Lumera Corporation Sets Record Date and Shareholder Meeting

  
    
  
  
    
      Lumera Corporation (NASDAQ:LMRA), a leader in the field of photonic 
      communications, announced today that its Board of Directors has set 
      October 10, 2008 as the record date for its Annual Meeting of 
      Stockholders, which has been set for December 4, 2008, to vote on the 
      proposed merger with GigOptix, LLC. Lumera expects that the combined 
      proxy statement of Lumera and registration statement of GigOptix Inc. on 
      Form S-4 will be declared effective on or about October 27, 2008, and 
      that mailing will commence shortly thereafter.
    
    
      Lumera Corporation stockholders as of the record date will be provided 
      proxy materials prior to the meeting and will be entitled to attend and 
      vote at the meeting. The meeting will be held at the Country Inn & 
      Suites in Bothell, Washington at 11:00 AM (PST). If the shareholders 
      approve the merger at the meeting, the merger will close shortly 
      thereafter.
    
    
      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.
    
    
      Certain statements contained in this release are forward-looking 
      statements that involve a number of risks and uncertainties. Factors 
      that could cause actual results to differ materially from those 
      projected in the company's forward-looking statements include the 
      following: market acceptance of our technologies and products; our 
      ability to obtain financing; our financial and technical resources 
      relative to those of our competitors; our ability to keep up with rapid 
      technological change; government regulation of our technologies; our 
      ability to enforce our intellectual property rights and protect our 
      proprietary technologies; the ability to obtain additional contract 
      awards and to develop partnership opportunities; the timing of 
      commercial product launches; the ability to achieve key technical 
      milestones in key products; and other risk factors identified from time 
      to time in the company's SEC reports, including its Annual Report on 
      Form 10-K, and its Quarterly Reports on Form 10-Q.
    
    
      Lumera will file with the SEC a registration statement on Form S-4, 
      which will contain a proxy statement/prospectus regarding the proposed 
      merger transaction, as well as other relevant documents concerning the 
      transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE 
      REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS AND THESE OTHER 
      DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN 
      IMPORTANT INFORMATION ABOUT GigOptix, Inc., LUMERA, GIGOPTIX LLC AND THE 
      PROPOSED TRANSACTION. A definitive proxy statement/prospectus will be 
      sent to Lumera’s stockholders seeking their 
      approval of Lumera’s issuance of shares in the 
      transaction and to members of GigOptix LLC. Investors and security 
      holders may obtain a free copy of the registration statement and proxy 
      statement/prospectus (when available) and other documents filed by 
      Lumera with the SEC at the SEC’s web site at www.sec.gov. 
      Free copies of Lumera’s SEC filings are 
      available on Lumera’s web site at www.lumera.com 
      and also may be obtained without charge by directing a request to Lumera 
      Corporation, 19910 North Creek Parkway, Bothell, WA 98011-3008, 
      Attention: Investor Relations or by telephoning us at 425-398-6546.
    
    
      Lumera and its directors and executive officers may be deemed, under SEC 
      rules, to be participants in the solicitation of proxies from Lumera’s 
      stockholders with respect to the proposed transaction. Information 
      regarding Lumera’s directors and executive 
      officers is included in its annual report on Form 10-K filed with the 
      SEC on March 17, 2008, as amended by Form 10-K/A filed with the SEC on 
      March 27, 2008. More detailed information regarding the identity of 
      potential participants and their direct or indirect interests in the 
      transaction, by securities holdings or otherwise, will be set forth in 
      the registration statement and proxy statement/prospectus and other 
      documents to be filed with the SEC in connection with the proposed 
      transaction.
    
    
      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.