Leading Camera Brand Makes Design Statement with Sponsorship of Mercedes-Benz Fashion Week

Sponsorship coincides with Olympus launch of photo industry's first all-digital SLR camera system

Melville, New York, June 25, 2003 - Olympus America, Inc., a market leader in the areas of film and digital photography, announced today that it will be a sponsor and the "Official Camera" of the renowned Mercedes-Benz Fashion Week event, produced by 7th on Sixth, held twice annually in New York City. Mercedes-Benz Fashion Week is a major international fashion industry show, where America's leading designers debut their newest collections to the retail community and the world's fashion press, including over 600 professional fashion photographers.

"Olympus prides itself on designing camera products that represent the pinnacle of design and style, and Mercedes-Benz Fashion Week is an ideal venue in which to celebrate this heritage," said Martin Lee, senior vice president, marketing, Olympus America. "We view the camera as the ultimate instrument for capturing and projecting beauty. For Olympus, this event is a great opportunity to share our vision for style and innovation with the world's best fashion photographers, designers, stylists, models, the press, retailers and consumer fashion enthusiasts."

Olympus will join a group of premier companies, including title sponsor Mercedes-Benz, VOGUE Magazine, W Hotels, Shu Uemura, Redken, Style Channel, Silhouette Eyewear, Ortho Evra, Luxe Concierge, and The New York Times, among others. Olympus has committed to a three-year sponsorship program that will start with the September 2003 shows and continue through 2006.

"We're delighted to have Olympus join our community," said Fern Mallis, Vice President, Executive Director of 7th on Sixth. "Professional photographers are the key to this event. Fashion, models, the runways�without the photographers, it couldn't happen! Having an official camera with the status, style and design of Olympus will be a great addition to our roster of partners."

Among the 15,000 fashion industry professionals who attend the event, Olympus will be particularly focused on the over 600 professional photographers who register for the shows. Olympus is planning a series of special programs to recognize the professional photographers, and share with them the latest innovations in photographic technology. This September's Mercedes-Benz Fashion Week coincides with the introduction of the Olympus E-1, the world's first 100% digital interchangeable lens SLR system.

"High-end digital capture is increasingly critical in the fast-paced and competitive environment of fashion photography, and the new Olympus E-1 is the first camera designed to be digital from the ground up" said Martin Lee. "We're eager to connect with the world's best fashion photographers in their environment to share our new E-1 technology, and we think these demanding professionals will appreciate the image quality, compact camera and lens size, durability, and speed they get from the E-1, as compared to the film-digital hybrids that many of them use now."

About Mercedes-Benz Fashion Week
Mercedes-Benz Fashion Week, held in Bryant Park in Midtown Manhattan, is a high-profile spectacle that is promoted in New York City and in satellite markets throughout the world. It receives extensive press coverage and is a pivotal event in establishing future fashion and design trends.

ABOUT OLYMPUS - Nothing's impossible.
Olympus Optical Co., Ltd., with its wholly owned subsidiaries, is a global leader in designing, manufacturing and marketing optical-digital product solutions for health care and consumer segments. The company leverages R&D investment in technology and manufacturing processes across diverse business lines that include:

• Digital and film cameras, and digital voice recorders; and
• Minimally invasive diagnostic and surgical endoscopes;
• Advanced clinical and research microscopes;
• Chemistry-immuno analyzers and lab automation systems.