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To: Due Diligence who wrote (614)	3/31/1999 11:42:00 PM
From: HandsOn	Respond to of 639

Put SIRN on Your watchlist Tomorrow.

To: Due Diligence who wrote (614)	4/2/1999 7:46:00 AM
From: GERBER	Respond to of 639

LUMM Another Most Big news is expected for next week IMO PRESS RELEASE : biz.yahoo.com Thursday April 1, 10:04 am Eastern Time Company Press Release Lumenon Announces Private Placement DORVAL, Quebec--(BUSINESS WIRE)--April 1, 1999-- LUMENON (OTC BB:LUMM - news) Lumenon Innovative Lightwave Technology, Inc. is pleased to announce that it has reached an agreement in principal for a private placement of 6,000,000 units for gross proceeds of US$3,000,000. Each unit is comprised of one common share and one share purchase warrant entitling the holder to acquire one additional common share at a price of US$0.90 for a period of 30 months. The letter of intent was signed by two Canadian investment companies: Business Development Bank of Canada (BDC), and Innovatech Grand Montreal (IGM). The transaction is expected to be closed by the end of May 1999. The proceeds from this financing will be used to complete construction of the Company's Pilot Plant at its Dorval facility and to bring Lumenon's products to the photonics market. BDC and IGM will each nominate one member to Lumenon's board of directors. Lumenon's board presently consists of S. Iraj Najafi, Mark P. Andrews and Nasser Peyghambarian. Claude Forget is no longer a board member of Lumenon. Lumenon's board will be expanded to seven members to reflect Lumenon's strategy to position itself in photonic chip technology. Lumenon designs, develops and builds integrated optics devices in the form of compact hybrid glass circuits on silicon chips. Its platform technology is currently focused on the lucrative DWDM market. Lumenon's shares are listed under the symbol LUMM (OTC BB). For more information on Lumenon contact: Stephen Litwin, Investor Relations, Tel. 514/631-0023, Fax: 514/631-0053. More information on Lumenon is available at lumenon.com. This press release contains certain ''forward-looking'' statements, as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction. No regulatory authority has approved nor disapproved the content of this release. Contact: Lumenon Innovative Lightwave Technology, Inc. Iraj Najafi, 514/918-3404