7th November 2006. Modulight, Inc., Tampere, Finland and San Jose, CA, is pleased to announce today receiving of the Frost & Sullivan’s 2006 Product Innovation Award for its innovative approaches and remarkable efforts to develop high- power laser diodes.

According to Frost & Sullivan, the Product Innovation Award “recognizes the company’s successful adoption or invention of new technology that has become a part of a well-designed product family. This award also recognizes the company’s successful product development strategies and the degree the product has met customer stated needs and requirements. Such innovation is expected to significantly contribute to the industry in terms of market acceptance.”

“The selection process included primary participant interviews and/or interviews with end users, distributors, suppliers as well as extensive primary and secondary research via the bottom-up approach. Companies’ products were analyzed based on the degree of innovation, the estimated market penetration rate, and the acceptance of the product by intended end users. Industry participants were ranked and the top performing company was chosen for the award.”

“We are very honoured to receive this recognition from a top-tier market profiler like Frost & Sullivan. This award is a clear sign that Modulight has gained in the last year more recognition as an important player in the high-power lasers market. It is a confirmation of the successful strategy changes we pursued over the last two years”, says Dr. Petteri Uusimaa, President & CEO of Modulight.

Please visit also here for Dr. Uusimaa’s Movers & Shakers interview wired on www.frost.com.

About Modulight, Inc.
Modulight provides value-adding solutions to optical applications in industrial, communication, medical, space and defense industries. Products include various types of semiconductor laser diodes from visible to Infrared (IR) wavelengths with output power levels from milliwatts to over hundred watts. Modulight delivers its customers bare dies, unmounted laser bars, packaged devices and related consulting services. Modulight owns and operates a semiconductor fab in Tampere, Finland and has fully owned subsidiary Modulight USA located in San Jose, California.

About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

Modulight, Inc.                        
Anca Guina
Manager, Resource Allocation and Product Promotion
marketing@modulight.com