Daewon, Corning Sign Long-Term Supply Agreement for Optical Fiber; Four-year Agreement Provides Approximately 90 Percent of Korean Cabler's Fiber Supply

Business Wire, Oct 1, 2001

Business/High Tech Editors

CORNING, N.Y.--(BUSINESS WIRE)--Oct. 1, 2001

Corning Incorporated (NYSE:GLW), a world-leading supplier of optical fiber, and Daewon Cable of Korea announced today that they have signed a long-term supply contract for Corning(R) SMF-28(TM) single-mode fiber.

Corning will provide approximately 90 percent of Daewon Cable's total single-mode fiber requirements through 2005.

With this consistent supply of high-quality optical fiber from Corning, Daewon Cable will be able to further enhance the attributes of its highly reliable optical fiber cable. Daewon is a significant supplier to the Korean telecommunications market, as well as other select global markets. Daewon was recently contracted to supply high-performance optical fiber cable to a Korea Telecom project, valued at KR Won 10 billion (US$8 million).

"Daewon is pleased to work with Corning to deploy this industry-leading optical fiber in future projects that will be focused on building out the telecommunications enterprise throughout Korea and other regions of the world," said Daewon Cable's Chief Operating Officer, Mr. Myeong-Hwan Seo. "We selected Corning fiber due to its industry-leading quality and reliability, as well as Corning's customer service."

Mr. Yong-Won Lee, president of Corning Korea, added, "This contract reflects Daewon's commitment to supply high-performance fiber optic cable to the Korean market. Daewon's customers will receive high-quality optical fiber that will meet their network requirements of today and tomorrow."

The leading standard single-mode fiber, SMF-28 fiber's versatile optical profile and outstanding geometry offer high performance in 1310 and 1550 nm applications and excellent splicing and handling capability. Network providers of all types count on SMF-28 fiber, the world's most widely deployed fiber, to support network expansion and advancement.

About Daewon Cable Company, Ltd.

Daewon Cable Company, Ltd. (www.dwcable.co.kr) has a 38-year history in cable manufacturing and is committed to offering high-quality cabling solutions to the information and communications industry. The company supplies a broad range of high value-added cables -- optical fiber, data communication, foam skin, and medium voltage products to both local and overseas markets. Sales revenue for Daewon Cable in 2000 was KR Won 79.6 billion (US$62.7 million).

About Corning Incorporated

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, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 2000 were $7.1 billion.