                          E.I. DU PONT DE NEMOURS

                                3/21/94


                      Stock    Latest      52 week     YTD Pr    Div  Gross
                      Rating    Price   --- Range ---    Chg     Rate Yield
E.I. du Pont de Nemour  RL      58.75       60-44        22      1.76  3.0

                                 Est.        - Interim EPS -    -EBITDA 94-
          FY/IP       EPS93     EPS94 PE94   --Next- -YrAgo-    per/sh  p/e
DD        12/01Q      2.45R      3.25 18.1       n/a     n/a     10.64  5.5

1.  At a company-sponsored investor meeting, DD indicated that its BASE
CHEMICALS/SPECIALTIES BUSINESS IS STRONGER ACROSS THE BOARD.  Volumes
are particularly strong in Ag Chemicals (up 15%), TiO2 (up over 5%),
biomedical and auto (up 8%-10%).  Prices are no longer falling.  Fixed
cost reduction is in full swing with peak year-over-year benefits in
1994 and 1995.

2.  MANAGEMENT COMPENSATION FOR 1994 IS BEING TIED STRONGLY TO EARNINGS
WHEREAS LAST YEAR IT WAS TIED TO CASH FLOW.  Last year's cash flow came
in above expectations.  Analysts believe this year's earnings could do
the same. The $3.25 estimate for 1994 could be low by $0.10 to $0.20,
possibly more.

3.  DD STRONGLY SUGGESTED THAT ABSENT UNEXPECTED ISSUES, A DIVIDEND
INCREASE WAS LIKELY IN 1994.  Analysts expect a 5-8% increase barring
unforeseens.

4.  DD HAS EARLIER IDENTIFIED SEVERAL NON-CORE CHEMICALS/SPECIALTIES
BUSINESSES AS PROBATIONARY.  They total $5 to $6 billion in revenue, and
are either not earning cost-of-capital or not strategic.  The CEO said
that one of the reasons for the selection of the new CFO was his
experience in selling businesses.  Based on comments from management,
analysts believe several businesses could be sold.  Analysts believe
sale of nonstrategic businesses could be anti-dilutive, and, at its
extreme, could raise the peak earnings to $6/share from a base case of
$5.20/share if the proceeds were to be used to buy back shares.

5.  At this company sponsored meeting, the CEO was asked about the
outlook for Seagram's ownership of DD stock. (At current prices this
roughly 24% stake is worth $9.5 billion).  The CEO said DD was
evaluating several options to address any eventuality regarding such
ownership.  He said DD had the right of first refusal should Seagrams
decide to reduce its ownership in DD.

6.  At the meeting, DD said Cozaar, a new generation ACE inhibitor being
developed along with Merck, could be a blockbuster $1 billion drug at
its peak.  It expects commercialization to start in late 1994 in some
foreign countries and in 1995 in the US, pending approval.  Our drug
analyst has less optimistic projections.  Our estimates for DD peak
earnings exclude any contribution from Cozaar pending approval.
Regardless of whether Cozaar is a 'good' or 'excellent' product, it
SHOULD contribute to the bottom line by 1996 and thus be additive to
estimates.  DD says its profit sharing with Merck will be skewed in
favor of Merck for the first few years to allow recovery of
developmental money put in by Merck. Subsequently DD's share of the
profits will increase.  Analysts estimate a $0.05 to $0.10/share EPS
benefit by 1998 assuming $700 million revenue and 25% margins and
assuming a 25% to 50% DD share of profits by then.


