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  For Immediate Release:

Contact:
Jim Lewis
978-262-0049

DR. NICHOLAS P. ECONOMOU JOINS AXSUN TECHNOLOGIES AS CHIEF OPERATING OFFICER

Billerica, MA, August 14, 2000 — AXSUN Technologies Inc., a manufacturer of Agile Photonic Subsystems has announced that Dr. Nicholas P. Economou has joined the company as Chief Operating Officer. Dr. Economou will have overall management responsibility for AXSUN's engineering and manufacturing activities, as the company completes a steep manufacturing ramp in the fourth quarter of 2000.

Prior to joining AXSUN, Dr. Economou was chief operating officer of FEI Company (NASDAQ: FEIC), a manufacturer of production and analytical equipment for the semiconductor and data storage industries. Previously, he was chairman, president and chief executive officer of Micrion Corporation, which merged with FEI in August of 1999. Dr. Economou spent a total of 16 years at Micrion, seeing the company through an initial public offering in May of 1994. He also held management and research positions at M.I.T. Lincoln Laboratory and Bell Labs.

"We are thrilled to have Nick on board to oversee the completion of AXSUN's manufacturing expansion stage," stated Dr. Dale Flanders, President and CEO of AXSUN. "His operational experience and management skills will be an invaluable asset to AXSUN as we make the transition to an industry leading manufacturer of optical subsystems."

"I'm very excited about joining AXSUN." said Dr. Economou, "It's a company on the cusp of achieving great things, and my role as Chief Operating Officer gives me the opportunity to make a significant contribution to AXSUN's success."


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  About AXSUN Technologies
AXSUN Technologies, established in 1998 develops and manufactures a new class of photonic subsystems that provide higher levels of performance to telecommunications equipment manufacturers. The company's agile optical products are central to the transformation of the Wavelength Division Multiplexing (WDM) infrastructure from an inflexible, constrained network to one that is agile and programmable at the optical layer. Information about AXSUN is available at www.axsun.com.
 
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