Lumenon Innovative Lightwave Technology, Inc.; OFC 2000, Trading on OTC BB.

Business Editors

ST-LAURENT, Quebec--(BUSINESS WIRE)--March 8, 2000

(OTCBB:LUMM) Lumenon Innovative Lightwave Technology, Inc. is pleased to announce that it unveiled, at the Optical Fiber Communication exhibit, OFC 2000, its PHASIC(TM) hybrid glass process technology for optical chip manufacture. The exhibit is taking place at the Baltimore Convention Center, March 7-9, 2000. At OFC, the Company also introduced its fully packaged 100 GHz 8-channel DWDM along with its suite of wafer level 16 and 32 channel DWDM components. These belong to Lumenon's current family of Lambda-PLEX bandwidth solutions for telecom. Preliminary specifications of Lumenon's 8-channel DWDM are available at www.lumenon.com.

Lumenon is also pleased to announce that it should resume tomorrow trading of its Common Stock on the over-the-counter Bulletin Board (OTC BB), under the symbol LUMM. The Company is pursuing its efforts to have its Common Stock traded on the NASDAQ National Market. No assurances can be given that the NASDAQ application will be accepted.

Lumenon designs, develops and builds integrated optics devices in the form of compact hybrid glass circuits on silicon chips. Lumenon's shares are listed under the symbol LUMM (OTC BB). For more information on Lumenon contact: Stephen Litwin, Investor Relations, Tel. [phone], Fax: [phone]. More information on Lumenon is available at www.lumenon.com.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction.