Corning Approves Director Equity Plan

CORNING, NY-- During the company’s annual meeting today, Corning Incorporated stockholders re-elected directors for three-year terms: James R. Houghton, chairman emeritus, Corning Incorporated; James J. O’Connor, retired chairman of the board and chief executive officer, Unicom Corporation; and Deborah D. Rieman, entrepreneur in residence, U.S. Venture Partners.

Shareholders also approved an increase in the number of shares of authorized common stock from 500 million to 1.2 billion. The number or shares were increased to enable the company to act promptly on investment, acquisition and growth opportunities, or on proposals for stock splits or stock dividends.

In addition, shareholders approved an equity plan for non-employee directors, which allows the Board of Directors to make discretionary awards of shares or grant options to non-employee directors.

In other business, Corning Chairman and Chief Executive Officer, Roger G. Ackerman told stockholders that soaring demand for optical fiber, optical technology and products for other high-growth markets is the reason for Corning’s solid outlook.

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