Emerging Nanotech Leader Lumera Secures $1.1 Million Government Contract

Feb 15, 2005, 00:00 ET from Lumera Corporation

    BOTHELL, Wash., Feb. 15 /PRNewswire-FirstCall/ -- Lumera Corporation
 (Nasdaq:   LMRA), an emerging leader in the field of nanotechnology, has been
 awarded a $1.11 million contract extension from a U.S. government agency to
 continue development of wideband optical modulators.
     The new contract extension was awarded to transition Lumera's proprietary
 electro-optic polymers into high performance devices by developing custom
 polymers that are critical in other parts of the device.  The overall contract
 value has now reached approximately $4.7 million.
     "This latest contract agreement is a validation of our product development
 strategy and supports Lumera's approach of designing materials for the whole
 system to complement our leading electro-optic performance," said Lumera Chief
 Executive Officer Tom Mino.  "We believe these high performance devices have
 the strong potential to enable a whole new generation of fiber optic and
 wireless communication systems and we remain optimistic that we can play a
 role in this evolution."
     Lumera is developing a new generation of unique active and passive
 components for optical networks that are expected to deliver increased
 bandwidth at very competitive costs while requiring less power than current
 devices.  The company's component development is based on both internally
 developed proprietary electro-optic and passive polymer materials and
 exclusively licensed materials from the University of Washington.
     Optical modulators are applicable to a range of commercial markets
 including companies who own and operate long-haul and metropolitan optical
 networks.  Lumera is developing wideband optical modulators that could enable
 the next generation of communication networks, including hybrid wireless-fiber
 optic networks.
     Lumera is in the process of commercializing additional materials developed
 through nanotechnology in other industries, including biotechnology.  These
 technologies may dramatically improve a number of key biotech arenas ranging
 from bio-arrays to drug discovery.
     About Lumera
     Lumera is an emerging leader in the field of nanotechnology.  The company
 designs proprietary molecular structures and polymer compounds for a broad
 range of electro-optic, bioscience, RF and specialty nanotechnology
 applications.  The company also has developed proprietary processes for
 fabricating such devices.  For more information, please visit
     Certain statements contained in this release 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: market acceptance
 of our technologies and products; our ability to obtain financing; our
 financial and technical resources relative to those of our competitors; our
 ability to keep up with rapid technological change; 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 and to develop partnership opportunities; the timing of
 commercial product launches; the ability to achieve key technical milestones
 in key products; and other risk factors identified from time to time in the
 company's SEC reports, including in its registrations statement on Form S-1,
 dated July 22, 2004 and its Quarterly Reports on Form 10-Q.

SOURCE Lumera Corporation