Excel Technology, Inc. Authorizes Stock Buy Back

Business Wire, Nov 7, 2006

EAST SETAUKET, N.Y. -- Excel Technology, Inc. (NASDAQ: XLTC) announced today that its Board of Directors had authorized a stock buy-back plan. The buy-back program authorizes the repurchase of up to 2,000,000 shares of its Common Stock, or 16.6% of the shares of Common Stock currently outstanding.

The shares may be repurchased from time to time in open market transactions or privately negotiated transactions at the Company's discretion, including the quantity, timing and price thereof.

Excel and its wholly owned subsidiaries manufacture and market photonics-based solutions, consisting of laser systems and electro-optical components, primarily for industrial/commercial and scientific applications.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act

This news release contains forward-looking statements, which are based on current expectations or beliefs concerning future events. Actual results could differ materially from those discussed or implied in the forward-looking statements as a result of various factors including future economic, competitive, regulatory, and market conditions, future business decisions, and those factors discussed in the Company's Form 10-K for the year ended December 31, 2005. In light of the significant uncertainties inherent in such forward-looking statements, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of anticipated events.