Corning to Present at Credit Suisse Technology Conference

  Corning to Present at Credit Suisse Technology Conference

  Company updates fourth-quarter outlook for LCD glass volume and Corning^®
                            Gorilla^® Glass sales

Credit Suisse Annual Technology Conference 2012

Business Wire

CORNING, N.Y. -- November 27, 2012

Corning Incorporated (NYSE: GLW) Senior Vice President and Corporate
Controller Tony Tripeny will update investors at the Credit Suisse Annual
Technology Conference in Scottsdale, Ariz., today (3p.m. MST) on the company’s
fourth-quarter performance expectations. Highlights of Tripeny’s presentation
will include expectations for “stronger-than-forecasted” fourth-quarter LCD
glass volume and full-year sales of Corning^® Gorilla^® Glass approaching $1
billion.

Tripeny will tell investors that stronger-than-expected retail demand for LCD
televisions and other consumer electronics devices in North America and China
are resulting in an improved view of the LCD glass supply chain. “We now
expect glass market volume to be up in the low single digits this quarter,
versus our previous expectation of down low-to-mid single digits,” he will
say.

“As a result,” Tripeny will say, “Corning’s total LCD glass volume at its
wholly owned business and Samsung Corning Precision Materials Co., Ltd.,
should be up in the mid-single digits sequentially.” Tripeny will explain that
North American TV sales are stronger than the company expected in the fourth
quarter, the Chinese market continues to experience good demand, and the
supply chain is preparing for the upcoming Chinese New Year holiday. He will
reaffirm that Corning expects LCD glass price declines in the fourth quarter
to be slightly higher than those in the third quarter, a result of the
company’s new agreements with key customers.

Looking forward, Tripeny will tell investors, “We expect our share of the LCD
glass market to remain stable at quarter four levels as a result of the
long-term supply agreements we entered into last quarter, and we anticipate
price declines will be moderate in the first quarter.”

Corning Gorilla Glass Strength

Tripeny will also provide upwardly revised expectations for Corning’s
Specialty Materials segment and its key driver, Corning Gorilla Glass sales.
Fourth-quarter segment sales are expected to increase by about 5% over a
record third-quarter performance, driven by numerous new consumer electronics
product introductions and increased supply chain demand. “Gorilla Glass sales
remain very strong. Our Specialty Materials segment year-over-year sales,
driven by the strength of Gorilla Glass, are expected to be up approximately
60% this quarter.”

“We believe Corning Gorilla Glass, now on more than 1 billion devices in the
market worldwide, could achieve $1 billion in sales this year,” Tripeny will
say.

Tripeny will point out that the company does not foresee any changes in its
previously forecasted fourth-quarter performance for the Telecommunications or
Environmental Technologies businesses. Corning’s Life Sciences business should
see a more than 15% sequential increase in revenue due to the completion of
the Discovery Labware acquisition during the quarter. In addition, Corning now
expects its equity earnings from Dow Corning Corporation will be down about
20% sequentially, the result of further weakening of demand for solar-grade
polysilicon.

Tripeny also will point out that improved volumes for LCD glass and Gorilla
Glass will offset seasonal declines in Corning’s other businesses and should
keep the company’s fourth-quarter gross margin percent at a level consistent
with the previous quarter.

“Our recent business performance, particularly the strength of LCD glass sales
and continued growth of Gorilla Glass, is a solid indication that Corning is
on the path to resuming earnings growth,” Tripeny will conclude.

Upcoming Investor Events

Corning will host its annual investor day in New York on Feb. 8, 2013 at
Cipriani. To register for the event, go to Corning’s website at
www.corning.com/investor_relations and click Investor Events on the left.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” (within the meaning
of the Private Securities Litigation Reform Act of 1995), which are based on
current expectations and assumptions about Corning’s financial results and
business operations, that involve substantial risks and uncertainties that
could cause actual results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions;conditions in thefinancial and credit markets;currency
fluctuations;tax rates; product demand and industry capacity; competition;
reliance on a concentrated customer base; manufacturing efficiencies; cost
reductions; availability of critical components and materials; new product
commercialization; pricing fluctuationsandchanges in the mix of sales
between premium and non-premium products;new plant start-upor
restructuringcosts; possible disruption in commercial activities due to
terrorist activity, armed conflict, political or financial instability,
natural disasters, adverse weather conditions, 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; retention of key personnel; stock price fluctuations; and adverse
litigation or regulatory developments.These and otherrisk factors
aredetailedin 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.

About Corning Incorporated

Corning Incorporated (www.corning.com) is the world leader in specialty glass
and ceramics. Drawing on more than 160 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.

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Contact:

Corning Incorporated
Media Relations:
Daniel F. Collins, 607-974-4197
collinsdf@corning.com
or
Investor Relations:
Ann H. S. Nicholson, 607-974-6716
nicholsoas@corning.com
 
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