Corning Files Preliminary Proxy Statement.

Business Editors

CORNING, N.Y.--(BUSINESS WIRE)--Sept. 14, 2000

Corning Incorporated (NYSE:GLW), a leading manufacturer of fiber-optic technologies used to create the world's communications network, announced that it filed today a preliminary proxy statement with the Securities and Exchange Commission for a special shareholders' meeting to be held on November 8, 2000 to approve two proposals that management and the Board of Directors believe will enable the company to compete even more effectively in the high-growth markets in which it operates.

In the first proposal, the company will seek to increase the number of authorized shares from 1.2 billion to 3.8 billion. The increase in authorized shares will allow Corning flexibility for further acquisitions and stock splits. The company said the proposed increase in authorized shares will have no effect on its previously announced three-for-one stock split. The new shares from the split will be issued on October 3, 2000, increasing the number of common shares issued to approximately 957 million. As of June 30, 2000, Corning had approximately 319 million common shares issued.

In the second proposal, the company will seek to update its Employee Equity Participation Program in order to enhance its ability to attract and retain employees in a highly competitive environment. Corning noted it has doubled the size of its worldwide employee workforce within the past year through acquisitions and internal growth. The new Employee Equity Participation Program is designed to enable Corning to provide equity incentives as a vital component of its total compensation program.

Corning shareholders of record on September 19, 2000 will be entitled to vote at the special shareholders' meeting.

Roger G. Ackerman, Corning's chairman and CEO, said, "Corning is experiencing one of the most successful and dynamic periods in its 149-year history. These two proxy proposals will provide the resources necessary for us to continue to grow as we head into 2001 and beyond."

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 1999 were $4.7 billion.

Forward-Looking Cautionary Statements

Except for historical information and discussions contained herein, statements included in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause results to differ materially, as discussed in the company's filing with the Securities and Exchange Commission.