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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (1537)	11/15/2001 10:17:47 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 2260

Corning Incorporated Announces Underwriters Have Exercised Option to Purchase Additional Securities CORNING, N.Y.--(BUSINESS WIRE)--Nov. 15, 2001--Corning Incorporated (NYSE:GLW - news) today announced that the underwriters have exercised their option to purchase an additional $65 million principal amount of 3.50% convertible debentures due November 1, 2008, in addition to the $600 million they purchased from the company on November 8, 2001. The debentures are redeemable at Corning's option after November 2004. The securities are issued under Corning's existing $5 billion universal shelf registration statement. The sole bookrunning manager was Goldman, Sachs & Co. Net proceeds from the sale of additional securities will be used for general corporate purposes, including working capital requirements, normal, ongoing capital spending, and the possible funding of future acquisitions. The offering of the convertible debentures represents a new financing by Corning. The offering was made by means of a prospectus supplement to a prospectus that is part of Corning's universal shelf registration statement previously filed with the U.S. Securities and Exchange Commission and declared effective in March 2001. For a copy of the prospectus and prospectus supplement relating to the offering, contact the prospectus department of Goldman, Sachs & Co., 85 Broad Street, New York, N.Y.,10004; telephone: (212) 902-1171. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there by any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Established in 1851, Corning Incorporated 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.