Topcon Corporation (TOPCON), the world's leading supplier of surveying, laser and machine control systems, today announced the acquisition of Javad Positioning Systems (JPS) of San Jose, California. Financial terms of the transaction were not disclosed.

JPS is a leading provider of high precision GPS and GPS/GLONASS products, with offices in San Jose, California, and Moscow, Russia. This operation was

owned and led by Dr. Javad Ashjaee, one of the original pioneers in the GPS industry. Dr. Ashjaee will join Topcon as Chief Technology Officer (CTO) for this business unit.

"Topcon's goal is to provide the construction, land surveying and GIS industries with the most advanced, complete and affordable positioning instrumentation available on the market," stated Bob Iguchi, Chairman of the newly formed Topcon Positioning Systems, Inc. "After more than 10 years of trial and error in trying to find cutting edge technology, we are now confident that we have achieved our objectives. Our team of experts researched extensively all brands of GPS products, and found that JPS' technology is undeniably the most advanced in the world. JPS has invented ways of using GPS that were never considered possible just a couple of years ago. With the addition of JPS and my very dear friend, Javad, into the Topcon family, we are positioned to continue our leadership for the new millennium."

"During the past 20 years, developing the most advanced GPS technology was not only my job, but my passion. Joining Topcon is the new era of my professional life that will provide me the joy of helping to leverage GPS with construction lasers, machine control and optical technologies, in which Topcon is undoubtedly the world leader," stated Dr. Ashjaee. "Over the past several years I've watched my good and dear friend Bob Iguchi continue to lead Topcon to the pinnacle of this industry and I knew by joining his team, together we would ignite the next stage of the positioning instrument world."

To leverage the technology of JPS into consumer markets, Javad and Topcon will jointly form a new company in the near future.

"Having the world's best GPS and GPS/GLONASS technology coupled with the world's most advanced surveying and construction instrument line-up is a very powerful combination when considering our strategy," stated Ray O'Connor, Executive Vice President for the newly formed Topcon Positioning Systems, Inc. "Our plan for JPS is to focus on gearing up the company to meet the new growth demands with a goal of maximizing the strengths that JPS has created in the marketplace with its products, web-based management system and strong stable of professional dealers. Where it is complimentary, we will utilize the worldwide Topcon organization to further strengthen our position in the market." O'Connor goes on to say, "Our goal has been very simple from the beginning -- automation of the largest manufacturing industries in the world, construction and agriculture. The acquisition of JPS gives us another critical piece of this total solution."

About Topcon Corporation
Topcon Corporation, with 70 years of experience and over 300 active patents in the U.S. alone, is the world's leading manufacturer of high-precision surveying instruments, industrial precision instruments and related equipment serving professional land surveyors, civil engineers and the construction industry, as well as professionals in the field of ophthalmic medicine. The company has developed a new technology known as optomechatronics -- combining elements from advanced optics, electronics and precision equipment processing -- to create many lines of new products. The Topcon name carries a reputation of integrity and products of the highest quality, receiving ISO 9001 certification for both its survey and medical divisions.

Topcon has revenues of over $600 million annually and employs over 3,000 people worldwide with 14 domestic subsidiaries, and 26 overseas sales and manufacturing subsidiaries.

Topcon Corporation: www.topcon.co.jp
Topcon Laser Systems, Inc.: www.topconlaser.com
Topcon America Corp.: www.topcon.com

About Javad Positioning Systems
Founded by Dr. Javad Ashjaee, one of the leading pioneers of the GPS industry, JPS has the strongest GPS R&D team in the world. In its young history, JPS has produced unique leaps in the GPS world with such innovations as Co-op Tracking, In-Band Interference Rejection, and Low Signal Tracking.

The business model of JPS and its web-based management helped the company to be dynamic, efficient, and very responsive to their customer needs. These successes are reflected in thousands of satisfied customers and healthy profits.

JPS employs over 120 world-class scientists and engineers. Their products are manufactured in the San Jose facility of SMTC (Nasdaq: SMTX), one of the leading turnkey electronic manufacturers with nine locations worldwide.

Javad Positioning Systems: www.javad.com