Lumenon Technology Draws Big Crowds At OFC 2001.

Business Editors & High-Tech Writers

ST-LAURENT, Quebec--(BUSINESS WIRE)--March 29, 2001

Lumenon Innovative Lightwave Technology, Inc. (NASDAQ NM: LUMM) today reported that its presence at this year's Optical Fiber Communications Tradeshow and Conference (March 17-23, Anaheim, CA) was an outstanding success.

Lumenon's staff was kept very busy during the 3-day show handling inquiries from many of the 30,000 conference attendees.

During the show, visitors examined Lumenon's broad portfolio of Arrayed Waveguide Grating (AWG) optical devices, including multi-channel Dense and Coarse Wave Division Multiplexers and splitter/coupler packaged components. "I think the industry's overwhelming positive response to our initial product roll-out establishes a strong beachhead from which Lumenon can continue to leverage market demand," says Dr. Iraj Najafi, Lumenon's President and CEO.

Demand for CWDM - Metro/Access Applications

At OFC Lumenon featured its 1550 and 1310 nm Coarse Wavelength Division Multiplexing (CWDM) devices for Metro and Ethernet applications. "Many network designers and managers came to OFC looking for ways to get more bandwidth out of their existing Metro fiber networks without sending deployment costs through the roof. Lumenon's 4 and 8 channel CWDM components were seen as a very viable option," says Philip Meffe, Lumenon's Vice President of Business Development and Marketing. "Lumenon has been shipping sample CWDM devices and the response has been very positive. It's clear that CWDM deployment represents a real and present opportunity for Lumenon," he concluded.

Litton Poly-Scientific COADM Simulates Integration Inquiries

OFC attendees were also interested in Lumenon's announcement that it will co-develop an advanced MEMS-based Configurable Optical Add-Drop Multiplexer (COADM) with Litton Poly-Scientific. "The real power of semi-conductor technology in general, and Lumenon's hybrid glass based manufacturing process in particular, is its potential to integrate passive and active devices into a single, small footprint, high performance component," says Dr. Mark Andrews, Lumenon's Vice President and CTO. "I think for many of the visitors to our booth, the development of this COADM helped to confirm our potential capability for integration. Lumenon's patented hybrid glass manufacturing process opens up very real opportunities to combine devices like TAPs, Mux/Demux, VOAs and amplifiers onto a single substrate."

About Lumenon Innovative Lightwave Technology, Inc.:

Lumenon Innovative Lightwave Technology, Inc. designs, develops and builds integrated optics devices in the form of compact hybrid glass circuits on silicon chips. These photonic devices - based upon Lumenon's breakthrough hybrid glass technology and patented PHASIC(TM) process - offer communications providers the ability to dramatically boost bandwidth in fiber optic cabling, the pipeline for today's burgeoning telecommunication, data communication and cable industries.

For more information about Lumenon Innovative Lightwave Technology, Inc., visit the Company's Web site at http://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 as a result of various important factors, including those discussed in the Company's Quarterly Reports on Form 10-Q for the quarterly period ended December 31, 2000, which is on file with the Securities and Exchange Commission.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE.

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