Portugal Telecom, Corning Target GPON

CORNING, N.Y., May 8, 2009 -- Portugal Telecom (NYSE: PT) and Corning Incorporated (NYSE: GLW) announced today an agreement to work together to develop, test, and implement innovative and advanced Gigabit Passive Optical Network (GPON) technology solutions for Next-Generation Access (NGA) fiber optic networks in Portugal.

Portugal Telecom has recently signed an agreement with the Portuguese government and other telecommunications providers to develop a fiber optic network in the country. The goal is to enable access to next-generation services such as true high-speed Internet, voice, and HDTV based on a new network for up to 1.5 million Portuguese.

Corning Inc. (NYSE: GLW)