EMA Emagin Corp

eMagin Corporation (AMEX:EMA) is pleased to announce the appointment of Irwin Engelman to the Company's Board of Directors. Irwin Engelman is currently a consultant to various industrial companies. From 1992 until April 1999, he served as Executive Vice President and Chief Financial Officer of MacAndrews & Forbes Holdings, Inc., a privately-held financial holding company. From November 1998 until April 1999, he also served as Vice Chairman, Chief Administrative Officer and a director of Revlon, Inc. He has previously served as executive officer of various public companies including YouthStream Media Networks, International Specialty Products, Inc. (a subsidiary of GAF Holdings Inc.), CitiTrust Bancorporation, General Foods Corporation, The Singer Company, and Xerox Corporation. Mr. Engelman earned a BBA degree in accounting from the Baruch School of Business Administration at the City College of New York and a juris doctor (J.D.) degree from Brooklyn Law School. Mr. Engelman is Chairman and President of the National Corporate Theatre Fund and is a trustee and past president of the Baruch College Fund. He currently serves as a member of the board of directors of the Sanford B. Bernstein division of Alliance Capital and for New Plan Excel Realty Trust. "Irwin Engelman's extensive background in finance, strategic management, and accounting will make him a key contributor to our management team, and we are delighted to welcome Irwin to our Board," said Gary Jones, eMagin's chairman, president, and chief executive officer. Jack Rivkin to Retire from Board The Company also announces that Jack Rivkin will retire from the eMagin Board at the end of the term which concludes at the Company's annual meeting in June 2005. Mr. Rivkin's decision not to serve in a Director capacity in a public company was prompted by the requirements of his other professional responsibilities. Mr. Rivkin joined the eMagin board in June 1996, when the company was privately held. "Jack has made invaluable contributions to the company and its shareholders for almost a decade, particularly as a member and chair of the audit committee," said Gary Jones. "We are grateful for Jack's insight, guidance, and unwavering commitment to excellence and innovation over the years. On behalf of his fellow directors and the entire management team, I wish him continued success with all of his endeavors." Mr. Rivkin said, "The process of helping eMagin grow to a global leader in virtual imaging technology has been challenging, fulfilling, and, I believe, ultimately rewarding. I have greatly enjoyed my relationship with Management and board members and have the highest regard for their ability to guide the Company. I have also enjoyed meeting and getting to know many of the investors in the Company, and I look forward to joining them as we follow the company's progress as fellow shareholders." Mr. Rivkin is Executive Vice-President and Chief Investment Officer of Neuberger Berman, a Lehman Brothers company. He is also President of the Board of Trustees of the Neuberger Berman family of mutual funds. Mr. Engelman will succeed Mr. Rivkin as Chairman of the Audit Committee. Other members of the eMagin Board of Directors, in addition to Mr. Jones and Mr. Engelman, are Claude Charles, President of Great Tangley Corporation, Paul Cronson., Managing Director of Larkspur Capital Corporation, Dr. Jack Goldman, former CTO of Xerox Corporation and founder of Xerox's PARC Laboratory, Rear Admiral Thomas Paulsen (USN ret.), and Dr. Jill Wittels, Corporate Vice President of Business Development for L-3 Communications. About eMagin Corporation A leader in virtual imaging technology, eMagin integrates high-resolution OLED microdisplays, magnifying optics, and systems technologies to create a virtual image that appears comparable to that of a computer monitor or a large-screen television. With unique technology for producing high-performance small molecule OLED-on-silicon microdisplays and related optical systems, eMagin is the only company to supply these displays in commercial quantities to OEMs. In addition, the company sells integrated modules to military, industrial and medical customers, and has recently announced its first consumer system, the Z800 3D Visor. eMagin's microdisplay operations are co-located with IBM on its campus in East Fishkill, N.Y. Optics and system design facilities are located in Redmond, Wash. For additional information, please visit www.emagin.com and www.3dvisor.com Forward Looking Statements This 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. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. 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.