Scion to Exhibit These Products at Upcoming OFC

Milpitas, CA � March 15, 2002 - Scion Photonics Inc. will be introducing a range of best-of-class photonics products with prices as low as $100/channel in volume. Scion will display its comprehensive family of advanced products at the upcoming Optical Fiber Conference and Exhibit later this month.

Dr. Jy Bhardwaj, CEO & CTO of Scion, says, "Our customers are experiencing tremendous price pressure. There is a clear need for delivering advanced components at low costs without any performance penalties. Scion has focused on this objective right from the start and is delivering unprecedented price-performance to the market today. We can now deliver $100/channel devices in volume. Our price-performance capabilities enable us to be very competitive against thin film filter and fiber Bragg grating based devices even at low channel counts".

Scion�s products include industry leading Arrayed Waveguide Grating devices, Variable Output Attenuator Arrays, and advanced integrated devices. Dr. Venkatesan Murali, COO of Scion, said "What separates Scion from our competitors has been our basic technology building block approach combined with crisp execution. This core-competency has enabled us to deliver Telcordia 1221 qualified, best-of-class devices at paradigm shifting price points."

�We are also leveraging our best-in-class design and process capabilities to address customers� pain points by rapidly delivering practical, integrated solutions,� added Murali. �For example, our multi-band AWGs address inventory issues associated with using TFF-OADM components in banded metro solutions. Our devices are optimized to meet the customers� optical, thermal, electrical, and size constraints. This has been validated by the substantial customer traction and product qualification that we have achieved over the past 12 months".

Concludes Bhardwaj, �Our ability to rapidly deliver integrated products that result in higher performance, lower costs, and reduction in customer piece part inventory is a key differentiator for Scion as we move forward.�

Additionally, Scion�s technology expertise in the area of Planar Lightwave Circuit manufacturing � 200mm wafer, advanced packaging, and automated fiber interfacing capabilities � has enabled them to emerge as a leading source for contract development and manufacturing. Scion is engaged with a number of photonic companies and has delivered a variety of application specific devices, most notably all optical switches.

You will be able to see Scion's product offerings and meet with the team at OFC, Booth # 2197.

Scion Photonics, Inc. is a leading provider of application specific photonic solutions. Scion's shareholders include Read-Rite Corporation (Nasdaq: RDRT), Tyco Ventures, and Integral Capital Partners. For additional corporate information, please visit http://www.scionphotonics.com.