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eMagin Advocates Virtually Large Screen OLED Microdisplays for Entertainment

Affirms Commitment to Near-Eye Consumer Applications at Intertech Home

Hopewell Junction, N.Y., July 28, 2004 -- eMagin Corporation (AMEX:EMA), the leading manufacturer of active matrix OLED microdisplays, announced that the company will present today at Intertech's Large Screen Displays for Home Entertainment Conference in San Diego, California. At the annual conference which highlights markets, technological advances, and applications of physically large screens, Gary Jones, chief executive officer, will provide an alternative perspective of miniature microdisplays for portable, virtually large screen views.

Affirming eMagin's commitment to developing OLED microdisplays for consumer applications, Mr. Jones notes that getting a large-display experience need not imply "more weight and less portability."

"It's time to think beyond the border imposed by typical fixed screens. Whether it's 12 inches or 72 inches, there's still a border, a limit," said Mr. Jones. "We will talk about the large screen experience where the effective usable size can be almost anything and wrap around you. At eMagin, we challenge ourselves to think beyond the edges."

Mr. Jones noted that the company has demonstrated a binocular headset that delivered 3D stereovision in effective full-surround so that a viewer could see left and right, up and down, and behind with a simple turn or nod of the head. This can provide the effect of hundreds of displays placed all around the user.

"It's taken time to develop the right combination of technologies," said Jones, citing early efforts at virtual reality headsets that relied on heavy CRTs or LCDs that demanded a lot of power and delivered images plagued by flicker. "Displays were the weakest link, which is being overcome by eMagin's OLED on silicon SVGA+ and SVGA-3D displays, but there were other issues which slowed the progress toward this surround view concept. These encumbrances include slow processors not optimized for video and complex requirements for video processing, head tracking, difficult small field or heavy optics, large amounts of processing for stereovision, and high power where batteries, charges and even heat were major issues."

"Technology developments have now converged to move beyond those issues. Microprocessors are faster, plug-and-play surround imaging is closer to reality, precision large field optics are now moldable with new equipment, and video and audio are standard. OLED microdisplays are one more key development, and they can draw all the power they need through the USB port. And they deliver, in a compact size, brilliant, high speed color video and very high contrast with no flicker."

"They're easy on the eye and have simple system requirements. That's why more than 30 products currently use eMagin OLED displays, primarily first for a diverse array of industrial, medical, and military applications, but with many more products in development for high volume consumer uses."

In addition to discussing market opportunities, Mr. Jones is providing an overview of the technology, which entails a layer of emissive organic light-emitting diode material on a silicon chip. Once charged each pixel illuminates immediately at speeds about 1000x that of LCDs at a fraction of the power.

"For many consumer applications – from television to personal computing to electronic gaming – OLED microdisplays offer a borderless viewing experience," said Mr. Jones. eMagin's presentation is scheduled today at 1:00 p.m. PDT at the Hilton San Diego Resort Hotel.

About eMagin Corporation: A leader in OLED technology and personal display systems, eMagin manufactures and integrates high-resolution OLED microdisplays, magnifying optics, and systems technologies to create a virtual image comparable to that of a large computer monitor or a large-screen television. eMagin's OLED displays have been incorporated into a variety of near-eye imaging products for military, industrial, medical, and consumer markets that choose eMagin's award-winning technology as a core component for their solutions. eMagin's first personal display system, the Z800 3DVisor, provides superb 3D stereovision and headtracking for PC gaming, training and simulation, and other applications. It won the CEA's Best of Innovations award in the digital display category and won additional recognition in the electronic gaming category. eMagin's microdisplay manufacturing and R&D operations are co-located with IBM on its campus in East Fishkill, New York. System design facilities and sales and marketing are located in Bellevue, Washington. A sales office is located in Tokyo, Japan. For additional information, please visit www.emagin.com and www.3dvisor.com.

Forward Looking Statements: This press 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, including those regarding eMagin Corporation and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon information available to eMagin's management as of the date hereof, and actual results may vary based upon future events, both within and without eMagin management's control. 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.

Note:eMagin, Eyebud, 3DVisor, X800 and Z800 are trademarks of eMagin Corporation.

FOR MORE INFORMATION:

Contact: Joe Runde
Phone: 425.882.7878
Email: jrunde@emagin.com