Novalux Reaches Important Milestone on Laser Development for Miniature Projection Displays

Novalux Reaches Important Milestone on Laser Development for Miniature Projection Displays

2007 International CES

SUNNYVALE, Calif., & REDMOND, Wash.--(BUSINESS WIRE)--Novalux, Inc., developer of Necsel(TM) laser technology announced today that it will demonstrate during the Consumer Electronics Show in Las Vegas, a ground-breaking prototype miniature projector based on Microvision's (NASDAQ:MVIS) Integrated Photonics Module (IPM (TM)) technology. The ultra-thin, miniature, full-color projection display, which is small enough to be embedded in portable hand-held devices including mobile phones, contains the latest generation of Necsel-based green lasers developed by Novalux.

"We firmly believe in the growth of the ultra-miniature laser scanning display market, and we are excited to be working with Microvision, a world leader in this product category," said Jean-Michel Pelaprat, CEO of Novalux. "In order to help Microvision bring their ultra-thin, miniature, full-color projection display product to market, we mobilized our internal development efforts to accelerate the maturation of the Necsel green laser technology optimized for such applications. Novalux believes that ultra-thin miniature projectors such as the design from Microvision represent one of the most exciting market opportunities for low power, low cost green lasers, and we are ramping up our internal investment in anticipation of growing market demand."

"This is a very exciting time for Microvision because the green laser is a critical component in the successful commercialization of our tiny display engine," said Alexander Tokman, CEO of Microvision. "This collaboration, which we initiated in July 2006, has been very fruitful, and we are extremely pleased with the progress made by the Novalux development team. This development further demonstrates that we are on the path to providing commercial products that are being demanded by our prospective OEM partners."

About Novalux:

Headquartered in Sunnyvale, CA, Novalux has developed proprietary Necsel™ laser technology. Necsel technology combines mass volume manufacturability with excellent optical performance. Necsel device attributes include bright, reliable, consistent, speckle-free light output from a compact, low-cost package, making them ideal for current- and next-generation display applications.

For more information about Novalux, please contact Executive Vice President of Marketing Greg Niven at (408) 773-3433, or visit www.novalux.com.

About Microvision:

Headquartered in Redmond, Wash., Microvision Inc. is the world leader in the development of high-resolution displays and imaging systems based on the company's proprietary silicon micro-mirror technology. The company's technology has applications in a broad range of consumer, medical, industrial, professional and military products.

For more information about Microvision, please contact ir@microvision.com, or visit www.microvision.com

Forward Looking Statement -- Microvision

Certain statements contained in this release, including those relating to plans for product development, expected product benefits, potential applications and future commercial arrangements as well as statements containing words like “believes,” “expects,” ” “plans,” “should,” “will,” and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company's forward-looking statements include the following: the risk that we will not achieve the expected goals of our development agreements, our ability to raise additional capital when needed; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; risks related to Lumera's business and the market for its equity, market acceptance of our technologies and products; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards;; potential product liability claims and other risk factors identified from time to time in the company's SEC reports, including the Company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.