PicoP Laser Projector Announced

Pico Projector (PicoP) is the miniature of laser based projector display; which is developed by Microvision (Alexander Tokman). PicoP Laser Projector is very small it can fit into your mobile phone and display a laptop-sized quality image on surfaces of half a meter away for applications like video streaming, digital TV, internet surfing and high resolutions photographs.

PRESS RELEASE:

Microvision Signs Development Agreement With Laser OEM

Agreement is Part of Company’s Effort to Accelerate Laser Development

REDMOND, Wash.–(BUSINESS WIRE)–July 26, 2006–Microvision, Inc. (Nasdaq:MVIS - News), the leader in light scanning technologies for display and imaging products, announced today that it has entered into a development agreement with a laser supplier for the design and development of green laser systems for its MEMS-based laser-scanning projection systems. For confidentiality reasons, the name of the laser supplier was not disclosed.

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Under the agreement, Microvision will fund several design and development activities undertaken by the laser OEM with the objective to develop an improved green solid-state laser light source to be used in scanning applications designed and manufactured by or for Microvision. Microvision expects this development effort to yield prototype devices suitable for integration into its rapidly evolving, highly miniaturized Integrated Photonics Module (IPM) device architecture. Microvision has previously announced that it is focusing on three primary applications for IPM: automotive and aero heads-up display applications (MicroHUD(TM)), a personal projection display (PicoP(TM)) applications, and personal color eyewear.

“Rear-projection television and now miniature projection scanned beam displays have created a strong market pull for green laser technology and consequently we’ve witnessed some incredible gains over the past year in its design and development,” said Alexander Tokman, President and Chief Executive Officer of Microvision. “We have decided to take greater control of our destiny by being more actively engaged in the definition, development and maturation of cost-effective solid-state high-frequency modulated green lasers.”

About Microvision: www.microvision.com
Headquartered in Redmond, Wash., Microvision, Inc. is the world leader in the development of high-resolution displays and imaging systems based on the company’s proprietary silicon micro-mirror technology. The company’s technology enables solutions and products in a broad range of industrial, consumer, military, and medical applications.

Forward-Looking Statement
Certain statements contained in this release, including those relating to future technology solutions and product applications, and statements using words such as “expects,” are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: capital market risks, our ability to raise additional capital when needed; market acceptance of our technologies and products; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims, risks related to Lumera’s business and the market for its equity and other risk factors identified from time to time in the company’s SEC reports and other filings, including the Company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

Contact:
Microvision, Inc.
Jeff Wilson, 425-882-6625 (Investors)
Matt Nichols, 425-882-6657 (Media)
Source: Microvision, Inc.