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Olympus and Polaroid Join Forces to Deliver First Digital Printing Camera in the U.S.

Melville, N.Y. - Olympus America, Inc. and Polaroid Corporation today jointly announced an alliance that will produce the first digital printing camera in the United States. Leveraging the strengths of both companies, the new C-211 Zoom will offer filmless digital camera capture with a built-in digital photo printer, creating a new imaging category, "digital printing cameras". "With the formation of this new alliance, the industry is seeing for the first time a truly strategic joint partnership that marries the strengths of two traditional competitors," said Mark Gumz, president, Olympus America, Inc.

"The joint partnership of Olympus and Polaroid enables both companies to capitalize on our strengths in digital imaging and instant photography to address the needs of the marketplace, while establishing a platform for future mobile technologies," said Gary DiCamillo, president and CEO, Polaroid Corporation.

Offering the advantages of digital capture along with the unique ability to preview, and then instantly print a digital image, the C-211 Zoom provides both professional and consumer users a portable, mobile digital imaging solution that allows them to produce digital instant prints on silver halide film, anytime and anywhere, without the use of a computer. In addition, the C-211 Zoom enables professional users, who still require quality instant prints for documentation purposes, to make the transition to digital imaging without compromising access to instant output. The versatility of the C-211 Zoom offers users an ideal solution - the ability to capture digital images and the flexibility of printing high-quality photos on-the-spot.

For Professional Use or Photo Fun
The C-211 Zoom is an ideal tool for use wherever photography is needed and in a wide range of professional applications, including insurance, law enforcement, real estate and construction, to name a few. In addition to professional users, families, children and other photo enthusiasts also will enjoy the benefits of this unique product.

Award-winning Digital Camera Technology
Building on the Olympus tradition of quality digital cameras, the C-211 Zoom offers a 2.1 megapixel camera with 1600 x 1200 resolution for optimum image quality. Other imaging technologies featured in the digital camera include: 3x optical glass zoom; 2x digital zoom; 1.8-inch LCD monitor for easy viewing and playback in any condition. The camera offers Tiff and JPEG for still images and QuickTimeTM Movie modes for maximum flexibility and fun with a digital camera. In addition, the C-211 Zoom ships with an 8MB SmartMedia removable memory card allowing for increased levels of picture storage and capture. For fast connectivity the C-211 Zoom features USB connectivity for both USB Mac and Windows computers.

True Photographic Printer
Offering the ease-of-use and simplicity of traditional instant photography, the C-211 Zoom's built-in print engine uses a combination of a proprietary print mechanism and Polaroid advanced instant film to provide true, fade-resistant photographic prints in just 15 seconds. The superior optical front end and electronics in the print engine enables the system to optimize an image electronically for printing. The result is a true continuous tone output that is superior to an inkjet printer and better than other photographic output.

The Olympus C-211 Zoom will utilizes Polaroid 500 film, featuring a new "Polaroid Digital Prints" branded icon that will appear on the packaging and the camera print engine.

Pricing and Availability
The C-211 Zoom will be available in the United States through authorized Olympus dealers and select camera and computer electronics stores in August of 2000 and has a suggested list price of $799. The C-211 Zoom will ship with an 8MB SmartMediaTM removable memory card, Polaroid Type 500 film pack, (2) LB-01 long life lithium batteries, Camedia Master software, Mac/Windows USB Cable, strap, instruction manual and quick start guide. To obtain more information about the C-211 Zoom, customers may call 800/622-6372 or visit the Olympus Web site at www.olympus.com.

About Olympus America
Olympus America distributes a wide range of products for consumer, scientific, health care, commercial and industrial markets. These include film and filmless cameras, Microcassette and digital voice recorders, binoculars, personal photo printers, medical and industrial endoscopes, biological and metallurgical microscopes and measuring instruments, clinical analyzers, and other high technology products. Olympus America is responsible for sales in Canada, Mexico, the Caribbean, and Central and South America.

About Polaroid
Polaroid Corporation, with annual sales of approximately $2 billion, is the worldwide leader in instant imaging. Polaroid supplies instant photographic cameras and films; digital imaging hardware, software and media; secure identification systems; and sunglasses to markets worldwide.

Olympus is a registered trademark of Olympus Optical Co. Ltd., Camedia and Microcassette are trademarks of Olympus Optical Co. Ltd. Adobe is a registered trademark and PhotoDeluxe are trademarks of Adobe Systems Inc. Microsoft is a registered trademark and Windows is a trademark of Microsoft Corp. Apple, QuickTIme and Macintosh are Trademarks of Apple Computer, SmartMedia is a trademark of Toshiba America, Inc. Specifications subject to change without notice.
"Polaroid" is a registered trademark of Polaroid Corporation, Cambridge, MA 02139.