EMCORE Corporation Completes Its Financial Restatement and Files Reports With the Securities and Exchange Commission

ALBUQUERQUE, N.M., Nov. 1 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdaq: EMKR), announced today that following the completion of the voluntary review of the Company's historical stock option granting practices, the Company has filed with the Securities and Exchange Commission ("SEC") its Annual Report on Form 10-K for the fiscal year ended September 30, 2006 and its Quarterly Reports on Form 10-Q for the quarters ended December 31, 2006, March 31, 2007, and June 30, 2007. These filings supersede in their entirety the preliminary quarterly earnings releases issued on January 8, 2007, April 25, 2007, July 10, 2007, and October 10, 2007. The Company is now current in its SEC filings and believes that it is taking the appropriate steps to regain compliance with the requirements for continued listing on the NASDAQ Global Market.

Safe Harbor

Certain statements that are not historical facts constitute "forward- looking statements"' within the meaning of the Private Securities Litigation Reform Act under the Securities Exchange Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are the potential impact of the Special Committee's findings and recommendations with respect to the Company's stock option granting practices; the restatement of our consolidated financial statements; the outcome of the proceedings with the NASDAQ; the outcome of current and possible future litigation, as well as the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2006 and its Form 10-Q reports filed with the SEC. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update these statements.

About EMCORE

EMCORE is a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. We have two operating segments: Fiber Optics and Photovoltaics. 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 Photovoltaics 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 (CICs) and fully integrated solar panels. For terrestrial applications, EMCORE offers its high-efficiency GaAs solar cells 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.

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

     TTC Group
     Victor Allgeier
     (646) 290-6400
     info@ttcominc.com

SOURCE EMCORE Corporation

Released November 1, 2007