LightPath Technologies, Inc., is pleased to announce that it has begun shipments of molded aspheric lenses to several large OEM manufacturers of consumer and industrial laser tools. These shipments are to satisfy contracts with our OEM partners that we announced in January and June of 2008. LightPath Technologies has completed the qualification process for the lenses to be supplied under the contracts and is increasing its production levels by 200% from 40,000 lenses per month to an anticipated 120,000 lenses per month in August 2009 to meet the projected order volume.

Jim Gaynor, the CEO of LightPath Technologies, commented, "The success of our laser tool line of aspheric lenses is a demonstration of our progress in providing a low cost platform for the manufacture of high precision glass molded aspheric lenses. These lenses are being adopted by our customers because they provide a cost savings over traditional spherical doublet and triplet lenses without sacrificing performance. We anticipate continued design wins in this market in the near future and continued production increases over the next several quarters."

Mr. Gaynor continued, "LightPath Technologies, over the last 18 months, has been executing its strategy of improving its cost structure, expanding its markets and addressing higher production volumes. A key part of this strategy is to reduce costs and to increase capacity to be competitive in the lower cost, higher volume consumer based optical markets. We have reached a significant milestone in our strategy with these initial high volume production deliveries to our OEM customers."