.  The actual
 annualized pretax benefit of completed projects at the end of the current
 quarter was $490 million, compared to $370 million at year-end.
 
     Business Segment Performance
     Summarized below are comments on individual segment first quarter 2001
 results excluding one-time items, compared to first quarter 2000 :
 
     --  Performance Coatings & Polymers - Sales were 12 percent lower than
         2000 reflecting lower vehicle builds and lower refinish sales in the
         United States, as well as the weak euro.  Increased raw material
         costs were a significant factor in lower results in Engineering
         Polymers and Elastomers, in addition to lower volumes.  Segment ATOI
         declined 26 percent.
 
     --  Specialty Fibers - Sales and ATOI were 5 percent and 22 percent
         lower, respectively.  Continued earnings growth from Advanced Fiber
         Systems only partly offset lower Lycra(R) elastane earnings, which
         were adversely affected by lower U.S. dollar prices, higher raw
         material costs, and lower volume.  Earnings for Nonwovens were
         essentially flat on modestly higher sales.
 
     --  Specialty Polymers - ATOI increases in Fluoropolymers and the
         Electronic Technologies unit of DuPont iTechnologies only partly
         offset a decline in Packaging & Industrial Polymers earnings
         resulting from lower volumes and higher ethane costs.  Results also
         declined in DuPont Surfaces and the Imaging Technologies unit of
         DuPont iTechnologies.  Segment earnings decreased 21 percent on
         5 percent lower sales.
 
     --  Pigments & Chemicals - ATOI declined 24 percent on 1 percent lower
         sales reflecting lower earnings in all strategic business units.
         Three percent lower worldwide volume was partly offset by 2 percent
         higher U.S. dollar prices.  Segment earnings were negatively affected
         by high chlorine and energy costs in White Pigment & Mineral Products
         and by a litigation settlement in DuPont Chemical Solutions
         Enterprise.
 
     --  Polyester Enterprise - Sales were 4 percent lower, reflecting
         continuing depressed conditions in worldwide fibers markets.  Margins
         continue to be reduced by lower prices and higher raw material and
         energy costs, resulting in a first quarter loss of $8 million.
 
     --  Nylon Enterprise - Sales decreased 13 percent and ATOI declined
         86 percent, principally reflecting the impact of a 40 percent
         increase in raw material costs (largely natural gas related), 15
         percent lower volumes, and less favorable product mix.  Sales
         declines were principally due to lower flooring and apparel volumes,
         particularly in the United States.
 
     --  Agriculture & Nutrition - Sales declined 3 percent and ATOI fell
         23 percent reflecting lower earnings in both Crop Protection and
         Nutrition & Health.  Crop Protection earnings were significantly
         affected by currency in Europe and Asia, and by a litigation
         settlement.  Nutrition & Health results reflect high natural gas
         prices and weaker European volumes.
 
     --  Pioneer - Worldwide sales increased slightly, reflecting strong early
         season sales in the United States and southern Europe, partly offset
         by lower U.S. dollar prices due to the weak euro.  Earnings increased
         17 percent reflecting improved margins and a more favorable product
         mix.
 
     --  Pharmaceuticals - The loss of $64 million was primarily due to lower
         sales, as wholesaler inventories in the distribution channel continue
         to be reduced.  Underlying demand for Sustiva(TM) efavirenz and
         Cardiolite(R) cardiac imaging agent grew 15 percent, and the
         Coumadin(R) (warfarin sodium tablets, USP) crystalline market
         position remains strong.  The DuPont share of Cozaar(R)/Hyzaar(R)
         U.S. operating profits increased this quarter as of February 1.  R&D
         and marketing expenses increased as planned.  Major product sales are
         shown below:
 
        ($ in millions)                      1Q 2001         1Q 2000
     Coumadin(R)                                26             100
     Sustiva(TM)                                55              96
     Cardiolite(R)/Miraluma(TM)                 18              40
 
     Outlook
     Based on demand signals observed in the first quarter in key markets, the
 company now anticipates that the global economic slowdown will similarly
 impact the manufacturing sector through the second quarter and perhaps into
 the second half of 2001.  In the second quarter the company expects continued
 volume pressure due to macro economic factors; stabilizing energy and raw
 material costs, albeit at a higher level than second quarter last year; and
 normal seasonality for its portfolio of businesses.
 
     --  The company expects second quarter volumes to remain below 2000
         levels in the United States in its chemical and materials businesses,
         although sequential declines should moderate considerably.  In Europe
         and Asia, year-over-year volume growth is approaching zero, and
         continued strength of the U.S. dollar will likely result in negative
         revenue comparisons in the second quarter.
 
     --  The agriculture related segments, as expected, are operating in a
         difficult U.S. farm economy and experiencing negative currency
         impacts during the first half selling season.  In addition, poor
         weather conditions in North America, together with high fertilizer
         costs, are expected to result in lower corn acreage than last year.
         Accordingly, the company expects the full-year operating outlook for
         these segments will be moderately negative versus 2000.
 
     --  Pharmaceuticals segment sales and earnings should improve in the
         second quarter, but ATOI losses are again expected.  A return to more
         normal levels of sales and earnings is expected in the second half of
         the year.
 
     The economic outlook for the second half of 2001 remains uncertain.
 However, key indicators suggest that declines in U.S. manufacturing and global
 automotive markets may be moderating.  The company is encouraged by these
 trends, but continues to plan for a second half economy that is on balance,
 similarly challenging to the second half of last year.
     "We will emerge from the current economic turbulence an even stronger
 company," Holliday said.  "We have accelerated operational initiatives begun
 last year to manage costs and we are directing resources to businesses having
 the best long-term growth potential."
 
     Forward-Looking Statements:  This news release contains forward-looking
 statements based on management's current expectations, estimates and
 projections.  All statements that address expectations or projections about
 the future, including statements about the company's strategy for growth,
 product development, market position, expected expenditures and financial
 results are forward-looking statements.  Some of the forward-looking
 statements may be identified by words like "expects," "anticipates," "plans,"
 "intends," "projects," "indicates," and similar expressions.  These statements
 are not guarantees of future performance and involve a number of risks,
 uncertainties and assumptions.  Many factors, including those discussed more
 fully elsewhere in this release and in documents filed with the Securities and
 Exchange Commission by DuPont, particularly its latest annual report on Form
 10-K and quarterly report on Form 10-Q, as well as others, could cause results
 to differ materially from those stated.  These factors include, but are not
 limited to changes in the laws, regulations, policies and economic conditions,
 including inflation, interest and foreign currency exchange rates, of
 countries in which the company does business; competitive pressures;
 successful integration of structural changes, including restructuring plans,
 acquisitions, divestitures and alliances; cost of raw materials, research and
 development of new products, including regulatory approval and market
 acceptance; and seasonality of agricultural products.
 
     More information about segment results and highlights may be accessed on
 www.dupont.com via the "For Investors" web page.
 
 
 
                                               Three Months Ended
     CONSOLIDATED INCOME STATEMENT                  March 31
     (Dollars in millions, except per share)  2001             2000
 
     SALES                                  $6,859           $7,593
     Other Income(a)                           170              348
 
         Total                               7,029            7,941
 
     Cost of Goods Sold
      and Other Expenses(b)                  4,486            4,856
     Selling, General and
      Administrative Expenses                  757              757
     Depreciation                              327              351
     Amortization of Goodwill
      and Other Intangible Assets              112              107
     Research and Development Expense          410              421
     Interest and Debt Expense                 178              201
     Purchase In-Process
      Research and Development(c)               --             (11)
 
         Total                               6,270            6,682
 
     INCOME BEFORE INCOME
      TAXES AND MINORITY INTERESTS             759            1,259
     Provision for Income Tax Expenses         272              439
     Minority Interests in Earnings
      of Consolidated Subsidiaries               3               17
 
     INCOME BEFORE CUMULATIVE EFFECT OF A CHANGE IN
      ACCOUNTING PRINCIPLE                     484              803
     Cumulative Effect of a Change
      in Accounting Principle,
      Net of Income Taxes(d)                    11                -
 
     NET INCOME                               $495             $803
 
 
     BASIC EARNINGS PER
      SHARE OF COMMON STOCK(e)
        Income before Cumulative
         Effect of a Change in
         Accounting Principle                 $.46             $.76
        Cumulative Effect of a
         Change in Accounting Principle        .01                -
 
        Net Income                            $.47             $.76
 
     DILUTED EARNINGS PER SHARE
      OF COMMON STOCK(e)
         Income before Cumulative
          Effect of a Change
          in Accounting Principle             $.46             $.76
         Cumulative Effect of a
          Change in Accounting Principle       .01                -
 
         Net Income                           $.47             $.76
 
     DIVIDENDS PER SHARE
      OF COMMON STOCK                         $.35             $.35
 
     FOOTNOTES TO CONSOLIDATED INCOME STATEMENT
 
     (a)  First quarter 2000 includes a $176 gain resulting from the sale by
          Pioneer of certain equity securities classified as available for
          sale.
 
     (b)  In accordance with purchase accounting rules applied to the
          acquisition of the remaining 80 percent ownership interest in
          Pioneer on October 1, 1999, Pioneer inventory was increased to fair
          value.  This inventory step-up generates noncash charges to cost of
          goods sold as the inventory on hand at the acquisition date is sold.
          Charges in first quarter 2001 and 2000 were $133 and $347,
          respectively.
 
     (c)  Purchased in-process research and development represents the value
          assigned in a purchase business combination to research and
          development projects of the acquired business that were commenced
          but not yet completed at the date of acquisition, for which
          technological feasibility has not yet been established, and which
          have no alternative future use in research and development
          activities or otherwise.  During first quarter 2000, a credit of $11
          was recorded based on revisions of preliminary purchase price
          allocations associated with the October 1, 1999 purchase of the
          remaining 80 percent ownership interest in Pioneer.
 
     (d)  On January 1, 2001, the company adopted SFAS No. 133, "Accounting
          for Derivative Instruments and Hedging Activities," as amended.
 
     (e)  Earnings per share are calculated on the basis of the following
          average number of common shares outstanding:
 
                                          Three Months Ended
                                               March 31
                                        Basic              Diluted
            2001                   1,042,168,259        1,047,973,561
            2000                   1,047,036,515        1,057,077,345
 
 
                                              Three Months Ended
     CONSOLIDATED SEGMENT INFORMATION(a)           March 31
     (Dollars in millions)                 2001                 2000
 
     SEGMENT SALES(b)
     Agriculture & Nutrition               $609                  $628
     Nylon Enterprise                       960                 1,109
     Performance Coatings & Polymers      1,458                 1,653
     Pharmaceuticals                        205                   389
     Pigments & Chemicals                   951                   960
     Pioneer                                929                   921
     Polyester Enterprise                   545                   567
     Specialty Fibers                       858                   905
     Specialty Polymers                   1,039                 1,091
     Other                                   81                   123
 
         Total Segment Sales              7,635                 8,346
 
     Elimination of
      Intersegment Transfers               (146)                 (159)
     Elimination of Equity
      Affiliate Sales                      (628)                 (595)
     Miscellaneous                           (2)                    1
 
         CONSOLIDATED SALES              $6,859                $7,593
 
     AFTER-TAX OPERATING INCOME (LOSS)
     Agriculture & Nutrition                $48                   $62
     Nylon Enterprise                        12                    87
     Performance Coatings & Polymers        132                   179
     Pharmaceuticals                        (64)                   54
     Pigments & Chemicals                   124                   164
     Pioneer(c)                             118                    77
     Polyester Enterprise                    (8)                    9
     Specialty Fibers                       156                   201
     Specialty Polymers                     130                   165
     Other                                    3                    --
 
     Total Segment ATOI                     651                   998
 
     Interest & Exchange Gains
      and Losses                            (97)                 (123)
     Corporate Expenses                     (70)                  (72)
 
     INCOME FROM OPERATIONS                $484                  $803
 
 
     (a)  Certain reclassifications of segment data have been made to reflect
           changes in organizational structure.
 
     (b)  Includes pro rata share of equity affiliate sales and intersegment
           transfers.  Excludes sales of intermediates by DuPont to joint
           ventures within the Nylon Enterprise and Polyester Enterprise
           segments.
 
     (c)  Includes noncash charges of $83 and $215 for first quarter 2001 and
           2000, respectively, resulting from the sale of acquired Pioneer
           inventories which, in accordance with purchase accounting rules,
           were recorded at fair value on October 1, 1999.  The first quarter
           2000 charge was partly offset by a $109 gain resulting from the
           sale of certain equity securities classified as available for sale
           and a credit of $11 to reduce the preliminary purchase price
           allocated to acquired in-process research and development.
 
     SEGMENT SALES(a)
     (1ST QUARTER 2001 VS. 1ST QUARTER 2000)
 
                             Segment Sales
                                  Three           Percentage Change Due to:
                              Months Ended
                                March 31      U.S. $
                              $      Change    Price      Volume    Other(b)
 
     Agriculture
      & Nutrition           $609       (3)      (5)          2
     Nylon Enterprise        960      (13)       2         (15)
     Performance Coatings
      & Polymers           1,458      (12)      (3)         (9)
     Pharmaceuticals         205      (47)       0         (47)
     Pigments & Chemicals    951       (1)       2          (3)
     Pioneer                 929        1       (2)          3
     Polyester Enterprise    545       (4)      (4)          0
     Specialty Fibers        858       (5)      (6)          1
     Specialty Polymers    1,039       (5)       2          (7)
     Other                    81      (34)       0           0       (34)
 
         Total            $7,635       (9)      (2)         (7)
 
     (a)  Includes intersegment transfers and pro rata share of equity
          affiliate sales.
 
     (b)  Reflects reduced interest in DuPont Photomasks, Inc.
 
 
     SEGMENT INFORMATION                Three Months Ended
     EXCLUDING IMPACT OF
      ONE-TIME ITEMS -                       March 31
     (Dollars in millions)              2001        2000          % Chg.
 
     AFTER-TAX OPERATING INCOME (LOSS)
     Agriculture & Nutrition             $48         $62           (23)
     Nylon Enterprise                     12          87           (86)
     Performance Coatings & Polymers     132         179           (26)
     Pharmaceuticals                     (64)         54           N/M
     Pigments & Chemicals                124         164           (24)
     Pioneer                             201         172            17
     Polyester Enterprise                 (8)          9           N/M
     Specialty Fibers                    156         201           (22)
     Specialty Polymers                  130         165           (21)
     Other                                 3           -           N/M
 
         Total Segment ATOI              734       1,093           (33)
 
     Interest & Exchange Gains (Loss)    (97)       (123)
     Corporate Expenses                  (70)        (72)
 
         INCOME FROM OPERATIONS         $567        $898           (37)
 
     FINANCIAL SUMMARY
    (Dollars in millions, except per share)
 
     Selected Income Statement Data -
     Excluding Impact of
      One-Time Items and
      Cumulative Effect of                 Three Months Ended
      a Change in Accounting                    March 31
      Principle                     2001           2000         % Chg.
 
     Consolidated Sales            $6,859         $7,593         (10)%
     Segment Sales                  7,635          8,346          (9)
     Segment ATOI                     734          1,093         (33)
     EBIT                           1,086          1,636         (34)
     EBITDA                         1,525          2,094         (27)
     Income from Operations           567            898         (37)
     EPS - Diluted                   0.54           0.85         (36)
 
                                           1st Quarter 2001 Vs.
                                             1st Quarter 2000
 
     Segment ATOI Variance Analysis -
     Excluding Impact of One-Time Items
 
     Local Prices                                  $75
     Volume                                       (230)
     Costs                                        (167)
     Other                                          13
     Currency                                      (50)
 
     Total                                       $(359)
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X92437126
 
 

SOURCE DuPont
    WILMINGTON, Del., April 24 /PRNewswire Interactive News Release/ --
 DuPont reported earnings before one-time items, of $.54 per share for the
 first quarter, compared to $.85 per share earned last year.
     "We are taking the right steps to manage through a global economic
 slowdown," said Charles O. Holliday, Jr., DuPont chairman and chief executive
 officer.  "As we take these steps, we are managing operating costs and capital
 spending in line with current economic conditions and streamlining businesses
 to sharpen competitiveness."
 
     Global Sales and Income Highlights
     For the quarter, consolidated sales totaled $6.9 billion compared to
 $7.6 billion in 2000.  Segment sales, including transfers and a pro rata share
 of sales by equity affiliates, were $7.6 billion, down 9 percent from
 $8.3 billion in 2000.  Net income was $495 million versus $803 million in
 2000, resulting in earnings per share of $.47 compared to $.76 last year.  The
 earnings decline reflects significantly lower Pharmaceuticals results and
 reduced earnings across the company's chemicals and materials segments.  The
 latter resulted principally from lower U.S. sales volumes, higher raw material
 costs, and a stronger U.S. dollar.
     Net income before one-time items was $567 million, compared to
 $898 million in the first quarter of 2000, down $331 million or 37 percent.
 One-time items are described in the notes to the accompanying financial
 statements and are summarized in the table below:
 
                                       ONE-TIME ITEMS
                      $MM Pretax        $MM After-Tax          ($ Per Share)
                    2001      2000      2001      2000        2001      2000
     Pioneer -
      In-Process
      R&D Revision             11                  11                    .01
     Pioneer -
      Purchase
      Accounting   (133)     (347)      (83)     (215)        (.08)     (.20)
     Asset Sale -
      Equity
      Securities              176                 109                    .10
     Adoption of
      SFAS 133*      19                  11                    .01
     1st Quarter
      - Total      (114)     (160)      (72)      (95)        (.07)     (.09)
 
     *   Reflects the cumulative effect of a change in accounting principle.
         Effective January 1, 2001, the company adopted SFAS 133 - "Accounting
         for Derivative Instruments and Hedging Activities," as amended.
 
     Regional segment sales and related variances for the first quarter 2001
 compared with the first quarter 2000 are summarized below:
 
                                 FIRST  QUARTER
     Segment Sales% Change Due To
 
                     Q1'01 % Change   Local  Currency  Volume  Pharmaceuticals/
                      $B    vs.Q1 '00 Price   Effect               Other*
     Worldwide       7.6     (9)       1      (3)       (4)        (3)
     U.S.            3.7    (13)       1       0        (9)        (5)
     Europe          2.1     (3)       3      (7)        1          0
     Asia Pacific    1.1     (1)       1      (4)        2          0
     Canada, Mexico,
     S. America      0.7     (9)       2      (2)       (9)         0
 
     --  Includes impact from reduced ownership in DuPont Photomasks.  In
         addition, the Pharmaceuticals segment has been isolated for purposes
         of this analysis.
 
     --  Worldwide volumes declined 7 percent, including a 2 percent decline
         attributable to pharmaceuticals and 1 percent from portfolio changes.
 
     --  U.S. first quarter sales volume (excluding Pharmaceuticals/Other)
         declined 9 percent versus 2000 principally reflecting lower volumes
         of fibers, automotive finishes, and white pigments.
 
     --  European volume was up 1 percent and local currency prices up 3
         percent.  However, the stronger dollar reduced European sales by 7
         percent.
 
     --  Asia Pacific sales decreased 1 percent, the first decline since the
         economic downturn in 1998.  Marginally higher volume and local prices
         were more than offset by the negative impact of weaker currencies,
         particularly the Japanese yen.
 
     Six Sigma
     At the end of the current quarter, there were about 1,200 trained Black
 Belts and over 3,600 active projects.  The potential pretax benefit from
 active projects was $700 million, about the same as at year-end.  The actual
 annualized pretax benefit of completed projects at the end of the current
 quarter was $490 million, compared to $370 million at year-end.
 
     Business Segment Performance
     Summarized below are comments on individual segment first quarter 2001
 results excluding one-time items, compared to first quarter 2000 :
 
     --  Performance Coatings & Polymers - Sales were 12 percent lower than
         2000 reflecting lower vehicle builds and lower refinish sales in the
         United States, as well as the weak euro.  Increased raw material
         costs were a significant factor in lower results in Engineering
         Polymers and Elastomers, in addition to lower volumes.  Segment ATOI
         declined 26 percent.
 
     --  Specialty Fibers - Sales and ATOI were 5 percent and 22 percent
         lower, respectively.  Continued earnings growth from Advanced Fiber
         Systems only partly offset lower Lycra(R) elastane earnings, which
         were adversely affected by lower U.S. dollar prices, higher raw
         material costs, and lower volume.  Earnings for Nonwovens were
         essentially flat on modestly higher sales.
 
     --  Specialty Polymers - ATOI increases in Fluoropolymers and the
         Electronic Technologies unit of DuPont iTechnologies only partly
         offset a decline in Packaging & Industrial Polymers earnings
         resulting from lower volumes and higher ethane costs.  Results also
         declined in DuPont Surfaces and the Imaging Technologies unit of
         DuPont iTechnologies.  Segment earnings decreased 21 percent on
         5 percent lower sales.
 
     --  Pigments & Chemicals - ATOI declined 24 percent on 1 percent lower
         sales reflecting lower earnings in all strategic business units.
         Three percent lower worldwide volume was partly offset by 2 percent
         higher U.S. dollar prices.  Segment earnings were negatively affected
         by high chlorine and energy costs in White Pigment & Mineral Products
         and by a litigation settlement in DuPont Chemical Solutions
         Enterprise.
 
     --  Polyester Enterprise - Sales were 4 percent lower, reflecting
         continuing depressed conditions in worldwide fibers markets.  Margins
         continue to be reduced by lower prices and higher raw material and
         energy costs, resulting in a first quarter loss of $8 million.
 
     --  Nylon Enterprise - Sales decreased 13 percent and ATOI declined
         86 percent, principally reflecting the impact of a 40 percent
         increase in raw material costs (largely natural gas related), 15
         percent lower volumes, and less favorable product mix.  Sales
         declines were principally due to lower flooring and apparel volumes,
         particularly in the United States.
 
     --  Agriculture & Nutrition - Sales declined 3 percent and ATOI fell
         23 percent reflecting lower earnings in both Crop Protection and
         Nutrition & Health.  Crop Protection earnings were significantly
         affected by currency in Europe and Asia, and by a litigation
         settlement.  Nutrition & Health results reflect high natural gas
         prices and weaker European volumes.
 
     --  Pioneer - Worldwide sales increased slightly, reflecting strong early
         season sales in the United States and southern Europe, partly offset
         by lower U.S. dollar prices due to the weak euro.  Earnings increased
         17 percent reflecting improved margins and a more favorable product
         mix.
 
     --  Pharmaceuticals - The loss of $64 million was primarily due to lower
         sales, as wholesaler inventories in the distribution channel continue
         to be reduced.  Underlying demand for Sustiva(TM) efavirenz and
         Cardiolite(R) cardiac imaging agent grew 15 percent, and the
         Coumadin(R) (warfarin sodium tablets, USP) crystalline market
         position remains strong.  The DuPont share of Cozaar(R)/Hyzaar(R)
         U.S. operating profits increased this quarter as of February 1.  R&D
         and marketing expenses increased as planned.  Major product sales are
         shown below:
 
        ($ in millions)                      1Q 2001         1Q 2000
     Coumadin(R)                                26             100
     Sustiva(TM)                                55              96
     Cardiolite(R)/Miraluma(TM)                 18              40
 
     Outlook
     Based on demand signals observed in the first quarter in key markets, the
 company now anticipates that the global economic slowdown will similarly
 impact the manufacturing sector through the second quarter and perhaps into
 the second half of 2001.  In the second quarter the company expects continued
 volume pressure due to macro economic factors; stabilizing energy and raw
 material costs, albeit at a higher level than second quarter last year; and
 normal seasonality for its portfolio of businesses.
 
     --  The company expects second quarter volumes to remain below 2000
         levels in the United States in its chemical and materials businesses,
         although sequential declines should moderate considerably.  In Europe
         and Asia, year-over-year volume growth is approaching zero, and
         continued strength of the U.S. dollar will likely result in negative
         revenue comparisons in the second quarter.
 
     --  The agriculture related segments, as expected, are operating in a
         difficult U.S. farm economy and experiencing negative currency
         impacts during the first half selling season.  In addition, poor
         weather conditions in North America, together with high fertilizer
         costs, are expected to result in lower corn acreage than last year.
         Accordingly, the company expects the full-year operating outlook for
         these segments will be moderately negative versus 2000.
 
     --  Pharmaceuticals segment sales and earnings should improve in the
         second quarter, but ATOI losses are again expected.  A return to more
         normal levels of sales and earnings is expected in the second half of
         the year.
 
     The economic outlook for the second half of 2001 remains uncertain.
 However, key indicators suggest that declines in U.S. manufacturing and global
 automotive markets may be moderating.  The company is encouraged by these
 trends, but continues to plan for a second half economy that is on balance,
 similarly challenging to the second half of last year.
     "We will emerge from the current economic turbulence an even stronger
 company," Holliday said.  "We have accelerated operational initiatives begun
 last year to manage costs and we are directing resources to businesses having
 the best long-term growth potential."
 
     Forward-Looking Statements:  This news release contains forward-looking
 statements based on management's current expectations, estimates and
 projections.  All statements that address expectations or projections about
 the future, including statements about the company's strategy for growth,
 product development, market position, expected expenditures and financial
 results are forward-looking statements.  Some of the forward-looking
 statements may be identified by words like "expects," "anticipates," "plans,"
 "intends," "projects," "indicates," and similar expressions.  These statements
 are not guarantees of future performance and involve a number of risks,
 uncertainties and assumptions.  Many factors, including those discussed more
 fully elsewhere in this release and in documents filed with the Securities and
 Exchange Commission by DuPont, particularly its latest annual report on Form
 10-K and quarterly report on Form 10-Q, as well as others, could cause results
 to differ materially from those stated.  These factors include, but are not
 limited to changes in the laws, regulations, policies and economic conditions,
 including inflation, interest and foreign currency exchange rates, of
 countries in which the company does business; competitive pressures;
 successful integration of structural changes, including restructuring plans,
 acquisitions, divestitures and alliances; cost of raw materials, research and
 development of new products, including regulatory approval and market
 acceptance; and seasonality of agricultural products.
 
     More information about segment results and highlights may be accessed on
 www.dupont.com via the "For Investors" web page.
 
 
 
                                               Three Months Ended
     CONSOLIDATED INCOME STATEMENT                  March 31
     (Dollars in millions, except per share)  2001             2000
 
     SALES                                  $6,859           $7,593
     Other Income(a)                           170              348
 
         Total                               7,029            7,941
 
     Cost of Goods Sold
      and Other Expenses(b)                  4,486            4,856
     Selling, General and
      Administrative Expenses                  757              757
     Depreciation                              327              351
     Amortization of Goodwill
      and Other Intangible Assets              112              107
     Research and Development Expense          410              421
     Interest and Debt Expense                 178              201
     Purchase In-Process
      Research and Development(c)               --             (11)
 
         Total                               6,270            6,682
 
     INCOME BEFORE INCOME
      TAXES AND MINORITY INTERESTS             759            1,259
     Provision for Income Tax Expenses         272              439
     Minority Interests in Earnings
      of Consolidated Subsidiaries               3               17
 
     INCOME BEFORE CUMULATIVE EFFECT OF A CHANGE IN
      ACCOUNTING PRINCIPLE                     484              803
     Cumulative Effect of a Change
      in Accounting Principle,
      Net of Income Taxes(d)                    11                -
 
     NET INCOME                               $495             $803
 
 
     BASIC EARNINGS PER
      SHARE OF COMMON STOCK(e)
        Income before Cumulative
         Effect of a Change in
         Accounting Principle                 $.46             $.76
        Cumulative Effect of a
         Change in Accounting Principle        .01                -
 
        Net Income                            $.47             $.76
 
     DILUTED EARNINGS PER SHARE
      OF COMMON STOCK(e)
         Income before Cumulative
          Effect of a Change
          in Accounting Principle             $.46             $.76
         Cumulative Effect of a
          Change in Accounting Principle       .01                -
 
         Net Income                           $.47             $.76
 
     DIVIDENDS PER SHARE
      OF COMMON STOCK                         $.35             $.35
 
     FOOTNOTES TO CONSOLIDATED INCOME STATEMENT
 
     (a)  First quarter 2000 includes a $176 gain resulting from the sale by
          Pioneer of certain equity securities classified as available for
          sale.
 
     (b)  In accordance with purchase accounting rules applied to the
          acquisition of the remaining 80 percent ownership interest in
          Pioneer on October 1, 1999, Pioneer inventory was increased to fair
          value.  This inventory step-up generates noncash charges to cost of
          goods sold as the inventory on hand at the acquisition date is sold.
          Charges in first quarter 2001 and 2000 were $133 and $347,
          respectively.
 
     (c)  Purchased in-process research and development represents the value
          assigned in a purchase business combination to research and
          development projects of the acquired business that were commenced
          but not yet completed at the date of acquisition, for which
          technological feasibility has not yet been established, and which
          have no alternative future use in research and development
          activities or otherwise.  During first quarter 2000, a credit of $11
          was recorded based on revisions of preliminary purchase price
          allocations associated with the October 1, 1999 purchase of the
          remaining 80 percent ownership interest in Pioneer.
 
     (d)  On January 1, 2001, the company adopted SFAS No. 133, "Accounting
          for Derivative Instruments and Hedging Activities," as amended.
 
     (e)  Earnings per share are calculated on the basis of the following
          average number of common shares outstanding:
 
                                          Three Months Ended
                                               March 31
                                        Basic              Diluted
            2001                   1,042,168,259        1,047,973,561
            2000                   1,047,036,515        1,057,077,345
 
 
                                              Three Months Ended
     CONSOLIDATED SEGMENT INFORMATION(a)           March 31
     (Dollars in millions)                 2001                 2000
 
     SEGMENT SALES(b)
     Agriculture & Nutrition               $609                  $628
     Nylon Enterprise                       960                 1,109
     Performance Coatings & Polymers      1,458                 1,653
     Pharmaceuticals                        205                   389
     Pigments & Chemicals                   951                   960
     Pioneer                                929                   921
     Polyester Enterprise                   545                   567
     Specialty Fibers                       858                   905
     Specialty Polymers                   1,039                 1,091
     Other                                   81                   123
 
         Total Segment Sales              7,635                 8,346
 
     Elimination of
      Intersegment Transfers               (146)                 (159)
     Elimination of Equity
      Affiliate Sales                      (628)                 (595)
     Miscellaneous                           (2)                    1
 
         CONSOLIDATED SALES              $6,859                $7,593
 
     AFTER-TAX OPERATING INCOME (LOSS)
     Agriculture & Nutrition                $48                   $62
     Nylon Enterprise                        12                    87
     Performance Coatings & Polymers        132                   179
     Pharmaceuticals                        (64)                   54
     Pigments & Chemicals                   124                   164
     Pioneer(c)                             118                    77
     Polyester Enterprise                    (8)                    9
     Specialty Fibers                       156                   201
     Specialty Polymers                     130                   165
     Other                                    3                    --
 
     Total Segment ATOI                     651                   998
 
     Interest & Exchange Gains
      and Losses                            (97)                 (123)
     Corporate Expenses                     (70)                  (72)
 
     INCOME FROM OPERATIONS                $484                  $803
 
 
     (a)  Certain reclassifications of segment data have been made to reflect
           changes in organizational structure.
 
     (b)  Includes pro rata share of equity affiliate sales and intersegment
           transfers.  Excludes sales of intermediates by DuPont to joint
           ventures within the Nylon Enterprise and Polyester Enterprise
           segments.
 
     (c)  Includes noncash charges of $83 and $215 for first quarter 2001 and
           2000, respectively, resulting from the sale of acquired Pioneer
           inventories which, in accordance with purchase accounting rules,
           were recorded at fair value on October 1, 1999.  The first quarter
           2000 charge was partly offset by a $109 gain resulting from the
           sale of certain equity securities classified as available for sale
           and a credit of $11 to reduce the preliminary purchase price
           allocated to acquired in-process research and development.
 
     SEGMENT SALES(a)
     (1ST QUARTER 2001 VS. 1ST QUARTER 2000)
 
                             Segment Sales
                                  Three           Percentage Change Due to:
                              Months Ended
                                March 31      U.S. $
                              $      Change    Price      Volume    Other(b)
 
     Agriculture
      & Nutrition           $609       (3)      (5)          2
     Nylon Enterprise        960      (13)       2         (15)
     Performance Coatings
      & Polymers           1,458      (12)      (3)         (9)
     Pharmaceuticals         205      (47)       0         (47)
     Pigments & Chemicals    951       (1)       2          (3)
     Pioneer                 929        1       (2)          3
     Polyester Enterprise    545       (4)      (4)          0
     Specialty Fibers        858       (5)      (6)          1
     Specialty Polymers    1,039       (5)       2          (7)
     Other                    81      (34)       0           0       (34)
 
         Total            $7,635       (9)      (2)         (7)
 
     (a)  Includes intersegment transfers and pro rata share of equity
          affiliate sales.
 
     (b)  Reflects reduced interest in DuPont Photomasks, Inc.
 
 
     SEGMENT INFORMATION                Three Months Ended
     EXCLUDING IMPACT OF
      ONE-TIME ITEMS -                       March 31
     (Dollars in millions)              2001        2000          % Chg.
 
     AFTER-TAX OPERATING INCOME (LOSS)
     Agriculture & Nutrition             $48         $62           (23)
     Nylon Enterprise                     12          87           (86)
     Performance Coatings & Polymers     132         179           (26)
     Pharmaceuticals                     (64)         54           N/M
     Pigments & Chemicals                124         164           (24)
     Pioneer                             201         172            17
     Polyester Enterprise                 (8)          9           N/M
     Specialty Fibers                    156         201           (22)
     Specialty Polymers                  130         165           (21)
     Other                                 3           -           N/M
 
         Total Segment ATOI              734       1,093           (33)
 
     Interest & Exchange Gains (Loss)    (97)       (123)
     Corporate Expenses                  (70)        (72)
 
         INCOME FROM OPERATIONS         $567        $898           (37)
 
     FINANCIAL SUMMARY
    (Dollars in millions, except per share)
 
     Selected Income Statement Data -
     Excluding Impact of
      One-Time Items and
      Cumulative Effect of                 Three Months Ended
      a Change in Accounting                    March 31
      Principle                     2001           2000         % Chg.
 
     Consolidated Sales            $6,859         $7,593         (10)%
     Segment Sales                  7,635          8,346          (9)
     Segment ATOI                     734          1,093         (33)
     EBIT                           1,086          1,636         (34)
     EBITDA                         1,525          2,094         (27)
     Income from Operations           567            898         (37)
     EPS - Diluted                   0.54           0.85         (36)
 
                                           1st Quarter 2001 Vs.
                                             1st Quarter 2000
 
     Segment ATOI Variance Analysis -
     Excluding Impact of One-Time Items
 
     Local Prices                                  $75
     Volume                                       (230)
     Costs                                        (167)
     Other                                          13
     Currency                                      (50)
 
     Total                                       $(359)
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X92437126
 
 SOURCE  DuPont