Luminit Announces Strategic Alliance Agreement with Asahi Kasei Corporation for Holographically Mastered Light Diffusers

Business Wire, Feb 20, 2008

TORRANCE, Calif. -- Luminit LLC, a worldwide leader in technical innovation in shaping and diffusing light, today announced it has entered into a strategic alliance agreement with Asahi Kasei Corporation to transfer patented holographically mastered light diffusion technology. The alliance includes a technology transfer agreement and development agreements as well as a minority investment by Asahi Kasei Corporation in Luminit.

Engin Arik, PhD., president and CEO of Luminit, commented, "We are excited about this strategic relationship with Asahi Kasei Corporation and look forward to working with them. Their investment in Luminit will enable significant expansion of our capabilities to better satisfy the requirements of our strategic partner, our customers and our distributors. Asahi Kasei's engineering assistance will also be very valuable to help us improve and expand our capabilities."

Dr. Kageyasu Akashi, director, executive officer and general manager of business development for Asahi Kasei Corporation, said: "We believe that this agreement will result in accelerated product development and mutual growth through the synergistic effect of the strategic alliance and the production technologies held by Asahi Kasei with Luminit's technology."

Asahi Kasei Corporation, headquartered in Tokyo, is a major international corporation in the petrochemical, electronic devices and materials, fibers, pharmaceuticals, medical devices, housing and construction markets.

Luminit (www.luminitco.com) is a privately held, high technology company specializing in custom and standard holographic diffusers based on multiple technology patents. Luminit's commercial experience covers applications including bio-medical, semiconductor metrology, aerospace, automotive, architectural lighting and display applications. Luminit's Light Shaping Diffusers[R] are available directly or through a network of domestic and international distributors. Luminit was formerly the Light Shaping Display Division of Physical Optics Corporation.