EMCORE, Lockheed Martin Sign Solar Cell Agreement

Business Wire, Sept 14, 1998

SOMERSET, N.J.--(BUSINESS WIRE)--Sept. 14, 1998--EMCORE Corporation (Nasdaq:EMKR) today announced that it has entered into an agreement with Lockheed Martin Missiles and Space (LMMS) of Sunnyvale, California, for the technical management and support of a LMMS/Sandia National Laboratory Cooperative Research and Development Agreement (CRADA) for the advancement, transfer, and commercialization of a new compound semiconductor high efficiency solar cell. LMMS is a strategic business unit of Lockheed Martin Corporation (NYSE: LMT). The EMCORE/LMMS agreement will commence upon the start of the LMMS/Sandia CRADA, now planned for early October 1998. LMMS will grant EMCORE a sub-license for all CRADA related intellectual property developed on behalf of and in conjunction with LMMS. Additionally, as part of this strategic agreement, EMCORE and LMMS will jointly qualify and validate the high efficiency solar cells for operational satellite use.

"The new compound semiconductor based solar cell will bring technical efficiencies and economic advantages for next generation satellite systems," said Leonard F. Kwiatkowski, Vice President of LMMS' Missiles and Space Products Center.

"This strategic agreement represents a vote of confidence for our advanced compound semiconductor technology and manufacturing processes," said Reuben Richards, President and CEO of EMCORE. "This agreement positions EMCORE as the preferred compound high efficiency solar cell provider for our current and future solar cell customers. We are pleased to partner with Lockheed Martin, a recognized industry leader, and we are confident that our high efficiency solar cell designs will make an important contribution to the continued advancement of the satellite communications industry."

EMCORE Corporation is the leading provider of integrated compound semiconductor solutions and the world's largest supplier of compound semiconductor epitaxy wafers. Manufacturers throughout the world use EMCORE's MOCVD production systems and processes as the enabling technology behind a variety of advanced photonic and electronic applications. Recently, the Company's headquarters in Somerset, NJ attained ISO 9001 certification and its Pegasus MR manufacturing division attained ISO 9002 QS 9000 certification. For further information about EMCORE, visit http://www.emcore.com.

Lockheed Martin Missiles & Space is a leading supplier of satellites to military, civil government and commercial communications customers around the world. These spacecraft have enhanced military and civilian communications; provided critical weather information for civil and military planners; and enabled space-based surveillance for a variety of applications. More than 750 Lockheed Martin spacecraft have been launched since 1958. More information about LMMS is available on their website at http://www.lmms.lmco.com

The information provided herein may include forward-looking statements relating to future events, such as the development of processes, the commencement of production, or the future financial performance of the Company. Actual operating results may differ from such projections, and are subject to certain risks including, without limitation, risks arising from: changes in semiconductor industry growth, increased competition, delays in developing and commercializing new products, labor actions against the Company's customers or vendors, and other factors described in the Company's recent filings with the Securities and Exchange Commission.

CONTACT: EMCORE Corporation, Somerset, NJ 08873

Peter Broskie

Marketing Communications Manager

732-271-9090

or

Morgen-Walke Associates, Inc.

Michele Katz/Connie Bienfait/Randy Hecht/Jonathan Rebell

Press: Lee Foley/Hud Hellman

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