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Updated: July 8th, 2008 05:26 PM CDT

Laser Energetics Wins Contract With Major Defense Contractor

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via PRNewswire

PRINCETON, N.J., Jan. 14 /PRNewswire-FirstCall/ -- Laser Energetics, Inc. (Pink Sheets: LNGT) announced today that the Company has received a contract worth $481,268 from ITT Corporation (NYSE: ITT) for a laser demonstration of an all solid state frequency tripled Alexandrite laser using the LEI proprietary BrightStar(TM) technology. This contract is in support of the U.S. Army's initiative to develop an all solid-state laser for the next generation of chemical warfare agent sensor currently being developed by ITT.

The contract follows the Army's selection of Laser Energetics' BrightStar(TM) as the laser technology of choice for this remote sensing of chemical warfare agents. The technology was selected by a government panel following the panel's evaluation of 20 different competing laser technologies from 18 laser companies. The panel's evaluation and decision was made in part by Laser Energetics' report on this all solid-state Alexandrite laser and the technical advantages of this tunable laser technology over other lasers.

About Laser Energetics, Inc.:

LEI has and continues to develop a comprehensive and strategic laser product line that addresses applications in Industry, Science, Medicine and the Military. The Company has had a primary focus on its Alexandrite laser technology. These tunable solid state lasers are unique in that they can be conductively air cooled to compete favorably against water cooled lasers in many applications. In addition, these lasers have one of the greatest wavelength tuning ranges with a bandwidth of over 250nm. The company is pursuing markets that are diverse yet can use the same laser with their compact user friendly design. This laser technology provides a sustainable advantage over many other lasers because of their tune-ability, conductively air cooled operation, and their efficiency.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

SOURCE Laser Energetics, Inc.


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