Enablence Technologies Inc.

Enablence Technologies Inc.

July 31, 2008 11:16 ET

Enablence Acquires DuPont Photonics Through Asset Deal and DuPont Invests $US 5M

OTTAWA, ONTARIO, CANADA--(Marketwire - July 31, 2008) - Enablence Technologies Inc. (TSX VENTURE:ENA), ("Enablence" or the "Corporation") a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long haul markets, announced today that Enablence and its wholly-owned subsidiary, Enablence Technologies USA Inc. has completed the transactions contemplated under the Asset Purchase Agreement dated July 10, 2008 (the "Agreement") with DuPont Photonics Technologies LLC ("DuPont Photonics") and its parent company, E.I. du Pont de Nemours and Company ("DuPont") (NYSE:DD) to acquire certain assets of DuPont Photonics (the "Transaction"). DuPont Photonics is based in the Boston suburb of Wilmington, Massachusetts. Concurrent with the closing of the Transaction, DuPont has completed a US$5 million investment in Enablence.

Under the terms of the Agreement, Enablence issued 6,847,638 common shares, at a price of $1.42 per share, as consideration for the acquisition of DuPont Photonics assets and the investment by DuPont of US$5 million, for a total value of US$9.5 million. All shares issued are subject to the statutory 120 days hold-period.

The intellectual property and other assets acquired under the Agreement will position Enablence to deliver Planar Lightwave Circuits (PLC)-based products such as integrated Reconfigurable Optical Add Drop Multiplexers (ROADM), 1xN, MxN and NxN switches and Variable Optical Attenuators - all of which are key components in high demand in optical networks. It will expand Enablence's market and reach while strengthening its position as a leader in providing PLC-based solutions. "The acquired intellectual property, facilities and product lines are complementary to Enablence's current operations in its Optical Components and Subsystems Division. This acquisition will provide an immediate revenue stream and an opportunity to cross-sell these DuPont Photonics products to our worldwide customer base." explained Arvind Chhatbar, President and CEO of Enablence.

"Enablence was the best fit for the technology developed at DuPont Photonics given that Enablence is emerging as a leader in the PLC space. The acquisition will permit DuPont Photonics customers to be serviced by a company that has a proven track record of delivering advanced photonic components in access, metro, and long haul communication markets," explained Daminder Johar, General Manager of Dupont Photonics.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE:ENA) a publicly traded company, designs, manufactures and sells optical components, subsystems and systems to a global customer base. With corporate headquarters in Ottawa, Ontario, Canada, the company has two divisions, the FTTx Networks Division and the Optical Components & Subsystems Division, which provide products for access, metro and long haul optical communications applications. The company's component products rely on proprietary planar lightwave circuit (PLC) technology to integrate multiple optical functionalities into a single optical chip to address the global rollout of Fiber to the Home (FTTH).

About DuPont Photonics

DuPont Photonics is a wholly owned subsidiary of DuPont (NYSE:DD) located in the Boston suburb of Wilmington, MA. DuPont Photonics designs and manufactures switching and reconfigurable optical components and modules for the global telecommunication and data communications optical networks.

About DuPont

DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

Forward Looking Statements

The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation's expectations and projections.

The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.

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