Press Release
	FOR IMMEDIATE RELEASE Thursday, October 23, 2003 Source: Photonic Products Group, Inc. (formerly INRAD, Inc.) PHOTONIC PRODUCTS GROUP, INC. OFFICIAL NEW NAME FOR INRAD, INC. NORTHVALE, N.J., October 23 – Photonic Products Group, Inc. (OTC Bulletin Board: PHPG) today reported that its new name, approved by its shareholders in August, and new stock symbol (PHPG), are now officially in effect. Dan Lehrfeld, President and CEO of INRAD, commented, "The name change to Photonic Products Group, Inc., now in effect, is the first step in transforming the corporation into a portfolio of branded products that fit the paradigm “Products enabling Photonics”. INRAD remains as our first, and legacy, brand. We expect it to be soon joined by the first of others.” Photonic Products Group, Inc. currently develops, manufactures, and supplies products for key Photonics Industry sectors via its INRAD Crystal Components and Systems, and INRAD Custom Optics lines of products and services. Its customers include leading corporations in the Laser Systems, Metrology and Inspection Equipment, and Defense industries, as well as the U.S. Government. Its products are also used extensively by researchers at National Laboratories and Universities world-wide. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as "believes", "expects", "will", "plan", or similar words. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward looking statements are, but are not limited to, uncertainties in market demand for the company's products or the products of its customers, future actions by competitors, inability to implement its growth strategy, inability to raise capital, and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. The forward looking statements made in this news release are made as of the date hereof and INRAD does not assume any obligation to update publicly any forward looking statement.
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