LightPath Technologies Introduces New Class Of Ultra-Fast GRADIUM Lenses

Business Wire, March 3, 1997

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--March 3, 1997--

Fast GRADIUM "Singlet" Contains More Functionality than Any

Other Lens Element Available

LightPath Technologies, Inc. (NASDAQ SYMBOL-LPTHA/LPTHU) introduced today a new class of ultra-fast GRADIUM (TM) lenses that contain more functionality than any other single lens element, or singlet, available.

Designed for the next generation of light collecting, fiber optic coupling and laser beam steering applications, the new line of fast GRADIUM lenses anticipates emerging performance requirements of the medical imaging, telecommunications, industrial laser, semiconductor inspection and optical storage industries. LightPath's patented GRADIUM technology yields internal light-bending and color-separating properties not found in other high-end, state-of-the-art glass and plastics.

The new fast, GRADIUM lenses provide a 10- 20-fold increase in tightness of focus and smallness of "spot size" compared with any conventional or "homogeneous" lens used in high-performance applications.

A key advantage of a GRADIUM lens compared with conventional high-performance optics is that it can integrate the functions of a multi-lens system in one monolithic lens or unit. The result is greater light, focusing power and color-separating capabilities, plus increased ruggedness. The fast GRADIUM line includes 12 ultra-fast lens types in sizes ranging from 5 to 80 mm, at 5 to 125 mm focal lengths. These augment the existing line of 31 GRADIUM lenses proven to provide major enhancements as replacement optics.

"We have already incorporated an early fast GRADIUM singlet lens in the YAG laser we manufacture for the auto industry," said Craig Marley, laser product manager at Monrovia, Calif.-based Unitek Miyachi Corporation. "The fast GRADIUM lens increased weld penetration by 40% without sacrificing assembly line speed, enabling us to win, hands down, a major contract with a domestic auto maker."

GRADIUM lenses are also enabling laser beams to deliver more power for the manufacture of medical equipment aerospace and computer hardware. The lenses are also yielding a new level of precision -- 100 times greater resolution -- in the inspection and metrology of semiconductor wafers.

"We're convinced that fast GRADIUM lenses redefine the state-of-the-art in high-performance optics," said LightPath chairman, Leslie A. Danziger. "We are committed to continuing to optimize GRADIUM technology to integrate more and more functions within a single lens element or optical component. This anticipates the paradigm shift in optics that will be necessitated by increasing performance demands in such industries as telecommunications, computing, digital imaging, auto manufacturing and environmental sensing."

LightPath Technologies, Inc. raised approximately $8 million in a February 22, 1996 initial public offering. The company manufactures GRADIUM materials -- cost-effectively, in small and large volumes -- at its headquarters facility and has 10 patents, and several more pending, associated with the process to manufacture GRADIUM glass and plastics.

LightPath common stock trades under the NASDAQ stock symbol LPTHA. LightPath units, comprised of common stock and warrants, trade under NASDAQ stock symbol LPTHU.

For technical summary of the new fast GRADIUM lenses, please contact Frank Sommerfield Communications at 212/255-8386 or, by e-mail, at mail@sommerfield.com

CONTACT: LightPath

Frank Sommerfield Communications, Inc.

212/255-8386