San Jose CA - May 1, 2000 -- Olympus Corporation, has established a new wholly-owned subsidiary, Olympus Integrated Technologies America Inc. located in the heart of Silicon Valley. Working through the new subsidiary, Olympus aims to develop its semiconductor equipment business in the United States and worldwide.

Olympus Integrated Technologies America Inc.'s mission is to develop semiconductor and industrial equipment for customers by implementing a new business model for product development and globalization. The new subsidiary will have local product development and direct selling activities to provide semiconductor manufacturers with advanced system level products from Olympus through development of partnerships with other equipment suppliers. The key to this model is the customers' and partners' involvement in the product development process. Olympus Integrated Technologies America Inc. will apply the technical capabilities and resources of the Olympus Corporation to product opportunities in partnership with local companies.

Mr. Rick LaFrance, a semiconductor equipment industry veteran, explains, "This will be one of the first times a Japanese equipment company will be establishing a venture of this nature in the United States. Our Intention is to globalize Olympus products by providing U.S. based product development and product definition and by working in close partnership with suppliers to the industry. Olympus Integrated Technologies America Inc. is a 'start-up' with the backing of Olympus Japan, and eighty year old, $4 billion dollar organization. As a start-up group, we will establish direct sales and product development activity for the semiconductor industry. Technical and business alliances will be mutually beneficial and will establish with end use customers in the semiconductor industry."

"As a separate subsidiary of Olympus we are able to establish our business process in a new way which will better reflect the needs of the customers and our ability to be responsive to the changing marketplace, particularly in the semiconductor equipment market and Silicon Valley. Olympus is a technology rich organization that has realized the need to try new business models for the new economy. Olympus Integrated Technologies America Inc. has been given the opportunity to explore some Silicon Valley type strategic business approaches with the goal of obtaining mutually beneficial business alliances with both customers and partners. The strategic plan for our company is unique to Olympus and allows to create an entrepreneurial environment within a well-established corporation while generating sales and contributing products to the parent company.

Olympus develops, manufactures and sells semiconductor and wafer/FPD inspection equipment, measuring instruments, microscopes and accessories in the scientific equipment business. Recently with advancing integration of devices and the requirement for high precision inspection equipment, there has been the need for high-level solutions that can be incorporated into the semiconductor production line. The company will be concentrating on this area in response to the growing potential market and it has established the subsidiary to strengthen its strategic marketing capabilities.

About Olympus-Integrated Technologies America
Olympus Integrated Technologies America, Inc. of San Jose provides product and direct sales/service support for Olympus optical inspection and defect review products and OEM Optics in the U.S. market. Olympus-ITA is an emerging semiconductor equipment supplier with the backing of Olympus Corporation, Japan, an eighty- year old, $4 billion dollar organization.