LOGIC DEVICES REPORTS SECOND QUARTER OF FISCAL 2003

SUNNYVALE, Calif. (May 12, 2003) – LOGIC Devices Incorporated (Nasdaq: LOGC), today reported revenue and earnings for its second quarter of fiscal 2003. Revenues for the fiscal quarter were $1,366,200, a 22% increase from the $1,120,300 reported for the second quarter of fiscal 2002. The Company lost $445,400, or ($0.07) per share, which is 47% less than the $840,300 loss, or ($0.12) per share, recorded in the 2002 quarter, and is 39% less than the $725,500,or ($0.11) per share in the immediately preceding fiscal quarter ended December 30, 2002.

" While the general semiconductor industry remains in the longest down-cycle in its history, LOGIC experienced a modest increase in its commercial product billings during the quarter," stated Bill Volz, president of LOGIC Devices. "Coupled with cost-cutting initiatives, this had a significant impact on improving our bottom line."

" Although we reported a loss for the quarter, LOGIC continues to maintain a very strong balance sheet and to generate good cash flow," continued Volz. "With the availability of many highlyqualified individuals currently in the job market, we have been selectively adding to our product development team. While times continue to be difficult, we believe our upcoming new product introductions, coupled with our cost controls, position LOGIC to grow in this adverse environment," 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.