T-Ray Science, Inc.

T-Ray Science, Inc.

October 14, 2008 14:47 ET

MIT and T-Ray Science Conclude IP Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2008) - T-Ray Science, Inc. ("T-Ray", the "Company"), an emerging leader in the field of TeraHertz ("THz") research, today announced an exclusive patent license agreement has been reached with the Massachusetts Institute of Technology ("MIT"). The license grants T-Ray the exclusive right to produce spectroscopy and imaging systems which utilize dual-mode, pulsed and continuous TeraHertz (THz) waves.

This Dual Mode TeraHertz Spectroscopy and Imaging System is the first of its kind in the world. The System integrates both pulsed and continuous wave spectroscopic analysis and imaging, allowing the user to use a pulsed THz radiation generation mode to quickly find the portion of the THz spectrum where the absorption signature of a particular material under test is located. After that, one can switch to the continuous wave THz radiation generation mode to perform a high resolution scan over a small range of frequency around the absorption frequency determined by the pulsed THz system.

"T-Ray is excited to have reached this important Agreement with MIT that will enable us to begin developing industry specific applications for this revolutionary dual mode THz system," said President and CEO Thomas Braun.

TeraHertz radiation is a non-invasive form of radiation that lies between the infrared and microwave range of the electromagnetic spectrum.

Globally, the overall market for spectroscopy is valued at approximately $5.2 billion. While the THz spectroscopy and imaging segment of this industry is currently dominated by single-mode systems, market research has indicated a strong trend towards the use of dual-mode devices. Dual-mode THz spectroscopy and imaging is a disruptive technology which is expected to revolutionize the industry; the acquisition of this patent license moves T-Ray Science into an excellent position to benefit from this trend.

About T-Ray Science, Inc.

T-Ray Science, Inc. is a device-to-system technology development company that seeks to harness the power of TeraHertz electromagnetic radiation, the last unexplored region of the electromagnetic spectrum. The Company is involved in the design, innovation and commercialization of THz based products.

Forward Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of TeraHertz based products, the market demand for these products and the proprietary protections that the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.

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