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Olympus Names Dr. Stephen Tang To Newly-Created Post As Vice President, Life Science Business Development

MELVILLE, NEW YORK, March 21, 2005 – Continuing its expansion in the life science arena, Olympus America Inc. has named Stephen S. Tang, a respected 18-year veteran of the healthcare and technology sectors, as its first Vice President for Life Science Business Development.

Dr. Tang, who was most recently President, Chief Executive Officer and a Director of Millennium Cell Inc., the Eatontown, NJ energy technology firm that he led from 2000 to 2004 through its initial public offering and early commercialization challenges, will report directly to Olympus America President and Chief Operating Officer, F. Mark Gumz. In this new position, Dr. Tang will direct the company's expanding role in the life science research sector, focusing on Olympus' rapidly growing presence in the genome, proteome, and cellome arena. He will work strategically with Olympus Corporation in Tokyo, Japan, Olympus America's parent company, and will lead efforts to develop and implement the global strategy in the U.S. Dr. Tang will join Olympus immediately in its Melville, NY, headquarters.

“Stephen Tang is a senior executive with deep cross-functional experience and a talent for identifying, developing and capitalizing on emerging technologies,” said Gumz. “We look forward to his impact on our work in the life sciences as we increase our focus on the potential of genomic, intracellular, pharmaceutical and biophysical research.”

Before his work at Millennium Cell, Dr. Tang served as Vice President and Managing Director of the global pharmaceutical and healthcare practice of A.T. Kearney Inc., a subsidiary of EDS Corporation, from 1996 to 2000. From 1992 to 1996, he was first a principal, and then Vice President and Co-Managing Director, of the global chemical and environmental practice for Gemini Consulting Inc., now known as Cap Gemini. Prior to that, he was the Assistant Director and Senior Research Engineer at the Lehigh University Center for Molecular Bioscience and

Biotechnology in Bethlehem, PA. While still in graduate school in 1986, he founded his first company, a technology assessment consulting firm called Tangent Technologies, which he operated until 1992.

Dr. Tang is the author of numerous published articles including an Op Ed piece that ran in The Wall Street Journal in 2003 on consumer acceptance of emerging technology, and has been quoted frequently as a healthcare industry consultant in BusinessWeek and Fortune magazines. He was featured as a 2003 member of Forbes ' annual “E-Gang” as an “unsung hero” of wireless technology. He holds a B.S. in chemistry from the College of William and Mary, VA, and both M.S. and Ph.D. degrees in chemical engineering from Lehigh University, PA. He also holds an M.B.A. from the Wharton School of Business of the University of Pennsylvania, which he earned in 1992. Dr. Tang and his family reside in Upper Saucon Township, PA.

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:

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

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, visit www.olympusamerica.com .

Media Contact Only:
Ilene K. Semiatin
Edge Communications Inc.
(914) 684-0959
ilene@edge-comm.net
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