Light Blue Optics Signs Exclusive Licensing Agreement and Secures Additional US$1 Million in Funding

Light Blue Optics (LBO), the industry-leading developer of
miniature laser projection technology, today announced the closing of
a US$1 million extension to its seed funding round. 3i, the FTSE 100
listed global venture capital firm, led the round which also included
investment from NESTA, the Cambridge Capital Group and business
angels. The money will enable the Company to accelerate its product
development programme, and follows the closure of a US$2.5 million
seed funding round in July 2006, also led by 3i plc.

LBO has also announced signing an exclusive licensing agreement on
a key patent with Cambridge Enterprise Ltd, the University of
Cambridge's technology commercialisation service. The patent is a
method for real-time, full-colour holographic laser projection, and
was invented in 2003 by LBO's Director of Business Development, Dr
Edward Buckley, and Chief Technology Officer, Dr Adrian Cable, while
they were PhD students at the University of Cambridge.

Founded in 2004, LBO has developed an innovative projection system
that uses laser light sources and diffractive techniques to deliver
high-quality, real-time, full-colour video images in focus at all
distances - even on curved or angled surfaces. This patented
technology offers a unique combination of features and benefits
including:

* Compact size * Focus free operation * Wide throw angle * Robust
design with no moving parts * Low power consumption * Simple, low cost
manufacture

Dr Edward Buckley explained, "Light Blue Optics offers a unique
and very elegant solution which meets the needs of a rapidly-growing
market for projection-enabled applications. The efficiency, robustness
and cost advantages of our technology make it ideally suited for
deployment in multiple markets; including automotive, digital signage
and consumer electronics."

Since closing the US$2.5 million seed-funding round in July, Light
Blue Optics has been building relationships with strategic customers
and development partners. Laurence Garrett, 3i Partner said, "We have
been very impressed by the traction LBO has gained with launch
customers - it indicates a strong demand for LBO's technology across a
range of markets. At 3i, we invest in cutting-edge technology
companies that have the potential to be market leaders. LBO is
realising that potential and we're pleased to support its accelerated
product development programme by providing this additional funding."

Light Blue Optics' CEO, Dr Chris Harris said, "This funding
demonstrates the significant confidence our investors have in LBO and
our fast-paced technology roadmap. We're particularly pleased to have
reached a licensing agreement with Cambridge Enterprise. We now have a
strong, clear IP position, and are ideally placed to become the
world's leading supplier of miniature laser projection systems."

Notes to Editors:

Light Blue Optics (http://www.lightblueoptics.com)

Light Blue Optics (LBO) is a dynamic, privately-owned company
based in Cambridge, UK. The company has developed a unique, patented
technology which enables the realisation of ultra-miniature laser
projection devices.

The power, robustness and cost advantages provided by this
technology make it ideally suited for deployment in multiple markets;
including automotive, digital signage and consumer electronics. LBO is
funded by a group of investors including 3i plc, the FTSE 100 listed
global venture capital firm.

3i (http://www.3i.com)

NESTA (http://www.nesta.org.uk)

Cambridge Capital Group (http://www.cambridgecapitalgroup.co.uk)

Cambridge Enterprise (http://www.enterprise.cam.ac.uk)

To read the press release with full notes for editors, CLICK HERE
(http://www.lightblueoptics.com/news/1206)

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