Gilder Technology Report

Gilder Technology Report July 2004 Cover Story on Microvision:

"There's only one answer to the mobile device display problem and Microvision has the answer."

-- Microvision expects 'significantly' higher sales in 2Q2004 due to the first shipments of its Nomad Expert Technician System.

-- 4th generation mirrors and optics will be suitable for high-volume consumer products like cell phones.

-- Microvision's technology benefits from Moore's Law improvements. Increasing wafer size and shrinking mirror size allow cheaper manufacturing, becoming more suitable for more applications, increasing volumes, lowering costs further.

-- Microvision imaging systems offer resolution and performance that represent major advance for imaging.

-- Large target market for Nomad Expert Technician System: 850,000 auto technicians in US alone.

-- Technology sector more undervalued now than at March 2003 bottom, more undervalued than any time since spring 2001, which set the stage for a 41% rally in seven weeks.