Tampere, June 18th, 2004 - Modulight, Inc. (Finland) and Contraves Space (Switzerland) announced today that companies have entered into an agreement on delivery of fiber pigtailed laser diodes to European Space Agency (ESA) - for the Soil Moisture and Ocean Salinity (SMOS) satellite mission. Modulight lasers will be essential part of the optical harness of the MIRAS instrument in the satellite. The MIRAS Optical Harness (MOHA) is designed and manufactured by Contraves Space.

The lasers will constitute a key part of the information delivery system that will be used for cross-correlation of the 72 radiometers that jointly form a very high sensitivity virtual antenna. The SMOS satellite will be used for global observations of key variables of Earth climate and environment systems and is the first of its kind in the world.

"We are very excited about the collaboration with Contraves Space. The opportunity to deliver the first telecommunication laser diodes to space application very well demonstrates the level of performance and reliability that our products offer to our customers", says Dr. Petteri Uusimaa, President & CEO, Modulight, Inc.

Dr. Peter Mueller, Project Manager at Contraves Space adds: "Working with Modulight gives us the unique opportunity to have direct access to their engineering and manufacturing team. This is essential to make commercial components timely and cost effectively fit for space."

About Contraves Space, a Unaxis Company
Contraves Space AG, based in Zurich, Switzerland, is the largest Swiss space company and a division of the Unaxis Group. Contraves Space is a world leader in payload fairings for launch vehicles. Core competencies cover also the development of high-precision mechanisms for spacecraft, scientific instruments for space research and optical terminals for data transmission between satellites. A staff of 330 employees generates yearly revenues of CHF 120 million.
Unaxis' commercial activities are conducted via its five Segments: Semiconductor Equipment; Data Storage Solutions; Coating Services; Vacuum Solutions; and Components and Special Systems. Unaxis currently employs approximately 6,500 individuals and, in its 2003 financial year, achieved sales of CHF 1.610 billion. The company, headquartered in Pfäffikon SZ, Switzerland, has a globe-spanning infrastructure that encompasses centers of competency for research, development and production in Europe, Asia and the USA, as well as 81 subsidiaries in 25 countries.

About Modulight, Inc.
Modulight Designs, Manufactures and Markets semiconductor laser products for datacommunication, CATV, telecommunication, space, medical, defense 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.:
Dr. Petteri Uusimaa
President & CEO
Phone: +358 20 743 9000
Fax: + 358 20 743 9009
Email: sales@modulight.com
http://www.modulight.com

Contraves Space AG
Dr. Peter Mueller
Project Manager
Phone: +41 1 306 2211
Fax: + 358 9 8949 2568
Email: peter.mueller@unaxis.com
http://www.contravesspace.com