Precision Optics Corporation Announces Receipt of Notice From Nasdaq

    GARDNER, Mass., Oct. 21 /PRNewswire-FirstCall/ -- Precision Optics
 Corporation, Inc. (Nasdaq:   POCI) announced today that on October 19, 2004 it
 received a letter from the Nasdaq Stock Market notifying the Company that for
 the 30 consecutive trading days preceding October 19, 2004, the bid price of
 the Company's common stock had closed below the $1.00 per share minimum
 required for continued inclusion on The Nasdaq SmallCap Market. The letter
 further stated that the Company has been provided 180 calendar days, or until
 April 18, 2005, to regain compliance with the $1.00 per share bid price
 requirement. To regain compliance with the bid price requirement, the bid
 price of the Company's common stock must close at or above $1.00 per share for
 a minimum of ten consecutive trading days prior to April 18, 2005.  If by
 April 18, 2005 the Company has not regained compliance with the minimum bid
 price requirement, the Company may be granted an additional 180 day grace
 period to regain compliance under applicable Nasdaq rules, provided it meets
 The Nasdaq SmallCap Market initial listing criteria (other than the minimum
 bid price requirement) at that time.
     The Company intends to monitor the bid price for its common stock between
 now and April 18, 2005.  If its common stock does not trade at a level that is
 likely to regain compliance, the Company's Board of Directors will consider
 options available to the Company to achieve compliance.
     About Precision Optics
     Precision Optics Corporation, a leading developer and manufacturer of
 advanced optical instruments since 1982, designs and produces high-quality
 optical thin film coatings, medical instruments, and other advanced optical
 systems.  The Company's medical instrumentation line includes laparoscopes,
 arthroscopes and endocouplers and a world-class product line of 3-D endoscopes
 for use in minimally invasive surgical procedures.
     The Company is currently developing specialty instruments incorporating
 its patent-pending LENSLOCK(TM) technology which ensures lower cost, easier
 repairability and enhanced durability as well as ultra-small instruments (some
 with lenses less than one millimeter in diameter) utilizing patent-pending
 micro-precision(TM) lens technology. The Company is also exploring new
 initiatives in single-molecule technology and nanotechnology for biomedical
 and other applications.
     Precision Optics Corporation is certified to the ISO 9001 Quality
 Standard, and complies with the FDA Good Manufacturing Practices and the
 European Union Medical Device Directive for CE Marking of its medical
 products.  The Company's Internet Website is .
     Forward-Looking Statements
     Forward-looking statements contained in this news release, including those
 related to the Company's products under development, are made under "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995 and
 involve a number of risks and uncertainties that could materially affect
 future results. These risks and uncertainties, many of which are not within
 the Company's control, include, but are not limited to, the uncertainty and
 timing of the successful development of the Company's new products; the risks
 associated with reliance on a few key customers; the Company's ability to
 maintain compliance with requirements for continued listing on the NASDAQ
 SmallCap Market; the Company's ability to attract and retain personnel with
 the necessary scientific and technical skills, the timing and completion of
 significant orders; the timing and amount of the Company's research and
 development expenditures; the timing and level of market acceptance of
 customers' products for which the Company supplies components; performance of
 the Company's vendors; the ability of the Company to control costs associated
 with performance under fixed price contracts; and the continued availability
 to the Company of essential supplies, materials and services; and the other
 risk factors and cautionary statements listed from time to time in the
 Company's periodic reports filed with the Securities and Exchange Commission,
 including but not limited to, the Company's Annual Report on Form 10-KSB for
 the year ended June 30, 2004.

SOURCE Precision Optics Corporation, Inc.

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