Kopin Completes Sale of Korean Assembly Facility for Approximately $8.1 Million


Kopin® Corporation (NADSAQ:KOPN),
a leading developer of innovative augmented reality and virtual reality
wearable computing technologies and solutions, today announced that it
has finalized the sale of its Korean assembly facility and land for 9.5
billion Won or approximately 8.1 million US dollars as of the close of
the transaction on June 10, 2016. Kopin had previously disclosed that it
planned to divest the facility in Gyeonggi-do Korea after the facility,
which supported the packaging of displays for camcorder and digital
still camera products, ceased operations in 2013.

“This sale further strengthens our financial position ($90.9 million in
cash, cash equivalents and marketable securities and no debt as of March
26, 2016) while reducing some remaining operating expenses at the
facility,” said Dr. John C.C. Fan, President and CEO of Kopin. “Our
strong capital base is key to executing upon our strategy in wearables
as we move from development to partnerships and sales. For example, we
recently began marketing to avid cyclists our augmented reality Solos™
eyewear which includes our patented Pupil™ optics.”

The 9.5 billion Won sale price (approximately $8.1 million as of June
10, 2016) is before any taxes and fees. The Company noted that
approximately 10% of the purchase price, or 945 million Won ($828,000 US
Dollars), was included in cash, cash equivalents and marketable
securities in the balance sheet included in the Form 10-Q for the three
months ended March 26, 2016.

About Kopin

Kopin Corporation is a leading developer and provider of innovative
wearable technologies and solutions for integration into head-worn
computing and display systems to military, industrial and consumer
customers. Kopin’s technology portfolio includes ultra-small displays,
optics, speech enhancement technology, system and hands-free control
software, low-power ASICs, and ergonomically designed smart headset
reference systems. Kopin’s proprietary components and technology are
protected by more than 300 global patents and patents pending. For more
information, please visit Kopin’s website at www.kopin.com.

Kopin and Pupil are trademarks of Kopin Corporation.

Forward-Looking Statements

Statements in this press release may be considered “forward-looking”
statements under the “Safe Harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These include, without limitation,
statements relating to our statement that the transaction will reduce
some operating expenses and we are moving from development to
partnerships and sales. These statements involve a number of risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements. These risks and
uncertainties include, but are not limited to, the following: the
transaction may not eliminate operating expenses, we may not develop
partnerships and if we do they may not result in future sales;
may take longer than the Company estimates to develop products; the
Company’s products
may not be accepted by the market place; there
may be issues that prevent the adoption or further development of the
Company’s wearable computing technologies;
marketing or other issues may prevent either the adoption or acceptance
of products; the Company might be adversely affected by competitive
products and pricing; new product initiatives and other research and
development efforts may be unsuccessful; the Company could experience
the loss of significant customers; costs to produce the Company’s
products might increase significantly, or yields could
the Company’s customers might be unable to ramp production volumes of
their products, or the Company’s product forecasts could turn out to be
wrong; manufacturing delays, technical issues, economic conditions or
external factors may prevent the Company from achieving its goals; and
other risk factors and cautionary statements listed in the Company’s
periodic reports and registration statements filed with the Securities
and Exchange Commission, including the Annual Report on Form 10-K for
the 12 months ended December 26, 2015, and the Company’s subsequent
filings with the Securities and Exchange Commission. You should not
place undue reliance on any forward-looking statements, which are based
only on information currently available to the Company and only as of
the date on which they are made. The Company undertakes no obligation to
update any of these forward-looking statements to reflect events or
circumstances occurring after the date of this release.

Kopin Corporation
Richard Sneider, 508-870-5959
and Chief Financial Officer
Street Partners
Joann Horne, 415-445-3233