24mm Wide-Angle Coverage, Constant f/2.8 Maximum Aperture Throughout Zoom Range, Superior Optics and Weather-Resistant Design Make it the Perfect All-Purpose Professional Mid-Range Zoom Lens

LAKE SUCCESS, NY, September 24, 2002 - Canon U.S.A., Inc., a subsidiary of Canon, Inc. (NYSE:CAJ) continues to provide professional photographers and enthusiasts with the widest selection of autofocus lenses found in any SLR camera system with the introduction of the EF 24-70mm f/2.8L USM lens. The EF 24-70mm f2.8L: USM replaces the current EF 28-70mm f/2.8L USM lens and incorporates many advanced and exclusive Canon lens technologies to provide improved performance including the use of two different types of aspherical lens elements and a UD (Ultra-low Dispersion) glass element for obtaining sharper image quality. Its weather-resistant construction makes it extremely durable and reliable even in harsh weather conditions, such as rain or snow, and matches the weather-resistant construction of the EOS-1v 35mm film camera, EOS-1D and newly introduced EOS-1Ds digital models.

"Canon continues to provide photographers with the widest selection of high-quality lenses of any SLR camera system in the industry - analog or digital," said Yukiaki Hashimoto, vice president and general manager, Photographic Products Group, Canon U.S.A. "Our customers now have several choices in the mid-range zoom lens category, which allows them to select a lens or series of lenses that is ideal to their style of photography," added Mr. Hashimoto.

The EF 24-70mm f/2.8L USM lens provides weather-resistant construction in the mount area, switch panel, zoom ring and focusing ring to prevent water and dust from reaching the inside of the lens. This design philosophy matches the performance of the EOS-1v 35mm, EOS-1D and EOS-1Ds digital professional cameras. Revised multi-layer optical coatings were added to minimize ghosting, especially when used with a digital SLR. When used in conjunction with any of these camera models, the system is virtually impervious to moisture, giving photographers the confidence to use it anywhere under almost any condition.

Similar to the EF 70-200mm f/2.8L IS USM and EF 16-35mm f/2.8L USM, the new lens uses an electromagnetically controlled automatic diaphragm designed to maintain nearly circular apertures between f/2.8 and f/5.6. A circular aperture makes blurred points of light appear round and makes the background blur more pleasing for greater effect.

Autofocusing is fast, accurate and silent, thanks to Canon's original ring USM (Ultrasonic Motor). Minimum focusing distance has been reduced to just 15 inches/0.38m. This was achieved through a strengthened optical formula, featuring internal focusing which also enhances focusing speed, durability and handling. Moreover, the lens provides fast and smooth manual focusing in the AF mode through its built-in, full-time mechanical manual focus override.

The new EF 24-70mm f/2.8L USM measures 4.9 inches in length and weighs 33.5 ounces. The new lens, equipped with a lens hood, will be available at authorized Canon dealers in November and have a suggested retail price of $2,100.

Canon U.S.A., Inc. delivers consumer, business-to-business, and industrial imaging solutions. In 2001, the Company was listed as one of Fortune's Most Admired Companies in America, and was ranked #41 on the BusinessWeek list of "Top 100 Brands." Its parent company Canon Inc. (NYSE:CAJ) is a top patent-holder of technology, ranking third overall in the U.S. in 2001, with global revenues of $26 billion. Canon U.S.A. employs approximately 11,000 people at over 30 locations. For more information, visit www.usa.canon.com.