LightPath Technologies, Inc. Adds Optics Industry Veteran As Vice President of Marketing and Sales

Business Wire, Sept 29, 1997

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--September 29, 1997--

Mark Fitch's Mandate Is to Continue Expanding Traditional Optics

Markets and Forge Emerging Markets for GRADIUM(r) Glass

Mark Fitch, 35, formerly Vice President of Operations at precision-optics supplier Geltech and a Chief Engineer at Corning, has been appointed Vice President of Marketing and Sales at LightPath Technologies, Inc. (Nasdaq: LPTHA/LPTHU), producer of patented GRADIUM(r) glass materials for high-performance industrial, imaging, optoelectronic (photonic) and consumer applications.

Mr. Fitch will work to expand LightPath's presence in the traditional optics markets, where GRADIUM technology can offer improved performance and lower cost in applications including cameras, binoculars, lasers diodes and specialized television lenses. In addition, Mr. Fitch will be responsible for developing emerging optoelectronic and photonic markets, including solar energy, wafer chip inspection as well as government-funded research. GRADIUM glass is the only optical material that can precisely "steer" light internally, collect and concentrate energy, separate wavelengths of high-speed data streams and be manufactured cost-effectively in all sizes and volumes.

Mr. Fitch was most recently Vice President of Operations at Geltech, Inc., where he was responsible for all aspects of manufacturing, purchasing, marketing, sales and process engineering for this producer of high-precision molded glass aspheric lenses and advanced ceramic materials and components. During his tenure, revenues increased from less than $2 million to $6 million in two years, and manufacturing capacity increased ten fold without additional funding.

Prior to this, Mr. Fitch spent almost 10 years at Corning, Incorporated, where he held a series of technical, marketing and management positions. His final post there was as Chief Engineer of the Precision Molded Optics (PMO) business. Heading up the PMO business, Mr. Fitch managed product, process and market development and gained international recognition as an expert in the design and production of aspheric lenses for use in semiconductor laser systems. "Mark Fitch brings to LightPath an impressive track record of marketing and operations accomplishments in both corporate and entrepreneurial settings within the optics industry," said Donald Lawson, Executive Vice President and Chief Operating Officer at LightPath. "As LightPath continues to move into new photonics markets, Mark will help us grow revenues and expand our reach. His knowledge of our industry is deep."

In 1992, Mr. Fitch was awarded the prestigious Corning Marketing Excellence Award for his repositioning of the PMO business and for leveraging the division into broader markets.

LightPath Technologies, Inc. manufactures GRADIUM materials - cost effectively and in large volumes - at its headquarters in Albuquerque. The Company has 13 patents associated with the process to manufacture GRADIUM glass, which has unprecedented light-bending properties. LightPath common stock trades under the NASDAQ stock symbol LPTHA. LightPath units, comprised of common stock and warrants, trade under the NASDAQ stock symbol LPTHU.

CONTACT: Frank Sommerfield Communications, Inc.

(212) 255-8386

mail@sommerfield.com

LightPath Web site:

http://www.light.net