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Olympus and The Cleveland Clinic Glickman Urological Institute Enter Multi-year Research and Development Agreement

- Strategic Collaboration Will Advance Development of State-of-the-Art Instrumentation and Procedures for Urologic Applications

Melville, NY, March 22, 2004 - Olympus, a precision technology leader for healthcare and consumer electronics solutions, and The Cleveland Clinic Glickman Urological Institute, ranked as one of the two best hospitals in urology in the United States, today entered into a multi-year research and development agreement to develop state of-the-art instrumentation and procedures in the area of urology to enhance diagnosis and treatment.

Commenting on the agreement, Andrew C. Novick, M.D., chairman, The Cleveland Clinic Glickman Urological Institute, stated, "The Cleveland Clinic is dedicated to providing innovative, world-class care to all patients. This collaboration provides another avenue through which the Glickman Urological Institute can continue to advance its knowledge and treatment of urological diseases. Olympus shares our commitment to excellence and to improving the quality of life for patients, and we are pleased to work with Olympus to pursue these shared goals."

David C. McKinley, group vice president, Medical Systems, Olympus America, stated, "Olympus' collaboration with The Cleveland Clinic Glickman Urological Institute is a strong example of our company's commitment to developing innovative precision technologies in the area of urology.

"Olympus looks forward to a long-term working relationship with The Glickman Urological Institute. This relationship is a natural fit for Olympus. The Institute's ongoing feedback will enhance our efforts to develop state-of-the-art, reliable and easy-to-use instrumentation in the areas of imaging and endoscopy, that delivers both superior medical outcomes and better patient care," added Mr. McKinley.

Under the terms of the agreement, the Glickman Urological Institute is incorporating Olympus EndoEYETM flexible video cystoscopes in its daily practice. The EndoEYE flexible video cystoscope is a member of the innovative family of EndoEYE surgical videoscopes, which provides advanced digital image processing and output over conventional fiberscopes. Each EndoEYE videoscope features a color CCD (charge-coupled device) miniaturized camera chip in the distal end where the objective lens is located.

EndoEYE's "eye-inside" digital imaging technology makes fragile rod lenses a thing of the past, and eliminates many human and environmental variables for uncompromised image quality. Having the CCD chip distally mounted also allows the surgeon to, in effect, look directly at the surgical site, rather than 'looking in through a window,' as is the case with conventional camera head and telescope systems.

In September 2003, the Society of Laparoscopic Surgeons (SLS) recognized the Olympus EndoEYE surgical videoscope as one of the Innovations of the Year at the SLS 12th International Congress and Endo Expo 2003.

In December 2003, the Olympus EndoEYE family of surgical videoscopes was awarded the 2003 Technology Innovation Award for Minimally Invasive Surgery Instruments and Laparoscopes by Frost & Sullivan, the international strategic marketing consulting and training firm that tracks advances in a wide array of technological areas.

ABOUT THE CLEVELAND CLINIC GLICKMAN UROLOGICAL INSTITUTE
Ranked by U.S. News & World Report as one of the two best hospitals in urology in the United States, The Cleveland Clinic Glickman Urological Institute is recognized worldwide for excellence in patient care, teaching and research.

The Glickman Urological Institute offers the full range of care for urology problems in adults and children, including kidney disease; bladder control; prostate disorders; sexual dysfunction/impotence; male infertility; testicular, bladder, prostate, adrenal and kidney cancer; chronic urinary tract infections and obstructions; pediatric urology; kidney and pancreas transplantation; kidney stones; and laparoscopic surgery.

Every year since 1990, U.S. News & World Report has ranked The Cleveland Clinic Glickman Urological Institute the best in Ohio and one of the top five urology departments in the United States. In each of those years, U.S. News & World Report also has named The Cleveland Clinic as one of "America's Ten Best Hospitals."

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;
  • Digital and film cameras and digital voice recorders.
In the U.S. and Canada, Olympus serves healthcare 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.

Company Contact:
Olympus America Inc.
Lorraine Botti
(631) 844-5655
lorraine.botti@olympus.com