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February 1, 2012

Management Reform Committee

Notice from the Management Reform Committee

The Management Reform Committee received a number of opinions from Olympus' shareholders, business partners, customers, financial institutions, employees and other stakeholders from January 10 through January 31, 2012. Such opinions shall be referenced in the process of the guidance and recommendations which the Committee will provide to the board of directors of the Company. We appreciate the initiative and cooperation.

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