Robotic Vision Systems, Inc. Says Shareholders Authorize Reverse Split Appeal date set for Nasdaq re-listing NASHUA, N.H., Nov. 11 /PRNewswire-FirstCall/ -- Robotic Vision Systems, Inc. (RVSI) (ROBV.PK, ROBV.OB) today said shareholders had authorized a reverse stock split within a range of one-for-three to one-for-seven. The company also said that Nasdaq has set a December 5, 2003 deadline for submission of materials relating to RVSI's appeal to the Nasdaq Listing and Hearings Review Council for re-listing of the company's stock on the Nasdaq SmallCap market. RVSI's shares were delisted by Nasdaq as of October 28 owning to a failure to file amended quarterly reports with the Securities and Exchange Commission. Those amended quarterly reports were filed on October 31 and RVSI appealed the decision of the Nasdaq Listing Qualifications Panel on November 3. With the filing of the amended 10Q's, RVSI's shares became eligible to trade on the OTC Bulletin Board, and the company has been advised that one or more market markers have filed necessary paperwork with the National Association of Securities Dealers to effect that move. At a meeting today of RVSI's Board of Directors, the company deferred any decision on whether to implement a reverse split until it has clarification of the company's Nasdaq listing status. "The Nasdaq Listing Qualifications Panel originally set a deadline of November 17, 2003 for compliance with the marketplace minimum bid requirement, and the authorization for a reverse split clearly gives us the ability to meet that rule within the time parameter set down by the Panel," said Pat V. Costa, Chairman and CEO of RVSI. "We are prepared to effect that reverse split if it is deemed to be the sole impediment to our being re-listed. Otherwise, we will hold the reverse split authorization in reserve until such time as its use is appropriate." Authorization of the reverse split required an affirmative vote of at least 51% of RVSI's 73.6 million outstanding shares. By the time of the meeting, 61.3 million shares had been cast with 57.0 million, or 77.4% of RVSI's outstanding shares, voting in favor of the reverse split. About RVSI Robotic Vision Systems, Inc. (RVSI) (ROBV.PK, ROBV.OB) has the most comprehensive line of machine vision systems available today. Headquartered in Nashua, New Hampshire, with offices worldwide, RVSI is the world leader in vision-based semiconductor inspection and Data Matrix-based unit-level traceability. Using leading-edge technology, RVSI joins vision-enabled process equipment, high-performance optics, lighting, and advanced hardware and software to assure product quality, identify and track parts, control manufacturing processes, and ultimately enhance profits for companies worldwide. Serving the semiconductor, electronics, aerospace, automotive, pharmaceutical and packaging industries, RVSI holds approximately 100 patents in a broad range of technologies. For more information visit http://www.rvsi.com/ or call (800) 669-5234. Forward Looking Statement Except for the historical information herein, certain matters discussed in this release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to: the historical cyclical nature of the semiconductor industry, risks in products and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, timely development and release of new products, strategic suppliers and customers, the effect of the company's accounting policies and other risk factors detailed in the Company's annual report on Form 10-K, and other filings with the Securities and Exchange Commission. DATASOURCE: Robotic Vision Systems, Inc. CONTACT: Neal H. Sanders of RVSI, +1-781-302-2401 Web site: http://www.rvsi.com/

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