EMCORE AND CORONA OPTICAL SYSTEMS SIGN CROSS LICENSING AGREEMENT

SOMERSET, NJ and Lombard, IL - January 28, 2004 - EMCORE Corp. and Corona Optical Systems, Inc. today announced a cross licensing agreement for parallel optical transmitters and receivers.  The agreement provides EMCORE an exclusive license to manufacture and sell OptoCube(tm) 40 parallel optical transmitter and receiver modules.  In return, Corona has obtained a license to manufacture and sell EMCORE's Model 9512 twelve-channel parallel optical receiver and transmitter modules.

Corona's OptoCube(tm) 40 transmitter and receiver modules provide full electrical-to-optical conversion in a compact 13mm x 13mm package.  Each module features 12 optical channels operating at speeds up to 3.35 gigabit-per-second, per channel (Gb/s/ch), resulting in an aggregate throughput of over 40 Gb/s.  With its low, compact profile, OptoCube(tm) 40 provides more gigabit per square centimeter throughput than any other module currently available. The small size allows system designers to develop smaller, more efficient systems.  The devices support standard surface-mount (SMT) manufacturing processes and are offered in pick-and-place compatible trays.  The OptoCube(tm) 40 modules have a reach of 300m over standard bandwidth multimode fiber at maximum speeds of 3.35 Gb/s/ch.

EMCORE's 9512 transmitter and receiver modules also provide an aggregate throughput up to 40 Gb/s over 300m with full SNAP12 MSA compatibility. EMCORE's high-speed 9512 transmitter and receiver modules also support conventional DC JTAG boundary scan per IEEE 1149.1, and the IEEE P1149.6 AC-coupled JTAG boundary scan.

The primary applications for these modules are distributed optical back planes, arrayed serial links at OC-48 and higher speeds, and optical ribbon cable for high-speed, logic-to-logic data links.  Parallel optical modules are increasingly being used in high-speed computing, data communications, storage area networking and telecommunications applications.

Bryan Gregory, Corona's Chief Marketing Officer and Founder, stated, "Corona's alliance with a quality company like EMCORE furthers our goal of fully supporting our customers' needs while continuing to bring exciting and innovative technology to market."

"The OptoCube(tm) 40 is an excellent addition to EMCORE's portfolio given its small, compact size.  Our agreement with Corona allows us to offer the same performance and quality that is featured in the 9512 family in a low-profile form factor," said Hong Hou, Vice President of EMCORE Fiber Optics.  "This agreement further demonstrates Emcore's commitment to our parallel optics product family.  By having both products in our portfolio, EMCORE continues to position itself as a dominant player for fiber optic solutions in the enterprise space."

About EMCORE Corp.
EMCORE Corporation offers a versatile portfolio of compound semiconductor products for the rapidly expanding broadband and wireless communications markets and the solid-state lighting industry.  The company's integrated solutions philosophy embodies state-of-the-art technology, material science expertise, and a shared vision of our customer's goals and objectives to be leaders and pioneers in the rapidly growing communications market.  EMCORE's solutions include: optical components for fiber-to-the-curb/home/business, cable television, and high speed data and telecommunications; solar cells, solar panels and fiberoptic satellite links for global satellite communications; and electronic materials for high bandwidth communications systems, such as Internet access and wireless telephones.  Through its participation in GELcore, LLC, EMCORE plays a vital role in developing and commercializing next-generation LED technology for use in the general illumination market.  For further information about EMCORE, visit www.EMCORE.com. 

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Such forward-looking statements include, but are not limited to, any statement or implication that the products described in this press release (i) will be successfully introduced or marketed, (ii) will be qualified and purchased by our customers, or (iii) will perform to any particular specifications or performance or reliability standards.  Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations, business, and financial condition.  These risks and uncertainties include, but are not limited to, (a) the failure of the products (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, and iv) to successfully compete with products offered by our competitors, and (b) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.  The forward-looking statements contained in this news release are made as of the date hereof and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.

About Corona Optical Systems
Corona Optical Systems, Inc. is a venture-backed technology company with facilities in Lombard, Illinois and Eau Claire, Wisconsin. Its products include high-speed optoelectronic components and subsystems for carrier-class equipment.  Corona has been shipping its OptoCube(tm) 40 parallel optical transmitters and receivers since 2001.  For more information, visit www.coronasys.com.

Legal Statement:
Statements about either Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties and are subject to change at any time. Each Company's actual results could differ materially from these forward-looking statements. Each Company undertakes no obligation to update publicly any forward-looking statement.

Contact Information:
Brian Bardwell
EMCORE Corporation
2015 West Chestnut St.
Alhambra, CA 91803
(626) 293-3653 phone
bbardwell@EMCORE.com