EMCORE Announces Consolidation of Fiber Optics Engineering Design Centers

* Estimated Annualized Savings of Approximately $7.0M from Closure of Three Design Centers

ALBUQUERQUE, N.M., Aug. 31 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdaq: EMKR - News), a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets, today announced the consolidation of its North American fiber optics engineering and design centers into its three main operating sites.

EMCORE's engineering facilities in Virginia, Illinois, and Northern California will be consolidated into three larger primary sites in Albuquerque, New Mexico; Alhambra, California and Warminster, Pennsylvania. The consolidation of these engineering sites will allow EMCORE to leverage resources within engineering, new product introduction, and customer service.

"EMCORE has acquired several technology companies over the past few years. Each has contributed to the success of EMCORE's broadband and fiber optics businesses through the addition of new technologies, products, and customer portfolios. Consolidation of these design centers into three core sites will provide greater synergy across product lines, better leverage of engineering resources, shorter time to market, and increased customer support," said Hong Hou, President and Chief Operating Officer. "EMCORE will reduce operating costs by eliminating duplicate resources and infrastructures."

By consolidating facilities, EMCORE expects to realize annual cost savings of approximately $7.0 million. Production, product support, and key design personnel will be relocating to the main operating sites. Restructuring charges associated with the closure of facilities, relocation, and other costs are expected to total approximately $2.0 million.

The design center in Virginia was closed in June 2007, and design centers in Illinois and Northern California will be closed by September 2007.

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. We have two operating segments: Fiber Optics and Photovoltaics. EMCORE's Fiber Optic 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 Photovoltaic segment provides solar products for both 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 www.emcore.com.

Disclaimer:

The information provided herein may include 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. Such forward-looking statements include, but are not limited to, any statement or implication that the products described in this press release (i) will be successfully introduced or marketed, (ii) will be qualified and purchased by our customers, or (iii) will perform to any particular specifications or performance or reliability standards. Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations, business, and financial condition. These risks and uncertainties include, but are not limited to, (a) the failure of the products (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, and (iv) to successfully compete with products offered by our competitors, and (b) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. In addition, risks and uncertainties may arise from the facilities consolidation described herein, including (i) the ability to retain key personnel in the reduced number of facilities; and (ii) the ability to successfully transfer all operations into the reduced number of facilities. The forward-looking statements contained in this news release are made as of the date hereof and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.

    Contact:

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

SOURCE EMCORE Corporation

Released August 31, 2007