GLW Corning Inc

Corning Incorporated (NYSE: GLW) announced today that its board of directors has approved a capital expenditure plan of $129 million to further expand manufacturing capacity for large-size glass substrates for active matrix liquid crystal displays (LCD) at its Taichung, Taiwan manufacturing facility. In addition to enabling Generation (Gen) 8 manufacturing capabilities in Taiwan, the investment will create additional finishing capacity for Gen 7.5. The expenditure will be incurred over two and a half years, with glass substrate production expected to begin by mid-2008. �Very large Gen sizes, such as Gen 8, are all about TV,� said James P. Clappin, president of Corning Display Technologies. �As LCD becomes a leading technology for televisions in the 40-inch and larger size range, this expansion helps our customers in Taiwan and Japan meet the growing demand.� �Bringing Gen 8 finishing capability to the Taichung facility offers the flexibility of meeting future Taiwan demand with local capacity,� said Alan T. Eusden, president, Corning Display Technologies Taiwan. At 2160 x 2460 mm, Gen 8 is currently the largest glass substrate available, but next-generation substrates are already on the horizon. About Corning Incorporated Corning Incorporated (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology. Forward-Looking and Cautionary Statements This press release contains forward-looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially. These risks and uncertainties include the possibility of changes in global economic and political conditions; currency fluctuations; product demand and industry capacity; competition; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; changes in the mix of sales between premium and non-premium products; new plant start-up costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political instability or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; stock price fluctuations; and adverse litigation or regulatory developments. Additional risk factors are identified in Corning�s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.