LOGIC DEVICES REPORTS SECOND QUARTER OF FISCAL 2002

SUNNYVALE, Calif.--May 14, 2002--LOGIC Devices Incorporated (Nasdaq:LOGC), today reported revenue and earnings for its second quarter of fiscal 2002. Revenues for the fiscal quarter were $1,120,300, a 56% decrease from the $2,539,600 reported in the same quarter of fiscal 2001. The Company's earnings fell from $11,900, or 0.00 per share, for the fiscal 2001 quarter, to a loss of $840,300, or ($0.12) per share, for the fiscal 2002 quarter.

"Unfortunately, the deep down cycle in the semiconductor industry is continuing," stated Bill Volz, president of LOGIC. "Commercial orders have been erratic; up some weeks and down in others. Anticipated military orders have not materialized as of this release date. There has been recent news that HDTV may get a boost, as a result of an agreement among cable operators to begin carrying significant high-definition programming. In addition, digital cinema has received considerable attention pending the release of the new Star Wars Episode Two movie. We are hopeful these recent announcements will lift our commercial revenues as the year progresses."

"While we continue to focus on new product development, we have implemented additional cost cutting to reduce our cash flow requirements during this period of weak sales. During these difficult times, we believe the previous years' difficult decisions, made to strengthen our balance sheet, have served us well," concluded Volz.

"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.

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.