LMMS is a strategic business unit of Lockheed Martin Corporation. The Emcore/LMMS agreement will commence upon the start of the LMMS/Sandia CRADA, now planned for early October 1998. LMMS will grant Emcore a sub-license for all CRADA related intellectual property developed on behalf of and in conjunction with LMMS. Additionally, as part of this strategic agreement, Emcore and LMMS will jointly qualify and validate the high efficiency solar cells for operational satellite use.

"The new compound semiconductor based solar cell will bring technical efficiencies and economic advantages for next generation satellite systems," said Leonard F. Kwiatkowski, Vice President of LMMS' Missiles and Space Products Center.

"This strategic agreement represents a vote of confidence for our advanced compound semiconductor technology and manufacturing processes," said Reuben Richards, President and CEO of Emcore. "This agreement positions Emcore as the preferred compound high efficiency solar cell provider for our current and future solar cell customers. We are pleased to partner with Lockheed Martin, a recognized industry leader, and we are confident that our high efficiency solar cell designs will make an important contribution to the continued advancement of the satellite communications industry."

Emcore Corporation is the leading provider of integrated compound semiconductor solutions and the world's largest supplier of compound semiconductor epitaxy wafers. Manufacturers throughout the world use Emcore's MOCVD production systems and processes as the enabling technology behind a variety of advanced photonic and electronic applications. Recently, the Company's headquarters in Somerset, NJ attained ISO 9001 certification and its Pegasus MR manufacturing division attained ISO 9002 + QS 9000 certification.