NanoOpto Appoints Andrew Savadelis as Chief Financial Officer; NanoOpto Expands Executive Team to Support Next Stage of Company Growth

SOMERSET, N.J.--(BUSINESS WIRE)--July 27, 2005--NanoOpto Corporation, who is applying novel design methods and proprietary nano-fabrication technology to produce a broad range of unique optical components that enable higher quality, low-cost optical components and systems, today announced that Andrew Savadelis has joined the company as its Chief Financial Officer.

Savadelis brings over 25 years of experience in Finance, Operations, Planning, and Sales to NanoOpto. Prior to joining NanoOpto, Savadelis was CFO, SVP Finance, and Board Member at Alfacell Corporation, where he was responsible for closing the single largest financing in the company's history. Previously, Savadelis has held executive positions as CFO and SVP Finance at Orchid BioSciences Inc.; Principal at Stratus Photonics; CFO and EVP Finance at eMagin Corporation; Treasurer and Director M&A and Director Investor Relations at Anadigics; and Manager Corporate Treasury at Bristol-Myers Squibb Company. Savadelis holds a B.S. in Biology from Albright College and an MBA from Cornell University.

“NanoOpto is excited to have an executive of Andrew's caliber and experience joining its team”

"NanoOpto is excited to have an executive of Andrew's caliber and experience joining its team," said Barry Weinbaum, President and CEO of NanoOpto. "He will play a critical role as we continue to grow NanoOpto, simultaneously expanding our customer base and making the infrastructure investments to support our ability to deliver products in volume."

About NanoOpto Corporation

NanoOpto Corporation is applying proprietary nano-fabrication technology to the rapid design and high-volume manufacture of nano-optic devices for optical components and systems for consumer electronics, commercial, and communications applications. The company's nano-meter scale optical function design capability combined with wafer-scale manufacturing methods delivers optical components that allow more rapid prototyping, higher performance, and lower overall system cost. Both independently and with industry partners, NanoOpto uses its technology to produce superior versions of standard optical components and new classes of integrated optical subassemblies for both custom and general applications. The company has received financial backing from leading venture capitalists and is based in Somerset, New Jersey. For additional information about NanoOpto, visit www.NanoOpto.com.

Contacts

Interprose PR
Amy Foschetti, 704-849-0433
amy_foschetti@interprosepr.com

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