EMagin Receives $1.1 Million SBIR Contract From USSOCOM For Greater Than HD OLED Microdisplay

eMagin Corporation (NYSE Amex: EMAN), a leader in Organic Light Emitting Diode (OLED) microdisplays and virtual imaging technologies, announced today that it has been awarded a $1.12 million Small Business Innovation Research (SBIR) contract from the United States Special Operations Command (USSOCOM). This project will optimize eMagin’s WUXGA OLED microdisplay for mass production and includes an option of $435 thousand. This is the world’s highest resolution full-color microdisplay ever produced and has dual use applicability.

The WUXGA OLED microdisplay development was originally funded through the U.S. Army Telemedicine and Advanced Technology Research Center (TATRC) and the display is currently available as an engineering sample to commercial OEM customers and military contractors. The objective of this SBIR project will make the 1920 x 1200 pixel OLED microdisplay affordable for a variety of commercial and military applications.

“With HD 1080P and higher resolution, extremely high-contrast (>10,000 to 1), and low power (<350 mW), the WUXGA microdisplay is our most advanced OLED product,” said Andrew Sculley, eMagin President and CEO. “The SBIR funding will help bring low-power affordable OLED HD resolution to military display applications, as well as personal displays. Products range from gaming and entertainment headsets with true 3D stereovision, to high-performance simulation & training systems and electronic viewfinders (EVFs) for high-end digital still and motion cameras used in both military and commercial applications,” Sculley continued.

The base period of the SBIR project is scheduled for seven months, beginning in February 2012, with an additional six month option period to further optimize the display.

About eMagin Corporation

A leader in OLED microdisplay technology and personal display systems, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. More information about eMagin is available at www.emagin.com.

Forward-Looking Statements

This press release contains 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, including those regarding eMagin Corporation's expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company's most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

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