Corning Incorporated Issues $300 Million of Debt Securities.

CORNING, N.Y.--(BUSINESS WIRE)--Feb. 26, 1999--Corning Incorporated (NYSE:GLW) said today that it has sold $300 million of bonds. Specifically, the company priced $150 million of Notes with a 6.30% coupon due in 2009, and $150 million of Debentures with a 6.85% coupon due in 2029.

These debt securities are being issued under a shelf registration statement previously filed with the Securities and Exchange Commission. This debt offering is co-managed by Goldman, Sachs & Co. and J.P. Morgan & Co.

Corning said the proceeds will be used for general corporate purposes, including the repayment of commercial paper as it matures, the repayment of $100 million principal amount of 8.75% Debentures due July 15, 1999, working capital, funding of a portion of its normal ongoing capital spending program and acquisitions.

Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic components 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 total revenues in 1998 were $3.5 billion. More information on the company is available at www.corning.com, Corning's website.