Corning Files Universal Shelf Registration Statement.

Business Editors

CORNING, N.Y.--(BUSINESS WIRE)--March 15, 2001

Corning Incorporated (NYSE:GLW) announced today that it has filed a universal shelf registration statement with the Securities and Exchange Commission, that will permit the company, from time to time, to offer and sell various types of securities, up to a value of $5 billion. This new filing is consistent with the company's policy to maintain adequate liquidity for general corporate purposes via access to the public capital markets.

The company previously had filed a $4 billion global shelf registration in August 2000. Financing under that shelf was subsequently depleted in November 2000 as a result of Corning's acquisition of Pirelli S.p.A.'s optical components and devices business.

Securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. This news release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of that state.

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 2000 were $7.1 billion.

-0- Forward-Looking Cautionary Statements:

Except for historical information and discussions contained herein, statements included in this release may 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 the results to differ materially, as discussed in the company's filing with the Securities and Exchange Commission.