XLTC Excel Tech (MM)

Excel Technology, Inc. (Nasdaq: XLTC) announced today that it has terminated the Merger Agreement with Coherent, Inc. (Nasdaq: COHR), pursuant to which Coherent was to acquire Excel Technology, as a consequence of the prohibition order received by Coherent from the German Federal Cartel Office and the failure to consummate the merger by the October 31, 2006 date provided in the Merger Agreement for the consummation of the Merger. Antoine Dominic, Chief Executive Officer of Excel Technology, stated, �The management and employees have been exceptional during last several months under difficult conditions. They have maintained their commitment, focus and professionalism in continuing to build Excel as evidenced by our achievements during this period. We believe that the Company has a strong foundation and look forward to continuing its growth pattern.� Excel and its wholly owned subsidiaries manufacture and market photonics-based solutions, consisting of laser systems and electro-optical components, primarily for industrial/commercial and scientific applications. Excel Technology, Inc. (Nasdaq: XLTC) announced today that it has terminated the Merger Agreement with Coherent, Inc. (Nasdaq: COHR), pursuant to which Coherent was to acquire Excel Technology, as a consequence of the prohibition order received by Coherent from the German Federal Cartel Office and the failure to consummate the merger by the October 31, 2006 date provided in the Merger Agreement for the consummation of the Merger. Antoine Dominic, Chief Executive Officer of Excel Technology, stated, "The management and employees have been exceptional during last several months under difficult conditions. They have maintained their commitment, focus and professionalism in continuing to build Excel as evidenced by our achievements during this period. We believe that the Company has a strong foundation and look forward to continuing its growth pattern." Excel and its wholly owned subsidiaries manufacture and market photonics-based solutions, consisting of laser systems and electro-optical components, primarily for industrial/commercial and scientific applications.