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Luna's Test and Measurement Instrument Receives ''R&D 100'' Award for Technical Innovation

Optical Backscatter ReflectometerTM Is the Highest Resolution Optical Time Domain Reflectometer on the Market

Luna's OBRTM acknowledged with
2007 R&D 100 Award.

ROANOKE, Va.--(BUSINESS WIRE)--July 12, 2007--Luna Technologies' Optical Backscatter Reflectometer (OBR(TM)) with distributed sensing has received a 2007 R&D 100 Award from the editors of R&D Magazine as one of the 100 most technologically significant new products introduced into the marketplace in the last year. The R&D 100 Awards were established in 1963 and are judged by a large panel of technical experts that look for breakthrough products or processes that can change or improve people's lives or standard of living, promote good health or a clean up the environment. Often referred to as the "Oscars of Invention," past R&D 100 Awards acknowledgements have included the automated teller machine (ATM), the fax machine, the Nicoderm antismoking patch, and high definition television (HDTV).

"The R&D 100 Award provides a mark of excellence known to industry, government and academia as proof that a product is one of the most innovative of the year across a broad range of technologies," said Brian Soller, VP and General Manager of the Luna Technologies division of Luna Innovations Incorporated. "This is the first year Luna has submitted an award nomination to the R&D 100 and we are honored to have our test and measurement instrument selected as part of this truly elite group."

Luna's OBR has been recognized because it offers unmatched diagnostic capabilities for fiber optic networks and systems. The OBR gives end users a very high resolution view that is similar to an "X-Ray" into the inner workings of a fiber optic network. The OBR also has a feature that allows users to turn standard optical fiber into a continuous thermometer that could be used in a variety of applications including power generation, civil structure monitoring and industrial process control.

An upgraded version of the instrument, the OBR 4400, was announced in March 2007 and further enhanced the capabilities of the ultra-high resolution optical time domain reflectometer (OTDR) in a more compact design and more powerful platform. With an increased range up to 2km and millimeters of resolution, users can monitor the effects from component-level heating in optical amplifiers to strain and load redistribution in aircraft harnesses. Other applications include temperature monitoring inside telecommunications cabinets and enclosures, and a feature that allows users to identify the location in fiber assemblies simply by touching the fiber.

The full list of the 2007 R&D 100 award winners will be published in the September 2007 issue of R&D Magazine.

About Luna Technologies:

Luna Technologies, a division of Luna Innovations Incorporated (NASDAQ:LUNA) located in Blacksburg, Virginia, manufactures and markets test and measurement equipment and integrated sensing solutions. Luna Technologies' products are used for process and control monitoring in telecommunications manufacturing, power generation and distribution, down-hole oil and gas production, aerospace, and defense applications. Its products have won numerous awards and are sold and distributed throughout North America, Europe, the Middle East and Asia. For more information see www.lunatechnologies.com.

Forward Looking Statements:

This release includes information that constitutes "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding the ability to use the OBR(TM) in a variety of industrial applications. Actual results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including risks and uncertainties set forth in the company's periodic reports and other filings with the Securities and Exchange Commission. Such filings are available at the SEC's website at http://www.sec.gov, and at the company's website at http://www.lunainnovations.com. The statements made in this release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward-looking statements after the date of this release.

CONTACT: Luna Innovations Incorporated
Media Contact:
Karin Clark, 540-769-8400
kclark@lunainnovations.com
or
Investor Contact:
Qorvis Communications
Sally Beerbower, 703-744-7800
ir@lunainnovations.com

SOURCE: Luna Innovations Incorporated