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To: HG who wrote (18181)	1/7/2000 7:54:00 AM
From: Rande Is	Respond to of 57584

[LPTHW] LightPath Technologies, Inc. Calls For Redemption of Its Class A Warrants ALBUQUERQUE, N.M., Jan. 7 /PRNewswire/ -- LightPath Technologies, Inc. (Nasdaq: LPTHA) announced today that the Company intends to exercise its right to call for redemption of its outstanding class A warrants. The date of the class A warrant call will be Tuesday, January 11, 2000. Letters of instruction will be mailed to all holders of class A warrants on that day. Each class A warrant is exercisable at $6.50 per warrant prior to 5:00 p.m. (Eastern Standard Time), on February 9, 2000. If a class A warrant is exercised, the holder will receive one share of LightPath Technologies, Inc. common stock (LPTHA) and one share of LightPath Technologies, Inc. class B warrant (LPTHZ). After 5:00 p.m. on February 9, 2000, the class A warrants will no longer be exercisable, and holders will have the right to receive only the redemption price of $.05 per warrant. Donald E. Lawson, President and CEO of LightPath Technologies, Inc., commented, "the potential proceeds of $16.4 million from this class A warrant conversion will provide the Company with the financing flexibility to expand production capability for existing products and to accelerate our investment in various optical switch programs." The Company's Underwriter from its Initial Public Offering, D. H. Blair Investment Banking Corp., a New York corporation, is managing the class A warrant conversion. Questions and requests for assistance in connection with the warrant redemption should be directed to the following Company representative: Donna Bogue, VP Finance LightPath Technologies, Inc., (505) 342-1100 -- Telephone (505) 342-1111 -- Fax Email -- dbogue@light.net LightPath manufactures optical products for the telecommunications component industry at its headquarters in Albuquerque. The Company has 18 U.S. patents, plus 8 more pending, associated with its optical technologies. In addition, various foreign countries had issued a total of 7 patents with 10 patents pending. LightPath common stock trades on the Nasdaq SmallCap Market under the stock symbol LPTHA. This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. SOURCE LightPath Technologies, Inc.