Woburn, Mass. - May 7, 2008 - Magnolia Optical Technologies, Inc. announced today that it is part of the Kopin Corporation team that has been selected for the award of a solar cell development contract from NASA. The Phase II STTR program will develop indium nitride (InN)-based quantum dot solar cell technology.

"The goal of this STTR program is to develop high-efficiency solar cells that are resistant to extreme conditions while achieving high solar electric power conversion efficiency," said Dr. Roger Welser, Kopin´s Director of Technology and New Product Development. "The advanced solar cell structure incorporating InN-based nanostructures can harness a very large fraction of the solar spectrum while minimizing the effects of high temperatures and high-energy radiation. This technology will enable photovoltaic power systems of future NASA space exploration missions."

Dr. Ashok Sood, President of Magnolia stated that "We are pleased to be part of the Kopin led team and look forward to supporting the NASA Program. Magnolia has collaborated with Kopin on previous GaN based efforts. This work will add to Magnolia´s considerable expertise in design and development of high efficiency solar cells. We look forward to future program pursuits in collaboration with Dr. Roger Welser."

About Magnolia Optical Technologies, Inc.

Magnolia specializes in developing innovative optical technologies for defense and commercial applications. Based in Woburn, MA, Magnolia has expertise in thin film and nanostructure based technologies that cover the ultraviolet, visible, and infrared part of the spectrum. These technologies are exploited for use in advanced military sensors and other commercial applications including solar cells.

Contact:

Magnolia Optical Technologies, Inc. Dr. Yash R. Puri, 781-503-1200 x101 Executive Vice-President yrpuri@magnoliaoptical.com

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