J.Donald Hill, chairman, commented, “Japan represents a very important market to us and we are pleased with the opportunity to have direct representation.” Antonie Dominic, Chief Executive Officer, stated, ”This was an absolute necessity as it expands the company’s technology and solutions in to the Japanese market place. Japan, the second largest economy in the world and a leader in advanced technology and manufacturing solutions is the gateway to Asia.”

Mr.Kuni Kobayashi, the former owner of Optofocus and now president of Excel-Japan stated, “We are very excited to join the Excel Technology family.” He added, “Our goal is to capitalize on the local market opportunities and to offer customers complete support from applications development & custom solutions to sales and service support.” Dominic concluded, “We expect Excel-Japan will help us greatly in expanding our markets in Asia and Japan. In addition, our technology also should improve because of the opportunities, challenges and inputs we receive from our customers in Japan.”

This news release contained forward- looking statements, which are based on current expectations. Actual results could differ materially from those discussed or implied in the forward-looking statements as a result of various factors including future economic, competitive, regulatory, and market conditions, future business decisions, market acceptance of the company’s products, and those factors discussed in the company’s from 10-K for the year ending December 31,2001. In light of the significant uncertainties inherent in such forward-looking statements, they should not be regarded as a representation that the company’s objectives and plans will be achieved, and they should not be relied upon by investors when making an investment decision. Words such as “believes”, “anticipates”, “expects”, “intends”, “may”, and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Excel and its wholly owned subsidiaries develop, manufacture and market laser systems and electro-optical components for electronic, semiconductor, other industrial/commercial, scientific and medical applications.