Automotive Display Development: Laser Projection Technology for in-Vehicle Applications

    BOTHELL, Wash.--Jan. 22, 2003--Microvision, Inc. , a leader in light scanning technologies, today announced that it has signed two agreements for development of specific automotive display prototypes.
    The first is a contract with a major European automotive company to develop a prototype for a revolutionary driver's information display to be demonstrated in the spring of this year. The company has also recently entered into a prototype development contract with a major "tier one" automotive supplier for an instrument panel solution for demonstration to prospective customers in the current quarter.
    "Our work in the automotive arena has progressed significantly in the last six months or so, and is gaining momentum," said CEO Rick Rutkowski. "While we've been at this a relatively short time, we're encouraged at the reception of the systems we've built to date and gratified to now be working with two of Europe's leading automakers. We are now able to turn prototype systems and evaluate them for specific in-vehicle applications rapidly. We think a good model for us in the automotive segment is to partner with established automotive suppliers to provide fully integrated electronics solutions that feature our display technology. We've been able to translate pull from top ranked automakers into interest from potential systems partners, and we're pleased to be embarking on our first collaborative effort teamed with one of the world's leading automotive suppliers. We'll be looking to expand on this type of relationship and develop a more definitive product path as a next step in our strategy. We are delighted to have been selected for both of these projects and we are hopeful that the upcoming demonstrations will lead to additional development toward the ultimate goal of commercialization."
    Microvision's unique laser scanning projection system is being recognized as a potential platform technology for automotive applications because it can be configured - through the use of modular enclosures and or projection optics - to address potential requirements ranging from dash and center console instruments to head-up displays and rear-seat entertainment, and because the projection surface can be easily adapted to fit a particular vehicle's design and space requirements.
    Recently, Microvision announced the installation of a laser projection-based entertainment display in a BMW 7 Series sedan research car that was showcased at the World Congress on Intelligent Transport Systems in Chicago October 14-17, 2002 and at Convergence 2002 in Detroit October 21-23, 2002.
    Microvision recently hosted a conference call to discuss its automotive strategy and market opportunities. To access the call, please visit the company's web site at www.microvision.com.

    About Microvision

    The company, located on the web at www.microvision.com is headquartered in Bothell, Washington. Microvision Inc. is the developer of a 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.

    Forward Looking Statement

    Certain statements contained in this release, including the ability to develop prototype systems, expand business relationships, continue product development, commercialization and product applications, 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 our 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 obtain financing; 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 and ability to supply products in commercial quantities; the ability to achieve key technical milestones in key products; and other risk factors identified from time to time in our SEC reports, including in our Annual Report on 10-K for the year ended December 31, 2001 and our Quarterly Reports on Form 10-Q.