ALBUQUERQUE, N.M. -- LightPath Technologies, Inc. (Nasdaq: LPTH - news), manufacturer of families of high performance fiber optic components for the telecom industry, announced today that it has signed a follow-on agreement with Corning Incorporated (NYSE: GLW - news) outlining specification criteria and delivery expectations for LightPath's large beam collimators for the next two years. LightPath previously announced in May 2000 that it had been selected as the primary supplier of this customized collimator built specifically for Corning's PurePath(TM) Wavelength Selective Switch and over the past six months have shipped approximately $1 million in product. Under the terms of this agreement, deliveries for the next 12 months are projected to be approximately $3.3 million with delivery levels for the following 12 months to be determined at a later date.

Steve Barna, LightPath Vice President of Marketing and Sales, commented, "I am pleased with the expansion of orders from Corning and our opportunity to provide an integral component of their switch product. Our efforts to broaden our telecom optical component offerings and expand our manufacturing capacity to handle larger volume orders will continue to pay off as our business grows. With one month left in the current quarter, our sales bookings continue to reflect positive quarter-to-quarter growth."

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