Triton Systems, Inc. Spins-off Ceracom, Inc.; Ceramight, Ltd. Acquired.

Business/Technology Editors

CHELMSFORD, Mass.--(BUSINESS WIRE)--April 1, 2002

Triton Systems, Inc. (TSI), a materials product and process development firm, announced it has spun-off its Extreme Environment Composites group. The company spin-off, named Ceracom, Inc., will manufacture ceramic and ceramic matrix composites (CMCs). CMCs are a class of ceramics that are combined with metal, polymers or fiber to create strong, lightweight, and highly durable components used in extreme environments where high temperatures and harsh elements are a factor. "The company elected to spin-off Ceracom as a wholly owned affiliate in order to promote technical and business development in ceramic composite technology that targets the growing extreme environment materials markets, now in excess of $12 billion per annum," explained TSI Chairman, Mr. Ross Haghighat. "In the near future, this move will result in commercial products such as modules for high temperature fuel cells, as well as defense applications including laser mirrors, rocket nozzles and turbine engine components."

In a simultaneous move, Ceracom acquired Ceramight, Ltd., of Israel. Under the agreement, Ceracom will obtain Ceramight's patented ceramic-metal composite technology, also called Ceramight(TM), and maintain a base in Yavne, Israel as Ceracom Materials Israel (CMI) Limited. Mr. David Model, CEO of Ceracom and CMI, noted that, "acquiring Ceramight was a crucial piece of the Ceracom strategy to offer a broad portfolio of advanced ceramics products to our customers. Ceramight(TM) composite material is extremely erosion-resistant in very high temperatures and highly corrosive environments - making it ideal for rocket propulsion and aerospace applications."

Also vital to the company's business is its enhanced vapor infiltration process (ENVI(TM)). ENVI(TM) is a low cost, rapid fabrication method for making ultra light, ultra strong, ultra durable CMCs that are much larger, significantly thicker and more complex in shape (from rocket thrust chambers and golf clubs to large meters size CMC panels and structures). "ENVI(TM) has the capability to rapidly produce complex CMCs at much lower cost than other processes," said John Garnier, Ph.D., Ceracom's Vice President of Business Development. "For example, lower costs will foster development of cost competitive micro turbine CMC engines having high fuel efficiency for commercial transportation and energy applications."

Ceracom has active programs with the Department of Energy, NASA, Army, Air Force, and Navy. Current programs range from advanced light ballistic armor, multi-hybrid composites, thermal protection systems, advanced structures for large satellites, directed energy optics, rocket nozzles including altitude and divert control nozzles.

Ceracom is planning a move into a 40,000 sq foot facility to increase its manufacturing capabilities. The new facility will be located near Chelmsford, MA.

About Triton Systems, Inc.

Triton Systems is a privately held leading materials product and process development firm dedicated to creating innovative products in emerging materials markets. The company was founded in 1992 and is located in Chelmsford, MA.