eMagin Plans Move to OTC Bulletin Board

  
    
  
  
    
      eMagin Corporation has received notice from the American Stock Exchange 
      (AMEX) that the company’s common stock will be 
      de-listed on March 12, 2007. At the same time, the microdisplay company 
      indicated that it is on track for its third consecutive quarter of 
      triple-digit revenue growth and a projected 118% gain in revenues in its 
      last fiscal year.
    
    
      “The AMEX decision is based on the current 
      value of our shareholders’ equity rather than 
      eMagin’s prospects or current revenue results,” 
      said K.C. Park, Interim CEO and president, eMagin Corporation. “With 
      market makers already in place on the Over the Counter Bulletin Board, 
      we hope to make the move quickly.” Park also 
      noted that eMagin is continuing its efforts to strengthen its prospects 
      through financing, a strategic partnership, or merger and acquisition.
    
    
      “Even as this action occurs, we are projecting 
      our third consecutive quarter of record revenues,” 
      said Park. In January, the company projected first quarter revenue of 
      approximately $3.5 million, marking its seventh consecutive quarter of 
      revenue growth and an increase of over 110% from the first quarter of 
      2006. Preliminary revenue results for 2006 project to roughly $8.2 
      million, an increase 118% increase over the $3.7 million reported in 
      2005.
    
    
      Specifically, the AMEX cited the company’s 
      inability to maintain compliance with certain conditions of the AMEX’s 
      continued listing standards. Following eMagin’s 
      submission of a plan of compliance on November 6, 2006, and a hearing 
      before the Listing Qualifications Panel of the AMEX Committee on 
      Securities in February, the AMEX determined that the company does not 
      comply with Sections 1003(a)(ii) and 1003 (a)(iii) of its Company Guide.
    
    
      About eMagin Corporation
    
    
      A leader in OLED microdisplay technology, eMagin integrates 
      high-resolution OLED microdisplays with magnifying optics to deliver 
      virtual images comparable to large-screen computer and television 
      displays in portable, low-power, lightweight personal displays. eMagin 
      microdisplays provide near-eye imagery in a variety of products from 
      military, industrial, medical and consumer OEMs. The company's own Z800 
      3DVisor provides 3D stereovision and headtracking for PC gaming, 
      training and simulation, immersion therapy, and other applications. 
      eMagin's microdisplay manufacturing and R&D operations are co-located 
      with IBM on its campus in East Fishkill, N.Y. System design facilities 
      and sales and marketing are located in Bellevue, Wash. A sales office is 
      also located in Japan.
    
    
      Forward Looking Statements
    
    
      Statements in this press release which are not historical data are 
      forward-looking statements which involve known and unknown risks, 
      uncertainties or other factors not under the company's control, which 
      may cause actual results, performance or achievements of the company to 
      be materially different from the results, performance or other 
      expectations implied by these forward-looking statements. These factors 
      include, but are not limited to, those detailed in the company's 
      periodic filings with the Securities and Exchange Commission. We 
      undertake no duty to update any of the forward-looking statements, 
      whether as a result of new information, future events or otherwise.