Mr. Michel Lafrance reports

OPEL TECHNOLOGIES MAILS PROXY MATERIAL

With respect to Opel Technologies Inc.'s annual and special meeting of shareholders (AGM) to be held in Storrs, Conn., on June 21, 2013, the proxy materials are being sent to shareholders shortly using the notice and access method. As such, registered shareholders should be receiving a proxy by mail and non-registered shareholders should be receiving a voting instruction form. Copies of the proxy material, which includes the notice and information circular booklet, will be filed on SEDAR and will also be available for download from the company's website. Shareholders will be able to obtain a printed copy by contacting the secretary of the company or Equity Financial Services Inc.

In addition to the usual matters to be presented at the AGM, including the appointment of the auditor and election of directors, shareholders will be asked to consider an ordinary resolution to approve the 2013 stock option plan, an ordinary resolution to approve a new bylaw No. 1 and special resolution authorizing, subject to regulatory approval, the change in the name of the company to POET Technolgies Inc. The purpose of the bylaw change is to incorporate the notice and access process for delivering shareholder materials recently authorized by the Canadian Securities Administrators CSA) and to provide for an advance-notice requirement for shareholders to nominate directors.

The CSA amendments to authorize notice and access were implemented by the CSA to modernize and enhance communication between reporting issuers and their shareholders by allowing greater use of the Internet for delivering proxy-related materials, and to increase the efficiencies of the proxy voting process by reducing the volume of documents sent to shareholders. These amendments are not only environmentally friendly by reducing the amount of paper waste, but will result in substantial savings to the company in printing and mailing costs.

The advance-notice policy, which is similar to that currently being established by many other companies, is for the purpose of providing shareholders, directors and management of the company with a clear framework for nominating directors. The advance-notice policy is meant to: (i) facilitate an orderly and efficient process for annual general meetings or, where the need arises, special meetings of shareholders; (ii) ensure all shareholders receive adequate notice of the director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote with respect to director nominations, having been afforded reasonable time for appropriate deliberation.

The purpose of the name change is to better reflect the company's business and highlight the POET technology. The proposed name change is also consistent with management's focus on its efforts to monetize the POET technology.

The directors have approved these proposed changes as they believe they are in the best interests of the shareholders. The board has also adopted a policy for majority voting for election of directors, as disclosed in the information circular. This policy does not apply in circumstances involving contested director elections.

Non-registered shareholders wishing to attend the AGM and vote in person must appoint themselves as proxyholder and submit their voting instruction form at least 48 hours before the meeting.

Following the AGM, shareholders will, again this year, be provided with the opportunity to tour the ODIS laboratory facility showcasing the intricacy of the POET breakthrough technology.

If you plan to attend the AGM and wish to stay overnight at the Nathan Hale Inn, please call it directly to make a reservation (telephone: 860-427-7888). There are a limited number of rooms being held for OPEL shareholders. Identify yourself as part of the OPEL group to receive the reduced rate being offered on a first-come-first-serve basis.