INRAD SIGNS AGREEMENT TO SELL ITS TUNABLE MID-IR LASER TECHNOLOGY

NORTHVALE, NJ, August 28 - INRAD, Inc. (OTC Bulletin Board: INRD) announced today that it has entered into a definitive agreement to sell its tunable mid-IR laser technology to an undisclosed instrument systems company. The terms of the agreement were not revealed.

The technology employs single crystal non-linear optical materials that are transparent in the infra-red waveband, a pump laser, and optical components arranged as an optical parametric oscillator to generate tunable infra-red radiation.

Dan Lehrfeld, President and CEO of INRAD commented, "The agreement to sell our tunable mid-IR laser technology represents our strategic decision to concentrate our resources on our core businesses. INRAD had advanced this technology to showcase the capabilities of our advanced IR materials, and to develop a key component suitable to the needs of an emerging class of scientific instruments and analysis systems. We believe that this technology will benefit from its transfer to a buyer in the spectrographic instrument industry who is positioned to pull the technology through its next development cycles and on to its eventual end-use in marketable systems. INRAD will continue to focus on supplying the highest quality crystal components in the world for end use in tunable mid-IR lasers and other IR laser applications."

INRAD, Inc. develops, manufactures, and supplies products for key Photonics Industry sectors via its three related product areas: Crystals and Crystal Components, Custom Optics, and Systems and Instruments. Its customers include leading corporations in the Laser Systems, Semiconductor and Telecomm Inspection Equipment, Telecommunications 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.

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", and "expects", 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 reports filed by Inrad 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 the reasons why actual results could differ materially from those projected.

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