Corning Re-Elects Directors to Board and Increases Number of Authorized Shares.

Business Editors

CORNING, N.Y.--(BUSINESS WIRE)--April 27, 2000

During the company's annual meeting today, Corning Incorporated (NYSE:GLW) stockholders re-elected directors for three-year terms: James R. Houghton, chairman emeritus, Corning Incorporated; James J. O'Connor, retired chairman of the board and chief executive officer, Unicom Corporation; and Deborah D. Rieman, entrepreneur in residence, U.S. Venture Partners.

Shareholders also approved an increase in the number of shares of authorized common stock from 500 million to 1.2 billion. The number or shares were increased to enable the company to act promptly on investment, acquisition and growth opportunities, or on proposals for stock splits or stock dividends.

In addition, shareholders approved an equity plan for non-employee directors, which allows the Board of Directors to make discretionary awards of shares or grant options to non-employee directors.

In other business, Corning Chairman and Chief Executive Officer, Roger G. Ackerman told stockholders that soaring demand for optical fiber, optical technology and products for other high-growth markets is the reason for Corning's solid outlook.

"Demand for bandwidth is doubling every 6 to 9 months and as a result, telecommunication networks will need to expand by 17 fold in North America alone over the next four years," Ackerman said. "We are capitalizing on this incredible growth by adding capacity around the world, delivering new technologies, and successfully integrating our recent acquisitions."

Ackerman also attributed Corning's success to the company's ability to change: "The strength to look ahead, to recognize new market opportunities, and create new technologies to seize these opportunities have been a hallmark of Corning for 150 years."

Earlier this week, Corning announced that its first quarter earnings before special items increased 78%. The company also announced pro forma earnings growth in 2000 of about 35%, including announced acquisitions, and raised its full-year pro forma earnings guidance to $2.70 to $2.75 per share.

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.