SOURCE: Universal Capital Management

Universal Capital Management

June 22, 2009 07:00 ET

Universal Capital Management Reports on Lightwave Logic's Positive Test Results of Its "Next Generation" Electro-Optic Material Platform

WILMINGTON, DE--(Marketwire - June 22, 2009) - Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to report on the recent progress of one of its portfolio companies, Lightwave Logic, Inc. Lightwave is a technology company focused on the development of electro-optic polymer materials for applications in high-speed fiber-optic telecommunications and optical computing. The company recently re-confirmed previous r33 test results of its Perkinamine class materials.

Lightwave's most recent performance testing (r33) measurements conducted by Dr. C.C. Teng, the r33 Teng-Man testing protocol, support their previous test results which ranged from three to seven times the performance of competitive materials. The tests were conducted at 1350 and 1550 nano-meters (nm).

Lightwave is continuing with its independent performance testing and material characterization of the company's "Next Generation Electro-Optic Material Platform" using among others Johns Hopkins University and the University of Alabama. Professor John D. Tovar at Johns Hopkins University is characterizing Lightwave's Perkinamine class of materials using spectroelectrochemical methods, while the University of Alabama is characterizing Lightwave's Perkinamine class of materials using electro spin resonance spectroscopy.

Fred Goetz, Jr., Lightwave's Chief Science Officer, stated, "We believe we have created the first electro-optic polymer material platform to exhibit the ability to support a broad range of applications with thermal stability as high as 350 degrees Celsius. This high temperature stability of our materials eliminates a major obstacle to vertical integration of electro-optic polymers into standard microelectronic manufacturing processes."

"The results signify a technological breakthrough in the industry that scientists have spent years trying to master," says Michael Queen, CEO of Universal. "Lightwave was our first portfolio company. This news is substantial for increasing our shareholder value. The potential upside of this investment to Universal is paramount."

About Lightwave Logic, Inc.

Lightwave Logic, Inc. is a development stage company, moving toward prototype demonstration and commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Lightwave Logic, Inc. is a portfolio company of Universal Capital Management, Inc. (OTCBB: UCMT).

About Universal Capital Management, Inc.

Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that assists its portfolio companies to grow and increase in value. Please refer to the company's website at http://www.unicapman.com.

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