Newport Acquires Corning OCA
Commercial Optics Operation

IRVINE, CA, Oct. 21 -- Newport Corporation has announced its acquisition of the commercial optics operation of Corning OCA, Inc., a subsidiary of Corning Inc. The transaction will be paid in cash and is expected to be immediately accretive to earnings.

The commercial operation of Corning OCA, based in Garden Grove, CA, manufactures specialized precision optical products and systems and will have 1999 pro forma sales of approximately $10 million. The company is a leading provider of opto-mechanical sub-assemblies and thin film technology and coatings.

"This acquisition is in line with our overall strategy to provide value-added opto-mechanical sub-assemblies to our customers and strengthens our position as a supplier of complete solutions," said Robert G. Deuster, Newport's president and CEO. "We are pleased to add the talents of this fine organization to the Newport team."

The business unit will remain in its Garden Grove facility, and all existing Newport optics operations will be consolidated into that single location.

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