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News Release

February  4, 2003
Regarding Change of Company ( Trade ) Name
OLYMPUS OPTICAL CO., LTD. ( President : Tsuyoshi Kikukawa ) hereby reports that in the meeting of the board of directors on 4th February 2003, it has been decided to change the name of the company from OLYMPUS OPTICAL CO., LTD. to OLYMPUS CORPORATION. The decision is subjected to approval at the upcoming regular Shareholders' Meeting scheduled to be held in June 2003 and will be effective from 1st October 2003.
1. Rationale for the Name Change
  Olympus was established in 1919 as "Takachiho Seisakusho" and changed its name to "OLYMPUS OPTICAL CO., LTD" in 1949. Ever since Olympus has been striving to become a leading global company and maximize corporate value based on its core competency of OPTO-DIGITAL Technology-a combination of Olympus's advanced optical technology and the latest digital technology. OLYMPUS PROMARKETING, INC., our domestic sales company, will merge with Olympus this April, to accelerate the decision-making process and build a flexible corporate organization that can respond quickly to emerging market trends. We have therefore decided to emphasize the "Olympus" name in both our brand and company names. This significant change will help strengthen the corporate brand. By carrying out an aggressive branding strategy, we will endeavor to increase the confidence of all our stakeholders in the Olympus brand.
2. New Company ( Trade ) Name
(1) Olympus Kabushiki Gaisha
(2) OLYMPUS CORPORATION in English

3. Effective Date of Change of Company Name
  October 1, 2003
*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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