LOGIC Devices Board of Directors Approves Rights Agreement Exemption

SUNNYVALE, Calif.--Sept. 3, 2002--LOGIC Devices Incorporated (Nasdaq: LOGC - News), today announced that, on August 26, 2002, its Board of Directors approved an exemption for Mr. William J. Volz from being an "acquiring person," as defined in Section 1(a)(iii) of the shareholder Rights Agreement dated April 30, 1997, with respect to any transactions by him of LOGIC Devices stock. The four non-employee directors all voted for approval of the exemption, while Mr. Volz abstained from the vote.
Established in 1983, LOGIC Devices is a fabless semiconductor manufacturer providing high-performance, function-specific integrated circuits that are utilized in smart weapons systems and in broadcast studio, medical imaging, and digital telecommunications equipment.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements in this press release regarding expectations of future events are "forward-looking statements" involving risks and uncertainties, including, but not limited to, market acceptance risks, the effect of economic conditions and shifts in supply and demand, the impact of competitive products and pricing, product development, commercialization and technological difficulties, availability of capital, and capacity and supply constraints. Please refer to the Management Discussion and Analysis of Financial Condition and Results of Operations (MD&A) for a discussion of risks in the most recent LOGIC Devices Annual Report on Form 10-K and the quarterly report under Form 10-Q.

Editorial Contact:
LOGIC Devices Incorporated
Kimiko Lauris, (408) 542-5400 (CFO)