BOTHELL, Wash. and PALO ALTO, Calif. -- Lumera Corporation (NASDAQ:LMRA - News) and privately owned GigOptix LLC, today announced the completion of their planned merger transaction, which is effective today. The combined company will conduct business as GigOptix, Inc. (GigOptix), and its common stock will trade beginning tomorrow, December 10, on the OTC Bulletin Board, which is not a national securities exchange, under the symbol GGOX.

Under the terms of the merger agreement, GigOptix LLC securityholders are receiving approximately 0.1375 shares of GigOptix, Inc. common stock for each GigOptix LLC membership unit, and Lumera Corporation stockholders are receiving 0.125 shares of GigOptix, Inc. common stock for each share of Lumera Corporation common stock. Lumera Corporation stockholders holding stock certificates will soon receive share exchange instructions.

The Lumera closing bid on December 9, 2008 was $1.72, as adjusted to reflect a 1 for 8 reverse stock split.

The combination, which was announced on March 27, 2008, was approved by the GigOptix securityholders on March 26, 2008 and by Lumera Corporation stockholders at a meeting held on December 4, 2008.

Lumera Corp.