AXSUN: Press Release - 2005 PITTCON Symposium

NEWS : PRESS RELEASE

Axsun Technologies Signs Technology Agreement with a GE Business Unit

BILLERICA, Massachusetts (January 18, 2005) – Axsun Technologies, Inc., a leading manufacturer of micro-optoelectronic products that improve quality, performance, and productivity in a variety of industries, today announced that it has signed an agreement with a unit of General Electric (NYSE: GE) to help develop a new type of rugged handheld device.

“We are now the world’s leading supplier of optical channel monitors to the telecom market, and have made great strides with our near-infrared spectroscopy products,” said Jack Kay, president and chief executive officer of Axsun. “Rugged, reliable, and consistent, these instruments deliver high performance in the harshest on-line process environments. Applying our advanced micro-optics and micro-instrumentation technologies, we will work with our customers at GE to develop an entirely new class of easy-to-use handheld spectroscopic devices to tackle the toughest application challenges.”

Financial details of the agreement were not disclosed.

About Axsun Technologies
Axsun Technologies, Inc., established in 1999, develops and manufactures advanced components and photonic subsystems used in test and measurement applications, and throughout the world's communication networks. Axsun has applied its expertise in micro-optics and precision engineering to pioneer an entirely new class of fully functional, miniaturized spectroscopic instruments and devices that enable dramatic improvements in quality, productivity, and performance across a variety of industries - from pharmaceutical manufacturing, high-speed industrial process control, and chemical/petrochemical processing, to medical diagnostics, forensics, and scientific discovery.