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Corning reiterates 2004 2Q guidance in meetings with investors

Corning Incorporated“s President and Chief Operating Officer Wendell P. Weeks and Corning Vice Chairman and Chief Financial Officer James B. Flaws will meet investors in Boston, Massachusetts, on 15 …

Corning Incorporated“s President and Chief Operating Officer Wendell P. Weeks and Corning Vice Chairman and Chief Financial Officer James B. Flaws will meet investors in Boston, Massachusetts, on 15 June 2004 to discuss the company“s progress on its three leadership priorities for 2004: protecting the financial health of the company; improving profitability; and investing in the future. During the meetings, the company said it will reiterate its 2004 2Q guidance of revenues in the range of USD 900 million to USD 950 million, with earnings per share in the range of USD 0.07 to USD 0.09, before special items. The estimate is a non-GAAP financial measure and is reconciled on the company“s investor relations Web site. Weeks and Flaws will also tell investors that the company“s three near-term growth initiatives: fiber in the local access network, or fiber to the premises; emission control for products in heavy-duty and light-duty diesel engines; and the expanding market for liquid crystal display (LCD) glass each represent a significant opportunity for Corning. “Corning leads the LCD glass industry in technology innovation and is poised to increase its leadership with the transition to larger size glass panels,” Weeks will say. “Corning was the first with Generation 5 and Generation 6 glass, and is gearing up to deliver Generation 7 glass,” he will remark. Weeks will add that volume growth for Corning“s wholly-owned business is expected to exceed 50% in 2004, outpacing general industry growth. “Growth is being driven primarily by the industry“s migration to larger generation glass and the continued penetration to LCD monitors for the desktop computer market,” Weeks will say. As part of the meetings in Boston, Corning will be hosting a luncheon at 12:30 p.m. EST on 15 June 2004 at the Merrill Lynch & Co. office at One Financial Center, Boston. A copy of the materials distributed to investors during the meetings will be available on Corning“s Web site by accessing the investor relations events calendar. In addition to these meetings in Boston, Flaws will present at the 2004 Wachovia Securities Nantucket Equity Conference on 22 June 2004 in Nantucket, Massachusetts. Flaws“ presentation will be webcast live at 2:30 p.m. EST. It will be available on Corning Incorporated“s Web site by accessing the 2004 Wachovia Securities Nantucket Equity Conference link on the IR events calendar.

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