Tokyo, April 3, 2000

HOYA CORPORATION has acquired ORI, Optical Resources Group, Inc., expanding its processing laboratory network for eyeglass lenses in the US. Through this acquisition, HOYA intends to strengthen its sales base in the US eyeglass lens market. ORI is a growing company established in 1998 through th amalgamation of several independent laboratories, with 9 lens processing laboratories and 13 sales offices located throughout the US. The number of HOYA's lens processing laboratories now totals 10 and the number of sales offices totals 17 in North America. As a result of this acquisition, HOYA's market share for special order prescription lenses has increased to over 10% and has thereby established HOYA as the second largest company in the industry.

Until now low-price, low-value added lenses were seen as the standard in the US. However, with the senior population growing, HOYA predicts a rise in demand for high-value added lenses. These include comfortable thinner lenses, non-reflective lenses and progressive addition lenses. HOYA already enjoys a high reputation for such lenses in Japan, Europe and Asia, and the acquisition of ORI will enable HOYA to meet these future demands in the North American market.

Today, various kinds of reorganizations are occurring in the industrial world. In the eyeglass lens industry, worldwide growth in sales of high-value added lenses is seen as certain and the key to success in this area will be product development and the establishment of sales networks in all major markets worldwide. This is why some major global players have already taken the initiative to rapidly reorganize the eyeglass lenses industry worldwide.

From the viewpoint of "Vision Care for the 21st Century", the aim of this acquisition is not just the enlargement of HOYA's sales volume, but also the launch into the US market along with the establishment of a worldwide network system encompassing 6 mass-production plants, 31 processing laboratories and 90 sales facilities, which in turn will enable the HOYA group to create valuable synergies to improve our services to consumers and customers throughout the world.

<Appendix>

1. 1. Outline of ORI
   
   
   • 　・Corporate Name: Optical Resources Group, Inc.
   • 　・Established : May, 1998
   • 　・Address of Headquarters: 16415-F Northcross Drive, Huntersvile, NC 288078
   • 　・Net Sales (year ended Dec. 31, 1999) : approx. US$ 117 million
   • 　・Number of Employees (as of Dec.31, 1999) : 1,140
   • 　・Business Category : Processing and sales of eyeglass lenses
   • 　・ORI possesses the following processing laboratories in the US:

     Sierra Optical (California)
     Martin Optical Service Inc. (California)
     Benedict Optical, Inc. (Texas)
     Sound Optical Laboratory, Incorporated (Washington)
     Columbian Bifocal Co. (Oregon)
     QSA Optical Co., Inc. (Connecticut)
     Advanced Lens Lab, Inc. (Ohio)
     Progressive Lens Laboratories, LLC (Florida)
     Mueller Optical Company (Missouri)



2. 2. Consolidated sales of HOYA group (unit : millions of Yen, year ended March 31, 1999)
   • 　・Net Sales : 201,290 (percentage of increase against the previous year : 4.0%)
   • 　・Operating Income : 31,726 (20.2%)
   • 　・Ordinary Income : 33,612(25.6%)
   • 　・Net Income : 17,836 (44.4%)
   • 　・Total Asset : 232,695
   • 　・Shareholders' equity : 166,832
   • 　・Composition of Net Sales by Business Category

     Electro-Optics : 86,943 (percentage of increase against the previous year :4.1%)
     Photonics : 8,792 (12.8%)

     Vision Care : Main products - lenses and frames for eyeglasses, ophthalmic equipment Consolidated Net sales : 69,857 ( 8.2%)

     Health Care : 19,552 ( - 8.5%)
     Crystal : 12,267 ( - 0.7%)
     Service : 3,877 ( - 0.9%)