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May 15, 2001
Announcement of Personnel Changes
And the Introduction of an Operation Officer System
Olympus Optical Co., Ltd. (President: Masatoshi Kishimoto) hereby announces that, at the Board of Directors meeting held May 15, the following changes in Directors, Corporate Auditors, and Officers were approved internally, and will be subject to discussion at the Annual General Meeting of Shareholders scheduled for June 28 and the subsequent Board of Directors meeting.
1.  Personnel Changes

Changes in Representative Directors (Effective June 28, 2001)
Director, Supreme Advisor Toshiro Shimoyama (Now Chairman)
Chairman* Masatoshi Kishimoto (Now President)
President* Tsuyoshi Kikukawa (Now Managing Director)
* Representative Director
Resigning Directors (Effective June 28, 2001)
Senior Managing Director Masao Kobayashi (Will assume position of Standing Advisor at Olympus Optical Co., Ltd.)
Managing Director Shohei Nagai (Will continue as Corporate Auditor at OLYMPUS ProMarketing, Inc. and Corporate Auditor at Olympus Logitex Co., Ltd.)
Director Yoshihide Yamaoka (Will assume positions of Corporate Auditor at Olympus Engineering Co., Ltd. effective May 9 and of Corporate Auditor at Olympus Sogo Service Co., Ltd. effective June 14.
Director Isao Takahashi (Will continue as President* at OLYMPUS ProMarketing, Inc.) *Representative Director
Director Hiroyuki Furihata (Will assume position of Executive Officer.)
Director Hiroshi Komiya (Will assume position of Executive Officer.)
Director Tatsuo Nagasaki (Will assume position of Executive Officer.)
Director Takeyuki Mori (Will assume position of Executive Officer.)
Director Kazuhisa Yanagisawa (Will assume position of Executive Officer.)
Director Mikio Takagi (Will assume position of Executive Officer.)
Corporate Auditor Candidates (Effective June 28, 2001)
Standing Corporate
Auditor
Minoru Ota (Now General Manager, Corporate Center Accounting Dept.)
Resigning Corporate Auditors (Effective June 28, 2001)
Corporate Auditor Yoshio Kunihisa (Will assume position of Advisor at Olympus Optical Co., Ltd.)
Changes in Corporate Auditors (Effective June 28, 2001)
Corporate Auditor Seiya Ikoma (Now Standing Corporate Auditor)
(Outside Corporate Auditor)
2.  Reorganization of Board of Directors and Introduction of Operation Officer System

Aim of Introducing New System
Olympus has set its sights on becoming a "Global Value Creating Company." To achieve this goal, Olympus has been enhancing the efficiency of its corporate management structures through a reorganization of its various business divisions and the introduction of an internal quasi-holding company system effective April 2001. In addition to this, by reforming its Board of Directors and bringing in a system of appointing operation officers, the company aims to differentiate clearly between the management decision making roles and operational roles, as well as to enhance management speed, and clarify responsibilities of senior managers. On June 28, 2001, the reformation of the Board of Directors will be carried out, and the new operation officer system will be instituted.
Officer Appointments (Effective June 28, 2001)
Senior Executive Officer Hiroyuki Furihata (Now Director, Division Manager, Minimally Invasive Products Division, Medical Systems Group)
Senior Executive Officer Hiroshi Komiya (Now Director, Division Manager, Photo & Audio Products Division, Imaging Systems Group)
Senior Executive Officer Tatsuo Nagasaki (Now Director, Division Manager, New Business Division, Corporate R & D Center)
Senior Executive Officer Takeyuki Mori (Now Director (Executive Managing Director), Olympus Optical Co., (Europa) GmbH))
Senior Executive Officer Kazuhisa Yanagisawa (Now Director, Genome Medical Business PJ Leader)
Senior Executive Officer Mikio Takagi (Now Director, Division Manager, Support Division, Corporate Center)
Executive Officer Kazuo Ichikawa (Now Division Manager, Scientific Equipment Division, Medical Systems Group)
Executive Officer Yusuke Kojima (Now Division Manager, Digital Imaging Division, Imaging Systems Group)
Executive Officer Haruhito Morishima (Now Division Manager, Endoscopy Products Division, Medical Systems Group)
New Corporate Officers
(Effective June 28, 2001)
* Representative Director
Chairman* Masatoshi Kishimoto (Promotion)
President* Tsuyoshi Kikukawa (Promotion)
Senior Managing Director Kenichi Sekimoto
Managing Director Atsushi Yusa
Managing Director Masaaki Terada
Managing Director Koji Miyata
Director, Supreme Advisor Toshiro Shimoyama
Director Ken Yonekubo
Director Shinya Kosaka
Director Masaharu Okubo
Standing Corporate Auditor Minoru Ota (Newly Appointed)
Standing Corporate Auditor Hitoshi Komata
Corporate Auditor Seiya Ikoma
Corporate Auditor Koushi Kawashima
Senior Executive Officer Hiroyuki Furihata (Newly Appointed)
Senior Executive Officer Hiroshi Komiya (Newly Appointed)
Senior Executive Officer Tatsuo Nagasaki (Newly Appointed)
Senior Executive Officer Takeyuki Mori (Newly Appointed)
Senior Executive Officer Kazuhisa Yanagisawa (Newly Appointed)
Senior Executive Officer Mikio Takagi (Newly Appointed)
Executive Officer Kazuo Ichikawa (Newly Appointed)
Executive Officer Yusuke Kojima (Newly Appointed)
Executive Officer Haruhito Morishima (Newly Appointed)
*Olympus Optical Co., Ltd. was changed to OLYMPUS CORPORATION as of October 1, 2003.
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