INRAD'S LEHRFELD SUCCEEDS RUDERMAN AS CEO; LENAGH ELECTED CHAIRMAN

NORTHVALE, N.J., May 5 - INRAD, Inc. (OTC Bulletin Board: INRD) marked the transition to a new chief executive officer. Daniel Lehrfeld, President of INRAD since September 1999, today assumes the additional role of Chief Executive Officer.

Lehrfeld succeeds INRAD founder Dr. Warren Ruderman, who has served as INRAD's Chairman and Chief Executive Officer since 1973. Ruderman retires from executive responsibilities, but continues as a member of the Board of Directors

Thomas H. Lenagh, a member of the Board of Directors since 1998 and Chairman of the Executive Committee has been elected Chairman of the Board.

Dr. Ruderman commented, "Inrad has exceptional technical and manufacturing talent and excellent and well regarded product lines. Dan Lehrfeld's broad management and technical experience will enable him to ensure Inrad's future growth and prosperity."

Warren Ruderman founded INRAD in 1973. He built a technology-based company focused initially on electro-optic crystal materials and devices for the laser industry. Inrad quickly expanded its product breadth to include custom precision optics, and systems and instruments for modifying, controlling and measuring laser light. In 1983 he led INRAD's transition into a public company. In 1956 he founded and served as the President of Isomet Corporation, a manufacturer of acousto-optic devices for the laser industry, and was a Teaching Fellow, Lecturer in Chemistry, Research Scientist and Consultant at Columbia University. Dr. Ruderman was also a founder and served as a Director of the Melex Corporation (a life sciences company acquired by Revlon, Inc. in 1975). In the 1940's, he worked directly under Dr. John Dunning at Columbia University on slow neutron resonances for the wartime Manhattan Project. Dr. Ruderman holds a doctorate in Chemical Physics from Columbia University, and is a Fellow of the New York Academy of Sciences. He is an internationally recognized pioneer, scientific leader, and entrepreneur in the field of crystals and laser components and systems.

Prior to joining INRAD, Daniel Lehrfeld held the position of Vice President and General Manager of the Mahwah, NJ-based Electro-Optics Center, an electro-optical systems and components company, and a division successively of the Raytheon, GM/Hughes Electronics, and Magnavox Electronic Systems Corporations. Initially, he brought patented technology from Philips Research Laboratories to Magnavox and founded its components lines of business. He thereafter successively lead Operations, International Business, and Business Development, building and leading management teams, developing and implementing strategy, driving productivity growth, and creating strategic and international alliances, while the business grew from $9 million to $45 million in revenues. Previously as an Executive with Philips Electronics US-based corporate Research and Development Laboratories, he led a sector engaged in developing technology solutions for medical, imaging systems, alternative power, electronic components, and consumer products. He began his career as a Project Leader for Grumman Aerospace Corporation, leading thermal control and electrical power systems teams on the Project Apollo Lunar Lander. Mr. Lehrfeld holds B.S. and M.S. degrees from Columbia University's School of Engineering and Applied Science, and an M.B.A. degree from the Columbia Graduate School of Business.

Tom Lenagh is a former Chairman and CEO of Systems Planning Corporation (Greiner Engineering). Prior to that he was Financial Vice President of the Aspen Institute and Treasurer and Chief Investment Officer of the Ford Foundation. He is a retired Captain, USNR and a former Chairman of the Executive Committee of SCI Systems. Mr. Lenagh is a graduate of Williams College and holds an LLB degree from Columbia University.

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 Inspection Equipment, Telecommunications Components 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.

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