Tampere, May 31st, 2004 - Modulight, Inc. (Tampere, Finland) and Vaisala (Vantaa, Finland) announced today that companies have entered into an exclusive multi-year agreement for development and supply of specialized laser diodes for Vaisala's new products for meteorological applications.

Under the exclusive contract Modulight will utilize its existing technology and provide Vaisala laser diodes that will enable Vaisala to apply new technology and reinforce competitiveness.

"This agreement gives us new opportunities in environmental measurements and helps to provide unparalleled quality products to our customers", says Mr. Hannu Tuominen, Division Director, Vaisala Solutions.

"We are very interested to continue and expand our relation with Vaisala. Vaisala's projects allow us to provide customer genuine added value and thus also simultaneously increase our long-term business potential", says Dr. Petteri Uusimaa, President & CEO, Modulight, Inc.

About Vaisala Group
Vaisala develops, manufactures and markets products and services for environmental and industrial measurement. Vaisala's markets are global. The goal is to provide basis for better quality of life, environmental protection, safety, efficiency and cost savings.
The major customer groups are national meteorological services, aviation authorities, defense forces, road and rail authorities, land and water resource management agencies, research institutes, insurance companies, public utilities and industry worldwide.

About Modulight, Inc.
Modulight Designs, Manufactures and Markets semiconductor laser products for datacommunication, CATV, telecommunication, space, medical, military and industrial applications.
Modulight products include: 1310/1490/1550 nm FP and DFB laser diodes up to 10Gb/s speed in bare die / chip, TO-CAN, TOSA and fiber pigtailed form. The Company also supplies customized lasers for a variety of applications including range finding, space communication, materials processing and medical.
Modulight's critical success factors are: Agility, Profitability, Reliability and Customer Focus.

For further information, please contact:
Modulight, Inc.:
Mr. Seppo Orsila
Vice President
Phone: +358 20 743 9000
Fax: + 358 20 743 9009
Email: sales@modulight.com
http://www.modulight.com

Vaisala Group
Hannu Tuominen
Director, Vaisala Solutions
Phone: + 358 9 894 91
Fax: + 358 9 8949 2568
hannu.tuominen@vaisala.com
http://www.vaisala.com