LightPath Technologies Provides Quarterly Update on Infrared Initiatives

   LightPath Technologies Provides Quarterly Update on Infrared Initiatives

LightPath Receives Orders to Provide Qualification Prototypes from Three OEMs
for Thermal Imaging Systems

Raytheon Vision Systems Development Project Remains on Schedule

PR Newswire

ORLANDO, Fla., Oct. 31, 2012

ORLANDO, Fla., Oct. 31, 2012 /PRNewswire/ -- LightPath Technologies, Inc.
(NASDAQ: LPTH) ("LightPath", the "Company" or "we"), a global manufacturer,
distributor and integrator of patented optical components and high-level
assemblies, today provided an update to shareholders on its progress with its
infrared lens initiatives. 

(Logo: http://photos.prnewswire.com/prnh/20120202/FL45310LOGO )

LightPath continues to develop its thermal imaging business and is currently
in the later stages of upgrading manufacturing capabilities at its Orlando
factory to support the anticipated growth in its thermal infrared product
lines. Sales and technical teams have been in contact with many large OEMs who
purchase infrared optics in this space and LightPath has received initial
orders from three such OEMs for prototypes of optical assemblies for their
respective thermal imaging systems. LightPath's optics provide significant
material cost advantages for its customers through the use of chalcogenide
glass compared to the materials that are currently in use today for such
systems. LightPath continues to see significant growth opportunities for this
business and expects significant orders from these and other customers in the
second half of fiscal 2013.

In addition, the infrared development program with Raytheon Vision Systems
continues to progress and work is now shifting from producing initial
prototypes to developing the necessary production-scale cost reductions to
meet the program's cost and performance goals. With a substantial portion of
the investment phase now completed, core manufacturing techniques and
resources are now in place with significant improvements having been made in
the protective coatings for the lenses. As the cost reductions are developed
from this work, they are being implemented into LightPath's proprietary
process.

Jim Gaynor, President and Chief Executive Officer of LightPath, commented, "We
are excited by the growing acceptance of the infrared products we offer as we
continue to successfully penetrate this $150 million addressable market
serving a diverse customer base. In particular, we see our infrared business
being driven by demand for our quantum cascade laser lenses, with interest
from customers in various subsectors, such as infrared countermeasures, gas
analysis and spectroscopy."

About LightPath Technologies

LightPath manufactures optical products including precision molded aspheric
optics, GRADIUMĀ® glass products, proprietary collimator assemblies, laser
components utilizing proprietary automation technology, higher-level
assemblies and packing solutions. The Company's products are used in various
markets, including industrial, medical, defense, test and measurement and
telecommunications. LightPath has a strong patent portfolio that has been
granted or licensed to it in these fields. For more information visit
www.lightpath.com.

Forward-Looking Statements

This news release includes statements that constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including statements regarding our
ability to expand our presence in certain markets, future sales growth,
continuing reductions in cash usage and implementation of new distribution
channels. This information may involve risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to, factors detailed by LightPath Technologies,
Inc. in its public filings with the Securities and Exchange Commission. Except
as required under the federal securities laws and the rules and regulations of
the Securities and Exchange Commission, we do not have any intention or
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.

Contacts:
Jim Gaynor, President & CEO   Dorothy Cipolla, CFO
LightPath Technologies, Inc.  LightPath Technologies, Inc.
Tel: 407-382-4003             Tel: 407-382-4003 x305
Email: jgaynor@lightpath.com Email: dcipolla@lightpath.com
Web: www.lightpath.com       Web: www.lightpath.com
Brett Maas, Managing Partner
Hayden IR
Tel: 646-536-7331
Email: Brett@haydenir.com
Web: www.haydenir.com

SOURCE LightPath Technologies, Inc.

Website: http://www.lightpath.com