Corning Announces Plans for Common Stock Offering.

Business Editors

CORNING, N.Y.--(BUSINESS WIRE)--Jan. 11, 2000

Corning Incorporated (NYSE:GLW) announced today that it plans to offer 13 million shares of common stock under its existing $2 billion universal shelf registration statement. Goldman, Sachs & Co. and J.P. Morgan Securities Inc. will lead the planned underwritten offering, as joint book-running managers. In addition, the underwriters will be granted an overallotment option of up to 1,950,000 shares.

The net proceeds from the sale of the common stock will be used to pay for the previously announced acquisition of Siemens' worldwide optical fiber and cable assets, which is expected to close in early 2000, as well as for general corporate purposes. Corning expects to price the equity offering during the week of Jan. 24, 2000.

For a copy of the prospectus relating to these offerings, contact the syndicate department of either of the joint book-running managers.

Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning's revenues in 1998 were $3.5 billion.