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Olympus Optical Co., Ltd. Establishes Olympus Latin America, Inc. in Miami

Olympus Optical Co., Ltd. (President: Tsuyoshi Kikukawa) has established a new wholly-owned subsidiary -- Olympus Latin America, Inc. -- in the U.S. city of Miami, Florida. The company began operations on April 1, 2002 and is responsible for strengthening sales of medical equipment such as endoscopes, microscopes and clinical analyzers in the Latin American market.

The Latin American region is expected to represent the world's second fastest growing market, after Asia. Olympus has experienced a steady increase in medical equipment sales in the region, with particular success in sales of endoscope video information systems and other equipment in Brazil, and demand is expected to grow. This situation led to the decision by Olympus Optical to revitalize its sales stance toward Latin America by establishing a new subsidiary under its direct management for the purpose. The Latin American market was heretofore the responsibility of Olympus America Inc., located in New York.

Olympus Latin America, Inc. is organized around a structure specially adapted to conducting sales to hospitals and other medical institutions mainly through local on-site distributors in Latin America. The new company will aggressively conduct its sales and service activities by reorganizing its structure to keep abreast of the needs of the market, and by strengthening its overall marketing effort with mid- and long-term planning.

Olympus thus plans to boost its brand value in Latin America through the coming expansion of business in endoscopes (endotherapy devices, peripherals and endosurgery systems), microscopes (research microscopes) and clinical analyzers (small and mid-sized).

Overview of New Company

Company Name: Olympus Latin America, Inc.
Capital: U.S. $2 million (Approx. 260 million yen)
Capitalization Structure: Wholly-owned subsidiary of Olympus Optical Co., Inc.
Managing Director: Nobukazu Kuroiwa
Establishment: November 13, 2001
Operations Began: April 1, 2002
Business: Sales and after-sale service of endoscopes and scientific equipments (microscopes), as well as clinical analyzers in Latin America.
Employees: 49
Location: 5301 Blue Lagoon Drive, Suite 290, Miami, FL 33126-2097, U.S.A.
Telephone: 1 (305) 266-2332
Fax: 1 (305) 261-4421

For further information, please contact:
Public Relations, Olympus Optical Co., Ltd.
Shinjuku Monolith, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0914
Tel: +81-3-3340-2374 Fax: +81-3-3340-2130
Home page: http://www.olympus.co.jp/