Exhibit 99.1

Lumera Closes $1.9 Million Private Equity Financing

    BOTHELL, Wash.--(BUSINESS WIRE)--Aug. 26, 2003--Microvision, Inc.
(Nasdaq:MVIS) and Lumera Corporation, its majority owned subsidiary,
announced today that Lumera closed a $1.89 million preferred stock
financing with both new and existing investors.
    Microvision invested $867,550 in the financing and maintains its
majority ownership in Lumera.
    "This completes the first stage in our strategy to raise capital
to fund our operations through 2004 and beyond," said Tom Mino,
Lumera's CEO. "We continue to actively pursue additional financing
including the sale of additional preferred stock and the potential
investment by strategic partners."
    "Lumera is doing an excellent job in leveraging its platform
technology to identify new markets and we are enthusiastic about the
new product directions Lumera is pursuing," said Microvision CEO Rick
Rutkowski. "We are pleased we were able to make an additional
investment in Lumera while still being in a position to satisfy our
own capital requirements for Microvision's 2003 operating plan. We
believe Lumera is on the right path and we are excited about its
future prospects."

    About Lumera

    Lumera, a majority owned subsidiary of Microvision, Inc., is
developing and commercializing a new class of electro-optic materials
and devices that utilize proprietary polymer compounds and processing
technologies. These new devices and materials are expected to
dramatically improve performance and reduce costs of electro-optic
components for telecommunications, phased array antenna systems,
optical computing, optical signal processing and optical
interconnects. The properties of these materials are also expected to
enable new applications in other technologies such as organic light
emitting diode displays, low k dielectrics and coating materials.
Lumera expects to be able to sell and license its technology in a
variety of forms, including custom polymer materials, coated wafers,
and discrete and integrated component devices, both packaged and
unpackaged. Additional information can be found at Lumera's web site
at http://www.lumera.com.

    About Microvision: www.microvision.com

    Headquartered in Bothell, Wash., Microvision, Inc. is a world
leader in the development of high resolution displays and imaging
systems based on the company's proprietary silicon micromirror
technology. The company's technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
    Microvision has been working with Canon, BMW, the Electronics
Research Lab of Volkswagen of America, Johnson & Johnson's Ethicon
Endo Surgery subsidiary and others to develop a number of display and
image capture product applications based on its proprietary scanned
beam technology.

    Forward Looking Statement

    Certain statements contained in this release, including those
relating to potential additional financings, future business
prospects, expected component performance and cost reduction, enabling
of new applications, development plans and product applications, as
well as statements containing words like "believe," "expect," "plans"
and other similar expressions, are forward-looking statements that
involve a number of risks and uncertainties. Factors that could cause
actual results to differ materially from those projected in the
company's forward-looking statements include the following: market
acceptance of our technologies and products; our ability to obtain
financing; our financial and technical resources relative to those of
our competitors; our ability to keep up with rapid technological
change; government regulation of our technologies; our ability to
enforce our intellectual property rights and protect our proprietary
technologies; the ability to obtain additional contract awards and to
develop partnership opportunities; the timing of commercial product
launches; the ability to achieve key technical milestones in key
products; and other risk factors identified from time to time in the
company's SEC reports, including in its Annual Report on 10-K for the
year ended December 31, 2002 and its Quarterly Reports on Form 10-Q.

    CONTACT: Microvision, Inc.
             Matt Nichols (media), 425-415-6657
             Brian Heagler (investors), 425-415-6794