15 June 1999

Corning Incorporated announced that it will build a new catalyst substrate plant in South Africa. The facility will include engineering, manufacturing and distribution operations for the company's cellular ceramic substrate products used at the core of catalytic converters. Annual production of catalytic converters in South Africa is projected to double in less than five years, from nearly five million converters in 1998 to approximately ten million units in 2002.

The new Corning facility is tentatively planned to be located in the Eastern Cape area. Construction will begin in late 1999, with production and shipment of catalytic converter substrates to begin in 2000. The new facility will be Corning's first manufacturing operation in South Africa. The company's investment is expected to be approximately US$30 million.

South Africa, the leading source of the platinum used to clean exhaust gases, is rapidly becoming a significant manufacturing center for catalytic converters used by automobile manufacturers around the world.

The Corning products produced at the new facility will be supplied to catalytic converter manufacturers operating in South Africa. Corning currently manufactures catalytic converter substrates in Erwin, New York (USA); Blacksburg, Virginia (USA); and Kaiserslautern, Germany. The company is also building an engineering and manufacturing facility in Shanghai, China, that will begin operations in 2000. The company operates catalytic converter substrate sales and customer service offices in Tokyo, Japan; Seoul, South Korea; New Delhi, India; Sydney, Australia; Singapore; Taipei, Taiwan; Sao Paulo, Brazil; Wiesbaden, Germany; Troy, Michigan; and Corning, New York.

Corning invented the cellular ceramic substrate more than 25 years ago, and today is a leading supplier of the devices to vehicle manufacturers worldwide. Corning also 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 1998 were $3.5 billion.

Contact: J. Robert Jones, 607.974.4898

Source: Corning