Olympus Announced Rebate for Zuiko Digital Specific Lenses^TM for The E-System and New Price for E-1 Digital SLR Body (Canada)

- Rebate Offer on Lenses Valid From May 1 to July 31, 2004

Melville, New York, May 1, 2004 - Olympus America today announced a rebate on five Zuiko Digital Specific Lenses™ for the E-1 Digital SLR System. Starting May 1 and continuing through to July 31, 2004, purchase one of the select Zuiko Digital Specific Lenses from an authorized E-Professional System Dealer and get cash back from Olympus. The company also announced today a new estimated street price for the E-1 Digital SLR body of $1999.95 CND, down from $2399.95 CND.

A rebate form for this special offer is available from an authorized E-Professional dealer, or online at www.olympusamerica.com/rebate.

The rebate offer applies to the following lenses: 11-22mm F2.8-3.5 Wide-Angle zoom, 14-54mm F2.8-3.5, 50-200mm F2.8-3.5, 50mm f2.0 1:2 Macro, and EC-14 1.4X Teleconverter. This chart illustrates the value of the rebates for these lenses, and the estimated street prices following the rebates.

Lenses	Product Estimated Street Price Pre-Rebate	Rebate Amount	Estimated Street Price After Rebate
11-22mm F2.8-3.5 wide-angle zoom	$1,049.95 CDN	$100 CDN	$949.95 CDN
14-54mm F2.8-3.5	$699.95 CDN	$65 CDN	$634.95 CDN
50-200mm F2.8-3.5	$1,349.95 CDN	$125 CDN	$1,224.95 CDN
50mm f2.0 1:2 Macro	$699.95 CDN	$65 CDN	$634.95 CDN
EC-14 1.4X Teleconverter	$599.95 CDN	$55 CDN	$544.95 CDN

ABOUT OLYMPUS
Olympus is a precision technology leader, designing and delivering innovative solutions in healthcare and consumer electronics worldwide.

Olympus works collaboratively with its customers and its parent company, Tokyo-based Olympus Corporation, to leverage R&D investment in precision technology and manufacturing processes across diverse business lines. These include:

• Digital and film cameras, and digital voice recorders.
• Gastrointestinal endoscopes, accessories, and minimally invasive surgical products;
• Advanced clinical and research microscopes; and
• Lab automation systems, chemistry-immuno and blood bank analyzers and reagents.

In the U. S. and Canada, Olympus serves healthcare, scientific and commercial laboratory markets with integrated product solutions and financial, educational and consulting services that help customers efficiently, reliably, safely, and easily achieve superior results. Olympus is the leader in gastrointestinal endoscopy and clinical and educational microscopes. The company's market-leading consumer electronics business spans North and South America.

For more information, review units and high-resolution images of the camera, contact John Settino, The IPR Group, (416) 536-4741 or john@theiprgroup.ca, or Chris Sluka, senior public relations manager, Olympus America Inc, Consumer Products Group, Two Corporate Center Dr., Melville, NY 11747-3157, ph: (631) 844-5000 (800) 622-6372, Fax: (631) 844-5262.

Company Contact:	Agency Contact:
Olympus America Inc.	The iPR Group
Chris Sluka, Sr. Public Relations Manager	John Settino
(631) 844-5321	(416) 536-4741
chris.sluka@olympus.com	john@theiprgroup.ca