CyOptics Appoints Ed Coringrato as President & CEO; Former CEO John Pilitsis Named As Industry Director and Will Serve as a Special Advisor to Company.

LEHIGH VALLEY, Pa. -- CyOptics, Inc., a leading supplier of high-speed optical engines for broadband communication solutions, today announced the appointment of Ed Coringrato as President, Chief Executive Officer and board member. Coringrato, formerly Vice President of Business Development for CyOptics, has been instrumental in driving the company's growth since joining CyOptics in February of 2003 through the acquisition of CENiX. Under Coringrato's leadership, CyOptics has introduced new lines of businesses and secured a number of industry supply agreements.

Additionally, CyOptics announced that John Pilitsis, former President & CEO of CyOptics, who is retiring, has joined the CyOptics Board as an industry director. Pilitsis will also serve as a special advisor to the company on issues of strategic positioning and market development.

"Ed will drive the next phase of business growth and strategic development for CyOptics," said Erel Margalit, CyOptics Chairman of the Board. "CyOptics has grown six-fold in 2004 and looks to continue this type of growth under Ed's leadership as CyOptics moves forward in bringing its products and services to the market, while pursing opportunities for further diversification of the business."

Coringrato has 23 years of industry experience in telecom and 12 years of experience in optoelectronics. He was a co-founder of CENiX, Inc., an optical start-up that was formed in 2000 to develop high-speed optical transponders, where he served as the company's Chief Financial Officer. His professional career also includes a diverse set of positions at AT&T/Lucent Technologies in engineering, marketing & sales, strategic planning and product management. Most recently he was Director of Strategic Planning & Business Development for Lucent's Optoelectronics Group.

"I look forward to continuing the momentum that has been established at CyOptics," said Coringrato. "We have a unique combination of highly experienced team members, differentiated technology and a tier-one customer base. Our focus will remain on executing against the strategic and operational plans that we have put in place."

About CyOptics

CyOptics develops, designs and manufactures optical engines for broadband metro and access communications solutions. The company's primary focus is to maximize component module functional density/price$ by providing modules that are 5 times smaller than the current industry standard modules and require less electrical operating power. High volume production is enabled by using a highly flexible, "nano-tech" capable robotic manufacturing that delivers high uniformity and low cost. The CyOptics team consists of industry veterans that have had management and technology positions with key players including Bell Labs, Lucent Technologies and National Semiconductor. The Company's wafer/chip fabrication operations are located in Yokneam Illit, Israel while its automated packaging and testing operations are located in Lehigh Valley, PA USA. CyOptics is ISO 9001:2000 certified. For more information please visit www.cyoptics.com or call 1-610-336-5758.