McNamee, Lochner, Titus & Williams, P.C. obtains global settlement for local technology company, X-Ray Optical Systems, Inc. ("XOS")

Albany, New York (December 29, 2008) — McNamee, Lochner, Titus & Williams, P.C. reached a settlement in the U.S. District Court for the Northern District of New York on behalf of its client, X-Ray Optical Systems, Inc. ("XOS"), a world leader in x-ray optics and optic-enabled analyzers. Founded in 1990, XOS designs, manufactures, and markets x-ray optics and application-specific x-ray analyzers for a range of markets including industrial, medical, petroleum, and pharmaceutics. XOS has established direct sales, distribution, and service channels throughout the world.

On December 20, 2007, X-Ray Optical Systems, Inc. (XOS) filed suit against Dr. Muradin Kumakhov, a Russian scientist who participated in founding XOS and who made some early contributions. The suit was a culmination of years of various proceedings between the parties. The parties globally settled their disputes with the court's assistance and issued the following joint statement:

"X-Ray Optical Systems, Inc. ("XOS") and Dr. Muradin Kumakhov are pleased to announce a global settlement of their differences, including the transfer of Dr. Kumakhov's interest in XOS to the company. XOS and Dr. Kumakhov have agreed to withdraw all pending litigations and put measures in place to limit future disputes between them.

David Gibson, President of XOS, stated "We are pleased to resolve this matter in a manner that is acceptable to all parties. XOS regrets any past disagreements with Dr. Kumakhov. XOS is proud of its past affiliation with Dr. Kumakhov and looks forward to putting past differences behind the parties so that XOS may focus on its underlying business."

Dr. Kumakhov, through a translator, stated "I am pleased to have the opportunity to settle my differences with XOS. I have conveyed my regrets for any past disagreements with XOS and wish them success in their future endeavors.""

The McNamee litigation team was led by Christopher Massaroni (chairman of the firm's commercial litigation practice group) and also included partner Richard A. Langer (partner in the firm's corporate and taxation law practice groups) and Mathew P. Barry (associate in the firm's commercial litigation practice group). This team brought to the project a great depth of experience in the litigation of corporate disputes, including those involving claims of shareholders and intellectual property issues.

The McNamee firm was assisted by XOS' in-house legal team, which includes General Counsel Jeff Klembczyk, an experienced international intellectual property and litigation specialist, and Karen Horth, an associate intellectual property attorney.