Lumera Corporation Announces Shareholder Approval of GigOptix Merger

  
    
  
  
    
      Lumera Corporation (NASDAQ: LMRA), announced today that its merger with 
      GigOptix LLC was approved by its stockholders at the annual meeting of 
      stockholders held this morning. The closing of the merger is expected to 
      occur on December 9 and the new combined entity will be called GigOptix, 
      Inc. All proxy proposals were voted in favor by at least 54 percent of 
      the total outstanding shares of Lumera’s common stock.
    
    
      “Today we closed a chapter on Lumera as a separate company and began a 
      new one as part of a larger entity, GigOptix, Inc.,” said Dr. Joseph 
      Vallner, Interim CEO of Lumera, and Board Member of GigOptix, Inc. “We 
      are pleased that the shareholders of Lumera have recognized the benefits 
      of combining the two companies to create greater shareholder value in 
      the coming years.”
    
    
      Dr. Avi Katz, CEO and Chairman of the Board of Directors of the new 
      GigOptix, Inc., commented, “We are overwhelmed by the Lumera 
      shareholders’ vote, proud of this support, and are committed to keep an 
      open and transparent relationship with the shareholders as we build the 
      company. Lumera’s advanced polymer modulators combined with GigOptix’ 
      high speed drivers and receivers will provide highly differentiated 
      products addressing the key challenges that face the industry today. 
      With the help of an international commercial network built by GigOptix 
      LLC, the combined company can become a dominant force in the optical 
      communication component business.”
    
    
      Upon closing, each issued and outstanding share of Lumera common stock 
      will be converted into 0.125 shares of the common stock of the surviving 
      company GigOptix, Inc. The shares of GigOptix, Inc. will begin trading 
      on December 10 on the OTC Bulletin Board, which is not a national 
      securities exchange. A press release will be issued when a trading 
      symbol has been assigned by the OTCBB.
    
    
      About Lumera
    
    
      Lumera is a leader in photonic communications. The company designs 
      electro-optic components based on proprietary polymer compounds for the 
      telecommunications and computing industries. For more information, 
      please visit www.lumera.com.
    
    
      About GigOptix
    
    
      GigOptix LLC is a leading fab-less semiconductor company specializing in 
      the specification, design, development and sale of integrated circuits 
      and electronic multi-chip module solutions. For more information, please 
      visit www.gigoptix.com.
    
    
      This communication shall not constitute an offer to sell or the 
      solicitation of an offer to sell or the solicitation of an offer to buy 
      any securities, nor shall there be any sale of securities in any 
      jurisdiction in which such offer, solicitation or sale would be unlawful 
      prior to registration or qualification under the securities laws of any 
      such jurisdiction. No offer of securities shall be made except by means 
      of a prospectus meeting the requirements of Section 10 of the Securities 
      Act of 1933, as amended.
    
    
      Forward-Looking Statements
    
    
      Certain statements in this document may contain forward-looking 
      information regarding Lumera and the combined company after the 
      completion of the transactions that are intended to be covered by the 
      safe harbor for "forward-looking statements" provided by the Private 
      Securities Litigation Reform Act of 1995. These statements include, but 
      are not limited to, the benefits of the business combination transaction 
      involving Lumera and GigOptix, LLC including future financial and 
      operating results, the combined company's plans, objectives, 
      expectations and intentions and other statements that are not historical 
      facts. Such statements are based upon the current beliefs and 
      expectations of the management of Lumera and GigOptix, LLC and are 
      subject to significant risks and uncertainties. Actual results may 
      differ from those set forth in the forward-looking statements. You 
      should not place undue reliance on forward-looking statements, which 
      speak only as of the date of this document. Except for any obligation to 
      disclose material information under the Federal securities laws, Lumera 
      undertakes no obligation to release publicly any revisions to any 
      forward-looking statements to reflect events or circumstances after the 
      date of this document.