Corning Incorporated To Build Second Optical Fiber Manufacturing Facility in North Carolina; World's Leading Supplier Will Use Added Capacity to Meet Market Demand.

CONCORD, N.C.--(BUSINESS WIRE)--August 26, 1996--Corning Incorporated (NYSE:GLW) today announced that Cabarrus County, North Carolina will be the location of its second U.S. Optical fiber manufacturing facility. The world's leading supplier of optical fiber, Corning will use the added capacity to meet the rapidly expanding worldwide requirements of its customers. The company's current U.S. fiber plant, in Wilmington, North Carolina, is the largest fiber-producing plant in the world.

Corning will invest several hundred million dollars in the new facility, which will be located about 17 miles east of Charlotte and 10 miles southeast of Concord near the community of Midland, North Carolina. Construction is expected to begin in early 1997, with initial production scheduled for 1999.

"The growth in worldwide demand for Corning fiber is the primary driver behind our move to build a second plant," said John W. Loose, president, Corning Communications. "Our decision to locate the facility in North Carolina was based on our long and successful history with the state, the availability of a well-trained workforce, as well as the overall quality of life the area offers."

During the next four years Corning expects to more than double its fiber-making capability. That increase will be fueled by the new Concord facility, as well as by an on going $250 million expansion to its Wilmington plant, expected to be completed in early 1998.

Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest growing segments of the world's economy. They currently include optical fiber, cable and components, and high- performance glass for televisions and other electronic displays for the communications and related industries; advanced materials for scientific, environmental and consumer markets; and life sciences. Total revenues for Corning in 1995 were $3.3 billion.

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