Spectra Systems Corporation announces that its Board of Directors will be reduced from seven members to four. This contraction is in response to a G 7 central bank customer security requirement relating to the composition of the Board. As of this announcement, the Spectra Systems Board of Directors will be comprised of: The Honorable B. J. Penn, Chairman, Mr. Martin Jaskel, Non-Executive Director, Mr. Donald Stanford, Non-Executive Director, and Dr. Nabil M. Lawandy, Chief Executive Officer.

The company announced that the following were resigning from the position of non-executive directors: Messrs. Salam, Puton and Donohue.