EMCORE Corporation Announces Increase in Private Placement

ALBUQUERQUE, N.M., Feb. 15 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdaq: EMKR) announced today that due to increased demand, it had agreed to issue an additional $6 million in the private placement which increased the total amount of the capital raised to $100 million. The increase of $6 million was agreed to on identical terms of the previously announced private placement.

In total, the Company has agreed to issue and sell, in a private placement $100 million of securities consisting, in the aggregate, of approximately 8 million shares of its common stock and warrants to purchase up to approximately 1.4 million additional shares. The purchase price was $12.50 per share, priced at the 20 day volume-weighted average price. The warrants have a five-year term and an exercise price of $15.06 per share. Jefferies & Company, Inc. acted as the Lead Placement Agent and Canaccord Adams Inc., Lazard Freres & Co. LLC and Merriman Curhan & Ford Co. acted as co-placement agents for the private placement. The private placement is expected to close on or before Wednesday, February 20, 2008.

EMCORE issued and sold the securities to selected institutional investors. EMCORE intends to use the net proceeds to acquire the telecom assets of Intel's Optical Platform Division and for working capital requirements.

The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the absence of an effective registration statement under the Securities Act and applicable state securities laws or exemption from these registration requirements. EMCORE has agreed to file a registration statement covering the resale of the shares of common stock acquired by investors and the resale of shares of common stock issuable upon exercise of the warrants.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful.

About EMCORE

EMCORE Corporation is a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE's Fiber Optics segment offers optical components, subsystems and systems that enable the transmission of video, voice and data over high-capacity fiber optic cables for high-speed data and telecommunications, cable television (CATV) and fiber-to-the-premises (FTTP) networks. EMCORE's Solar Power segment provides solar products for satellite and terrestrial applications. For satellite applications, EMCORE offers high- efficiency compound semiconductor-based gallium arsenide (GaAs) solar cells, covered interconnect cells and fully integrated solar panels. For terrestrial applications, EMCORE offers concentrating photovoltaic (CPV) systems for utility scale solar applications as well as offering its high-efficiency GaAs solar cells and CPV components for use in solar power concentrator systems. For specific information about our company, our products or the markets we serve, please visit our website at http://www.emcore.com.

Safe Harbor:

Statements in this press release that are not historical facts, and the assumptions underlying such statements, constitute "forward- looking statements" and assumptions underlying "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 and involve a number of risks and uncertainties. The actual results of the future events described in such statements could differ materially from those stated in such statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the closing of the private placement transaction and its timing and the use of the proceeds of the transaction. The transaction is subject to customary conditions and would not be completed if any of these conditions were not satisfied or waived. In addition, the ability of EMCORE and the investors to complete the transaction in a timely manner could also be affected by logistical and market factors. EMCORE's use of the proceeds may change depending on future events. Readers should also review the risk factors set forth in EMCORE's Annual Report on Form 10-K for the fiscal year ended September 30, 2007. These forward-looking statements are made as of the date hereof, and EMCORE does not assume any obligation to update these statements.

     CONTACT:
     EMCORE Corporation
     Adam Gushard - Interim Chief Financial Officer
     (505) 332-5000
     info@emcore.com

     TTC Group
     Vic Allgeier
     (646) 290-6400
     vic@ttcominc.com

SOURCE EMCORE Corporation

Released February 15, 2008