NEO Photonics $35M Funding is Over-subscribed

Fremont, CA, June 18, 2002 -- NeoPhotonics Corporation announced completion of the final tranche of a financing round totaling in whole approximately $35 million.

New equity investors CDP Capital - Technology Ventures (formerly CDP Sofinov), Rockport Capital Partners, Small-Technology Venture Capital (Harris & Harris Group), Linkmore Capital joined existing investors Bay Partners, Venrock Associates, Institutional Venture Partners, SBV Venture Partners, Nth Power Technologies, Hydro Quebec CapiTech, Sands Brothers, Groupe Siparex, XR Ventures, and Dow Corning Corporation and existing debt financier Dominion Ventures in completing the round, which was over-subscribed. In conjunction with this equity round, GE Capital Technology Finance is providing lease financing for business critical assets.

Co-lead investor Bob Williams, General Partner at Bay Partners noted, "I am pleased to see NeoPhotonics' unique nano-based technology being commercialized in planar components. It will dramatically decrease the cost of integration and has tremendous additional applications as a broad-based platform in the optical components sector."

As part of this round, both Mr. Williams and Yves Lamarre, partner at CDP Capital - Technology Ventures joined the Board of Directors of NeoPhotonics. NeoPhotonics develops and manufactures advanced planar optical devices by monolithically integrating active and passive optical materials using the company's proprietary nanomaterials-based process solutions. The company's custom-engineered platform solutions uniquely enable integration of active and passive functions into planar waveguide products.

For more information, visit www.neophotonics.com.

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