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To: Rick Buskey who wrote (27789)	6/16/2000 8:36:00 AM
From: Paullie	Read Replies (1) \| Respond to of 57584

Friday June 16, 8:02 am Eastern Time Company Press Release SOURCE: LightPath Technologies, Inc. LightPath Technologies, Inc. Announces Successful Completion of Class B Warrant Redemption ALBUQUERQUE, N.M., June 16 /PRNewswire/ -- LightPath Technologies, Inc. (Nasdaq: LPTHA - news) announced today that it has successfully completed the call for redemption of the Company's outstanding publicly traded Class B warrants. The last day for exercise of the Class B warrants was June 13, 2000. Approximately 99% of the Company's remaining 2.65 million outstanding Class B warrants were exercised by warrant holders, providing net proceeds of approximately $22 million to the Company. Donald E. Lawson, President and CEO of LightPath Technologies, Inc. stated, ``The completion of this significant milestone provides additional strength to our balance sheet and enhances our financing flexibility. We will leverage this to continue our production capability expansion for existing optical component products based on our automated manufacturing process and to accelerate our investment in various optical switch programs and other optical component opportunities.'' The Company also reported that following the completion of the warrant call it had approximately 18.1 million shares of its Class A common stock outstanding and over $57 million in cash. LightPath manufactures its proprietary collimator assemblies, GRADIUM© glass products and other optical telecommunications products at its headquarters in Albuquerque. The Company's subsidiary, Horizon Photonics, manufactures isolator products utilizing its proprietary automation technology in Walnut, California. LightPath also has an office in Warren, New Jersey for the purpose of developing various optical switch products. The Company has 22 U.S. patents, plus 4 more pending, associated with its optical technologies. In addition, various foreign countries had issued a total of 8 patents with 9 patents pending. LightPath common stock trades on the Nasdaq SmallCap Market under the stock symbol LPTHA. Contact: Donald E. Lawson, President & CEO LightPath Technologies, Inc. (505) 342-1100 Internet: www.light.net 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.