Olympus News Release:OLYMPUS Reinforces Business Operations by Restructuring of Medical Systems Group to Establish Life Science Group

February 4, 2003

OLYMPUS OPTICAL CO., LTD.

Reinforces Business Operations by
Restructuring of Medical Systems Group to
Establish Life Science Group

OLYMPUS OPTICAL CO., LTD. ( President : Tsuyoshi Kikukawa ) will restructure its Medical Systems Group and newly establish the Life Science Group. The purpose of this move, which will take effect on April 1, 2003, is to strengthen business operations in some key areas, especially Life Science and endoscope related businesses.

The Life Science Group will be created through the amalgamation of the Genome Medical Business Division, the Scientific Equipment Division and the Diagnostic Equipment Division, which currently comprise the Medical Systems Group. The mission of the new Life Science Group will be to build the life science segment, especially genome medicine, into a core business for the future. It will utilize a wealth technology assets and knowledge including optical technology and automation / systems technology developed for microscopes and clinical diagnostic systems, as well as analysis technology based on genetic analysis and micro-nanotechnology in Corporate Research and Development Center.

The Medical Systems Group will concentrate on its existing endoscope business, and on its MIP ^* business spanning the three areas of endosurgery systems, endo-therapy accessories and ultrasound systems. By focusing on the endoscope and MIP fields, it will be able to adapt more quickly to new technological trends and environmental changes in the medical industry in Japan and overseas.

As indicated in a previous announcement, the restructuring will be accompanied by the integration of the domestic marketing operations of OLYMPUS PROMARKETING, INC. The Medical Systems Group and the Life Science Group will both strengthen their customer interfaces and pursue aggressive business strategies based on the integration of production and marketing.

*	MIP : Minimally Invasive Products ( medical products that cause minimal strain to the body )

Overview of the New Life Science Group

Commencement of business :	April 1, 2003
President :	Isao Takahashi ( currently President and Representative Director of OLYMPUS PROMARKETING, INC. )
Divisional structure :	Life Science Planning Division, Genome Medical Business Division, Scientific Equipment Division, and Diagnostic Equipment Division
Activities :	R&D, production and sales of biological microscopes, clinical analyzers, genome and protein analysis systems, etc.
Sales :	62.7 billion yen. ( based on consolidated sales of related divisions for the year ended March 2002 )

Overview of Medical Systems Group

President :	Koji Miyata ( currently President of the Industrial Systems Group )
Divisional structure :	Medical Planning & Support Division, Endoscopy Products Division, Minimally Invasive Products ( MIP ) Division and Domestic Medical Sales & Marketing Division
Activities :	R&D, production and sales of gastroenterological endoscopes, endosurgery system, instruments, ultrasound endoscopes, etc.
Sales :	192.3 billion yen. ( based on consolidated sales of related divisions for the year ended March 2002 )

*Olympus Promarketing, Inc. (old Olympus Sales, Inc.) merged with Olympus Optical Co., Ltd. at April 1, 2003.

*Olympus Optical Co., Ltd. was changed to OLYMPUS CORPORATION as of October 1, 2003.

*The company names and product names specified in this release are the trademarks or registered trademarks of each company.

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