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Neonode Completes Financial Restructuring and Launches New Touch Screen Solution Subsidiary.

BARCELONA, Spain -- Neonode, Inc. (NEON.OB), the Swedish mobile technology company, today announced the launch of Neonode Technology AB, a new wholly owned subsidiary that focuses entirely on providing and developing optical touch screen solutions for hand-held devices. Neonode, Inc. has recently completed a financial restructuring, including the conversion of debt to equity and a capital raise transaction.

The Company is a leading provider of optical touch screen solutions for hand-held devices. By launching Neonode Technology and completing the financial restructuring, the Company can further increase its development resources in the field of optical touch systems for hand-held devices. The Company, through its touch screen solution subsidiary, aims to be at the center of development of the next generation of hand-held touch screens. With its engineering design expertise, Neonode Technology also plans to help customers implement customized touch screen solutions.

"The demand for touch screens for hand-held devices is booming. Mobile phones, GPS devices, E-books are all becoming high volume products and the touch screen is often the most expensive part of a device. Industrial hand-held touch screen usage also is increasing significantly. Our plan is to establish ourselves as the leader in the field of hand-held touch. With the aid of the new optical technologies that we are developing, we feel confident that we can challenge the prevailing resistive and capacitive touch screen technologies," said Thomas Eriksson, CEO of Neonode Technology AB and co-founder of Neonode, Inc.

For more information:
Thomas Eriksson, CEO, Neonode Technology AB
Linnegatan 89
11523 Stockholm, Sweden
Tel: +46 8 521 337

David Brunton, CFO, Neonode, Inc.
Tel: +1 925 768 0620

About Neonode Technology AB.

Neonode Inc. is a leading provider of optical touch screen solutions for hand-held devices. zForce[TM] is the name of Neonode's proprietary patented touch screen technology. Neonode Technology, a wholly owned subsidiary of Neonode, Inc., has its base in Stockholm, Sweden. Neonode Inc is listed on the OTC BB under the symbol NEON.OB.

Forward-Looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties, including statements regarding future products and technology developments. Such statements are only predictions and the company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the ability of Neonode to develop and sell new products and technologies. These factors and others are more fully discussed in the documents the company files from time to time with the Securities and Exchange Commission, particularly, the company's most recent Form 10-K and Form 10-Q. Neonode and the Neonode logo are registered trademarks of Neonode Inc.
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Publication:Business Wire
Date:Feb 18, 2009
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