Raydiance Honored by Two Prestigious Industry Awards for Achievements in Business, Technology and Innovation : Next-Generation Laser Company Named Red Herring 100 North America Winner and 2008 American Business AwardsSM Finalist for Most Innovative Company

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Raydiance, Inc., the developer of the world’s first compact, cost-effective and fully software-controlled ultrashort pulse (USP) laser system, has been recognized as a Red Herring 100 North America winner, an award given to the top 100 private technology companies based in North America, and also has been selected as a finalist in the Most Innovative Company category in the 2008 American Business Awards.

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The companies on this year's list are proof that creative ideas continue to find the funding that turns them into promising businesses.

"We are thrilled to be recognized as a successful, innovative, fast-growth company by these two prestigious groups," said Raydiance Chief Executive Officer Mel Engle. "Since launching our first product last year, Raydiance's easy-to-use USP platform has spurred an explosion of applications research and development across a range of industries. This recognition by Red Herring and the American Business Awards is a strong testament to the entrepreneurial vision, hard work and achievements of Raydiance's engineers, scientists, and management team."

Red Herring 100 North America Recognizes Raydiance as Leading Private Technology Company

The Red Herring 100 winners, which were announced in San Jose, CA, on May 13, were chosen by the editors of Red Herring from more than 800 companies based in the U.S. and Canada. Winners were selected based on the level of technology innovation, quality of management, breadth of partners and customers and depth of financial backing.

"The large number of entries in this year's competition demonstrates that the economic slowdown has not affected technology innovation," said Joel Dreyfuss, editor-in-chief of Red Herring. "The companies on this year's list are proof that creative ideas continue to find the funding that turns them into promising businesses."

American Business Awards Honors Raydiance as Leading Innovator

The American Business Awards (ABA) is the only national, all-encompassing awards program honoring great performances in business. Often referred to as the "the business world's own Oscars," more than 2,600 entries from companies of all sizes and in virtually every industry were submitted for consideration in more than 40 categories. Raydiance was selected as a finalist in the "Most Innovative Company – Up to 100 Employees" category.

The winner of each category receives a Stevie® Award, which will be announced during the ABA's annual gala on Thursday, June 12 at the Marriott Marquis Hotel in New York City. More than 600 executives from across the country are expected to attend.

"ABA entries grew more than 30% this year, so being named a Finalist is more of an accomplishment than ever before," said Michael Gallagher, founder and president of The Stevie Awards. "It means that independent business executives have agreed that the nominee is worthy of national recognition. We congratulate all of the Finalists on their achievement and wish them well in the competition."

Members of the Awards' Board of Distinguished Judges & Advisors and their staffs will select Stevie Award winners from among Finalists in final judging during the week of May 19. Finalists were chosen by business professionals nationwide during preliminary judging in April through early May.

About Raydiance, Inc.

Raydiance is a next-generation laser company that has integrated photonic, computing, and software technologies to create the world's first broadly enabling laser platform.

Raydiance's breakthrough technology brings "intelligent" control and small form factor to ultrashort pulse (USP) laser light—extremely brief and powerful light pulses capable of precisely vaporizing virtually any material without generating heat. By coupling software control and miniaturized hardware with its technology-as-a-service subscription model, Raydiance has made USP technology affordable, practical and easy to use for the development of revolutionary new applications spanning multiple industries.

Under the guidance of Raydiance founder Barry Schuler, former AOL Chairman and CEO, Raydiance has emerged as a fast-growth company and has taken an industry lead in building volume commercialization of this transformative technology. The Raydiance vision has been validated in the marketplace by early adopters across several application sectors, including cancer treatment, next-generation surgery, gene therapy, cosmetic applications, high value materials processing, nanotechnology, bioengineering, defense/security, and more. For more information, please visit http://www.Raydiance-Inc.com.

About Red Herring 100 North America

To be selected as a Red Herring 100 winner or finalist is a mark of distinction and high honor. Only 200 companies are chosen as finalists out of a pool of thousands. Of those finalists we selected 100 companies as winners. To decide on these companies the Red Herring editorial team diligently surveys entrepreneurship around the globe. Technology industry executives, investors, and observers regard the Red Herring 100 lists as invaluable instruments to discover and advocate the promising startups that will lead the next wave of disruption and innovation.

Past award winners include Google, Yahoo!, Skype, Netscape, Salesforce.com, and YouTube.

About The Stevie Awards

Hailed as "the business world's own Oscars," Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at http://www.stevieawards.com.

Global Sponsor of the 2008 Stevie Awards is Dow Jones. Supporting sponsors of The 2008 American Business Awards include FIS Softpro, High Performance Technologies Inc., John Hancock, RCN Corporation, Richardson, and Ultimate Software. Media sponsors include the Business TalkRadio Network, CRM Advocate, and Human Resource Executive.

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