BUENA PARK, CA--Noritsu America has launched a second site onto the World Wide Web. Noritsu is pleased to release a new on-line search tool for used and reconditioned QSS systems and other Noritsu equipment at www.noritsurernarketing.com Entrepreneurs who are looking to start a photo lab or expand their existing operation can direct their browser to this site to find a fast and simple method for gathering late model product information and availability at their fingertips. Currently there is a wide range of QSS printer-paper processors, QSF film processors and lab accessories available. And the site will be updated regularly to accommodate incoming inventories.

This year marks the 80th anniversary of Asahi Optical Co. Ltd. (PENTAX Corporation's parent company). The company pioneered the domestic development of 35mm single-lens-reflex (SLR) cameras with the introduction of the Asahiflex I, Japan's first domestically manufactured 35mm SLR camera, in 1952. Asahi also took a leading role in Japan's fine-optics industry with the development and manufacture of binoculars, telescopes, eyeglass lenses and frames, medical material and equipment, communications equipment, and industrial instruments.

Beginning with Japan's first 35mm SLR camera in 1952, Asahi Optical has remained a technological leader through a number of "world-first" innovations. In 1954, it incorporated an instant-return mirror system in its Asahiflex II. In the '50s many of these cameras were sold in the USA under the Sears Roebuck "Tower" brand.

During the five-day event, participants must tell a story with color film, then edit and sequence their work for an exhibition to be displayed for the participants and local residents of the area. As always, the workshop faculty consists of photography experts and documentarians, including 12 professional faculty members, lab workers and several Missouri School of Journalism staff. 

In particular, this year's Workshop will benefit from having two of Fujifilm's state-of-the-art digital printers on-site. Fujifilm's Pictrostat Digital 400 brings together the versatile image enhancement capabilities of a digital printer and the photo realistic tone and gradation of silver halide prints. Able to produce enlargements up to 11 x 17-inches, the Pictrostat 400 prints from 135 and 120 negative and slide film and, when linked to a PC or Macintosh®, prints from virtually any digital source. The Fujifilm Pictrography 3000 is an innovative digital printer that utilizes laser diode exposure and a specially developed photosensitive donor material to produce brilliant photographic quality color prints from a wide range of digital data. And, since both the Pictrostat Digital 400 and the Fuiifilm Pictrography 3000 require no chemicals, color print production is easy, efficient and extremely environmentally friendly.

Founded in 1948 by Cliff and Vi Edom, the Missouri Photo Workshop has taught more than 2,000 participants the fine arts of documentary story research, shooting and editing.

For more information on the 1999 Missouri Photo Workshop, please call 573/882-4442 or 573/884-4999 or, e-mail: info@mophotoworkshop.org.

Kodak Promotes Greene To Senior VP For Business Strategy & Information Technology

ROCHESTER, N.Y, August 5--Eastman Kodak Company today announced that Jesse J. Greene, Jr., has been promoted to Senior Vice President of Business Strategy and Information Technology, a newly created position that expands the executive management team. Reporting directly to Dan Carp, who will become Kodak's Chief Executive Officer in January, Greene will have responsibility for the development and implementation of corporate business strategy, mergers and acquisitions, and information technology.

Currently Vice President of Finance, Greene has been serving as acting Chief Financial Officer since May, following the untimely death of CFO Harry Kavetas. Greene will continue in that role, assisting George Fisher and Dan Carp in an external search to fill that position.

Carp said that Kodak's growth strategy demands the existing CFO role be split into two distinct functions: strategic development and its complementary activities, and operational finance.

"Jesse Greene is an excellent strategic thinker and a brilliant deal maker," Carp said. "The three areas of strategy, investment, and information technology are important because they significantly impact our growth initiatives. It is important to the company to have a senior leader focused on these initiatives."

Carp outlined Greene's primary responsibilities in this new role. "First, Kodak needs a structured approach to corporate business strategy," Carp said. "Second, industry consolidation is a growth opportunity as we have demonstrated with our acquisition of Imation's health imaging business, and with the formation of our joint venture Kodak Polychrome Graphics. Third, our information technology activity is entering a significant phase involving the integration and deployment of new systems and software. This will provide support for Kodak's electronic commerce initiatives. Jesse Greene will lead these critical areas in a way that produces the greatest advantage in the shortest period of time."

"I've worked with Jesse for five years," Carp added. "We think alike; I respect his intelligence; and I admire his ability to manage complex strategic issues and business investments."

Greene joined Kodak as Treasurer in 1994, and he was named vice president of Finance in 1998. Prior to joining Kodak, he had a 23-year career with IBM Corporation.

He holds advanced degrees in engineering, law, and business. He received both a Bachelor's degree and a Master's degree in Mechanical Engineering from New York University. In addition, he received both a Juris Doctor from Columbia University School of Law, and a Master's degree in Business Administration from Columbia University Graduate School of Business

PMDA Hosts Wall Street Analyst Panel on Future of Photography and Digital Imaging

NEW YORK, NY - Two leading financial analysts addressed the future of photoimaging in a panel discussion to photo manufacturers and specialty dealers at the Photolmaging Manufacturers & Distributors Association (PMDA) meeting held in New York City recently.

Alex Henderson of Prudential Securities and Jonathan Rosenzweig of Salomon Smith Barney shared their perspectives of the photography industry with comments ranging from the standings of the top two photo companies and the surfacing of non-traditional photo companies in the industry to the current film prices and the future of digital imaging. 

Alex Henderson outlined several factors that he sees as strong diflerences in the business model between Fujifilm and Kodak. His first example is the on-going analysis of business operating procedures between the top two photo manufacturers. Henderson pointed out that Kodak is an earnings-driven company and Fujifilm is driven by cash-flow, which causes the two companies to operate in diflerent manners; yet everyone compares each company's business decisions, as if the companies operate from the same business model. Henderson urged people to keep this factor in mind when making judgements on business decisions. 

Henderson noted another inherent difference that both companies must face are consumers. In Japan, Fujifilm is the prominent product and Japanese consumers are very brand loyal. In the U.S., however, consumers' brand loyalty is very limited, creating a very different market environment for Fujifilm. Henderson believes that both companies will have to adjust some of the business decisions in marketing and positioning when targeting consumers outside of the main headquarters' country.

Henderson also touched on some of the positives that are happening at both Kodak and Fujifilm. He believes that Fujifilm's strong desire to build its market share in the U.S. will help Fujifilm drive the photo industry. The company's recent groundbreaking for additional capacity in South Carolina is a positive note, as the company already has more than two million square feet of capacity -- almost 50 acres of plant capacity under roof and with another $300 million recently announced in subsidies from the South Carolina government.

For Kodak, Henderson feels that the company is heading in the right direction. "What George Fisher did right at Kodak was bring in a lot of good people in the last 18 to 24 months, and as a result, there is a much better coherence coming out of Kodak now than there was two years ago," said Henderson.

As the industry as a whole, Henderson noted what he views as an interesting variable - a significant increase in film purchasing while film processing is not growing at the same rate. According to reports, film purchasing has averaged close to double digits in the last 18 months. Though a plus for film manufacturers, the processing volume was only up at the rate of five percent. Henderson said that the outcome will be interesting. The industry will eventually see if consumers are buying in bulk but not using the film, or simply processing in bulk later.

Another notable variable in the marketplace is digital technologies. 'The market place is rapidly moving from technologies such as film-based image processing to direct-to-plate image centers," said Henderson. "I think it is going to accelerate very dramatically as businesses figure out the last couple of hurdles to making it cost-effective."

As for digital imaging's entrance into the photo market, Henderson believes that digital photography is following Moore's Law. "I think we'll see significant improvement in image quality in what digital cameras can capture and we'll see better solutions for taking those images out of the camera and into the printing environment," said Henderson. "I don't think we are going to see digital photography impact consumer film. The market will gradually shift and in the next three to five years we'll get a price point where the growth in this industry is going to slow in the conventional consumer film markets." 

With a negative performance by the photography industry during the past year and a half, Jonathan Rosenzweig doesn't see a reason to be upbeat about the imaging sector. "In the last 17 months, this sector has had 12 earnings estimate revisions that were on average, negative," said Rosenzweig. "These negative revisions are what caused the stocks to underperform massively."

Rosenzweig attributes the negative revisions to mature photography products, as these products have declined at accelerating paces due to price and other factors. In addition, growth portfolios, such as digital imaging, have required more investment than antidpated and generated less initial returns than expected. 'To keep the earnings afloat, everyone had to cut costs until the growth portfolios could come back and drive the top line forward," said Rosenzweig. "Results thus far have not been encouraging."

Rosenzweig notes that in the consumer business, prices are declining in almost every area of conventional photography and new technology is presenting some threats from the outside.

Rosenzweig cites the following as examples:

· Digital cameras from the consumer electronic giants such as Sony and HP;

· Film business being replaced by digital storage and outside industry players are mostly providing the new products;

· Photographic paper being replaced by ink jet paper with the barriers to entry in the ink jet environment being much lower; and

· Uncomplicated distribution by the Internet and e-mail with Internet uploads in various sources being essentially free.

Regardless of price declines and threats from new technology, Rosenzweig believes the conventional camera population will peak somewhere around 2001 and then very gradually start declining thereafter. "Because 150 to 200 million active cameras are sitting out there in the field today, I think the likelihood of a steep drop off is small," said Rosenzweig.

 In terms of the digital business, Rosenzweig again stressed the importance of executing cost-effectiveness. "I think one of the mistakes a lot of the companies in this sector made in the past is throwing the spaghetti against the wall and seeing what sticks," said Rosenzweig. He advised companies to implement product-development strategies that include researching wise investments and potential money-makers, as well as knowing core competency and the areas of differentiation.

While Rosenzweig believes that expectations in the digitization sector are low, there are potential opportunities for the photo industry to rebound. "In the event that we do start to see some upside surprises, particularly again on the topline, careful execution is going to be vital," concluded Rosenzweig.

Fuji Photo Film Opens Largest Distribution Center in Edison, NJ

Fuji Photo Film U.S.A., Inc. officially opened the doors to its new Northeast Region Office and DistributionCenter in Edison, New Jersey with a ribbon-cutting ceremony on June 23, 1999. This facility is now the largest Fujifilm distribution center in North America. As part of the opening ceremonies, Fuji Photo FilmU.S.A., Inc., President Yasuo "George" Tanaka, and Edison Mayor George Spadoro delivered comments."This new, modern facility enables us to provide even better service to our many valued customers in the Northeast region," said Mr. Tanaka. "We appreciate the support of our customers, which has resulted in our continued growth in the American market and has made this move possible."

Pictured at the ribbon-cutting ceremony (left to right): Carl Gold, Vice President of Administration, Fuji Photo Film U.S.A., Inc.; Peter Visceglia, President, Federal Business Center; Henry DiGirolamo, Vice President, DiGirolamo Construction Co., Inc.; Nancy Juenemann, Associate Manager Facilities/Industrial Engineer, Fuji Photo Film U.S.A., Inc.; David Crabiel, Freeholder Director, Middlesex County, NJ; Ted McGrath, Jr., Executive Vice President, President, Photo Imaging Group, Fuji Photo Film U.S.A., Inc.; Jack Borch, Senior Regional Distribution Manager, Fuji Photo Film U.S.A., Inc.: Bob Adler, Corporate Manager Benefits/Administration, Fuji Photo Film U.S.A., Inc.; George Spadoro, Mayor, Edison, NJ; Yasuo "George" Tanaka, President, Fuji Photo Film U.S.A., Inc.; Bob Fisher, Director of Distribution, Fuji Photo Film U.S.A., Inc.; behind Mr. Tanaka, Steve Glancy, Regional Administration Manager, Fuji Photo Film U.S.A., Inc.