Corning to Meet with Investors; Quarterly Guidance Unchanged.

CORNING, N.Y. -- Corning Incorporated (NYSE:GLW) executives are expected to re-affirm the company's previously announced fourth-quarter guidance when they speak to investors at the UBS Ninth Annual Global Communications Conference in New York City on Nov. 16 and the WNY Investor Conference in Rochester, N.Y., Nov. 18.

James B. Flaws, vice chairman and chief financial officer, will review Corning's third-quarter performance and the company's primary growth opportunities in the display and fiber-to-the-premises markets at the New York and Rochester investor meetings.

Additionally, Peter F. Volanakis, president of Corning Technologies, James P. Clappin, general manager, Display Technologies, and Eugene A. Verdon, Jr., president, Corning Display Technologies Taiwan, will present an overview of Corning's Display business to the American Chamber of Commerce, Taiwan on Nov. 17.

Company officials will tell investors that Corning remains comfortable with its 2004 fourth-quarter guidance ranges of $950 million to $1 billion in revenues and earnings per share between $0.10 and $0.12, before special items. This estimate is a non-GAAP financial measure and excludes potential gains and charges. The Non-GAAP financial estimate is reconciled on the company's investor relations Web site and accompanies this news release. Corning originally issued this fourth-quarter guidance during its quarterly conference call on Oct. 21.

As the company said previously, it continues to believe that demand for liquid crystal display (LCD) glass remains healthy and fourth-quarter volumes should increase 3 percent to 10 percent, sequentially. "The 2004 full-year market trends for LCD glass remain strong," Flaws is expected to tell investors. "We are seeing significant retail pricing declines this quarter, which is a very positive trend as we head into a typically stronger consumer electronics buying season," he will say.

Flaws will again point out that, while some LCD panel makers recently announced plans to delay portions of their capital expansions, this was not an unexpected industry development. "We said previously that there was a risk the panel makers would collectively add more capacity than required as each bids to gain market share. We are not surprised that some are adjusting their plans," he will say. In addition, he will note that Corning's previously announced expansion plans have been unaffected by these announcements and remain on track for 2005.

"Our manufacturing installations are extremely modular in design and can easily be adjusted to meet fluctuations in the market," Flaws will say. He also will point out that these expansions will give Corning the ability to meet the expected growth due to the popularity of LCD televisions, which could reach 16 percent market penetration by 2006, a significant increase over the 2004 estimated market share of 5 percent.

In addition, Corning officials will tell investors that the company continues to be encouraged by the recent Federal Communications Commission regulatory announcements regarding fiber-to-the-premises or home architectures and the positive reactions by the regional Bell operating companies. Verizon's plans to extend its fiber-to-the-home project to more than 2 million homes next year --along with SBC and Bell South's decisions to use fiber in their broadband projects -- are extremely encouraging for the industry, Corning will say.

Presentation of Information in this News Release

Corning's earnings estimate for the fourth quarter is a non-GAAP financial measure as it excludes any potential gains or losses arising from previously announced restructuring actions; any potential gains or losses arising from debt repurchases or debt retirements; and any further adjustments to the asbestos settlement reserve required by movement in Corning's stock price. The company believes presenting earnings estimates that exclude these items is helpful in understanding Corning's operating results. This earnings estimate is reconciled on the company's Web site at www.corning.com/investor_relations and accompanies this press release.

About Corning Incorporated

Corning Incorporated (www.corning.com) is a diversified technology company that concentrates its efforts on high-impact growth opportunities. Corning combines its expertise in specialty glass, ceramic materials, polymers and the manipulation of the properties of light, with strong process and manufacturing capabilities to develop, engineer and commercialize significant innovative products for the telecommunications, flat panel display, environmental, semiconductor, and life sciences industries.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially. These risks and uncertainties include the possibility of changes or fluctuations in global economic and political conditions; tariffs, import duties and currency fluctuations; product demand and industry capacity; competitive products and pricing; manufacturing efficiencies; cost reductions; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers in the liquid crystal display industry and other businesses; pace of recovery in telecommunications capital spending, particularly for optical fiber and cabling; changes in the mix of sales between premium and non-premium products; facility expansions and new plant start-up costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political instability or major health concerns; ability to obtain financing and capital on commercially reasonable terms; adequacy and availability of insurance; capital resource and cash flow activities; capital spending; equity company activities; interest costs; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; changes in key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are identified in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

CORNING INCORPORATED AND SUBSIDIARY COMPANIES
         RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO GAAP
                           FINANCIAL MEASURE
                 Three Months Ended December 31, 2004
      (Unaudited; amounts in millions, except per share amounts)

Corning's earnings estimate excluding certain items for the fourth
quarter is a non-GAAP financial measure within the meaning of
Regulation G of the Securities and Exchange Commission. The company
believes presenting earnings estimates that exclude these items is
helpful in understanding Corning's operating results. This non-GAAP
measure is not in accordance with and should not be considered an
alternative of measurements required under generally accepted
accounting principles (GAAP). A detailed reconciliation is provided
below outlining the differences between this non-GAAP measure and the
directly related GAAP measure.
                                                    Range
                                        -----------------------------
Guidance: Earnings per share
(EPS) excluding certain items             $0.10               $0.12

Certain items excluded from guidance:

  Asbestos settlement (a)

  Restructuring, impairment and
   other charges and (credits) (b)

  (Loss) gain on repurchases and
   retirements of debt, net (c)         ------------     -------------

Earnings per share

   This schedule will be updated as additional announcements occur.

(a) As part of Corning's asbestos settlement arrangement to be
    incorporated into the Pittsburgh Corning Corporation
    reorganization plan, Corning will contribute, when the
    reorganization plan becomes effective, 25 million shares of
    Corning common stock to a trust. The common stock will be
    contributed to the trust, after the plan has been approved by the
    asbestos claimants and bankruptcy court. The portion of the
    asbestos liability to be settled in common stock requires
    adjustment each quarter based upon movements in Corning's common
    stock price prior to contribution of the shares to the trust. In
    the fourth quarter of 2004, Corning will record a charge or credit
    for the change in its common stock price as of December 31, 2004
    compared to $11.08, the common stock price at September 30, 2004.

(b) From time to time, Corning may need to make adjustments to
    estimates used in the determination of prior year restructuring
    and impairment charges, which could result in a gain or loss
    during the quarter.

(c) From time to time, Corning may repurchase or retire debt, which
    could result in a gain or loss during the quarter.

Please note that the company may pursue other financing, restructuring
and divestiture activities at any time in the future, and that the
potential impact of these events is not included within Corning's
third quarter guidance.

This schedule contains forward looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward
looking statements are based on current expectations and involve
certain risks and uncertainties. Actual results may differ from those
projected in the forward looking statements. Additional information
concerning factors that could cause actual results to materially
differ from those in the forward looking statements is contained in
the Securities and Exchange Commission filings of this Company.