RNS Number:5693M
Applied Optical Technologies PLC
20 June 2003


APPLIED OPTICAL TECHNOLOGIES PLC

AWARDS UNDER LONG TERM INCENTIVE SCHEME


Applied Optical Technologies PLC announces that it has today made initial awards
of 185,000 ordinary shares of 5p each under the Company's Long Term Incentive
Scheme. The awards are conditional upon growth in the Company's reported
earnings per share (adjusted for the effects of goodwill, exceptional items and
amounts written off investments) being equal to or greater than the sum of the
retail price index measure of inflation (RPI) plus 15 per cent over the three
years ending 31 March 2006.


As the Company recorded a loss per share for the year ended 31 March 2003 (being
the base point for the assessment of these awards) the base EPS will be taken as
Brewin Dolphin Securities' forecast EPS for the year ended 31 March 2004
discounted by the RPI for that year plus 5 per cent.


Directors Mark Turnage, Mike Angus and Peter Emerson have been
granted initial awards of 25,000, 20,000 and 15,000 shares respectively. In
addition, Rick Salomone whose appointment as a Director will become effective on
14 August has been granted an initial award of 15,000 shares.


For information please contact: Mike Angus

Tel: 0191 419 3344



20 June 2003







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