Microvision Continues Work on Next-Generation Automotive Displays with European Auto Maker

    BOTHELL, Wash.--May 1, 2002--Microvision , the leader in light-scanning technologies, today announced that, following the recent delivery of prototype systems to a leading European automobile manufacturer, it has been awarded a new contract to continue development of next-generation automotive display products based on Microvision's proprietary light-scanning technology.
    The companies have indicated that the focus of their development work will support Microvision's initiative to bring to market innovative concepts for in-vehicle displays that can provide benefits ranging from increased safety and improved fuel efficiency to information and entertainment. However, details concerning specific products to be developed were not released.
    Microvision's unique light-scanning display is based on proprietary technology that creates a high-resolution computer image by precisely scanning a single beam of laser light at very high speed.
    The company says its displays promise to deliver extremely bright, high-quality images to solve the challenge of delivering information to drivers and passengers in future automobiles where display size, power and cost are key factors.
    Small front- or rear-projection devices can be used to present information to drivers in selected locations such as rear-view mirrors, windshields or instrument clusters to support a full range of automotive information applications, including emerging "telematics" applications like GPS navigation, traffic advisories and internet-based information and entertainment services.
    "The interior of an automobile is a challenging environment that leads to a demanding set of specifications for displays," said Russell Hannigan, Microvision's Director of Business Development for advanced products. "Our technology is a perfect fit because automotive displays need to deliver very bright images in small, affordable packages that have a long lifetime and do not generate heat. Current display technologies that use expensive projection lamps aren't able to achieve most of these requirements. Microvision's use of bright, power-efficient laser light sources makes a key difference in this application."
    "This next phase of development is an important next step in this developing partnership," Hannigan added. "Both companies are committed to moving quickly to capitalize on the strength of our partnership to deliver what we feel will be the bench mark for information displays in tomorrow's automobiles. We hope to demonstrate some of the fruits of our labor before too long."

    About Microvision: www.mvis.com

    Headquartered in Bothell, WA, Microvision Inc. is the developer of the patented retinal scanning display technology and a world leader in micro miniature optical scanning technology for display and imaging applications. The company's technology has applications in a broad range of military, medical, industrial, professional and consumer information products. Nomad is a trademark of Microvision, Inc.

    About Lumera: www.mvis.com

    As a subsidiary of Microvision, Inc., Lumera is a world leader in the development of electro-optic devices based on proprietary optical polymers. The company plans to deliver superior and unique component solutions to optical systems suppliers. Lumera plans to supply standard and custom components to systems providers in multiple high-growth product categories.

    Forward-Looking Statements Disclaimer

    Certain statements contained in this release, including plans for product development, as well as statements containing words like "believe," "anticipate," "hope," "intend," "seek," "expect," and other similar expressions, 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 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; 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 in its Annual Report on 10-K for the year ended December 31, 2001, and its Quarterly Reports on Form 10-Q.