updated 11/17/2010 8:16:24 AM ET 2010-11-17T13:16:24

BOSTON, Nov. 17, 2010 (GLOBE NEWSWIRE) -- A Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Reimbursement of Expenses, and Settlement Fairness Hearing has been issued in a litigation brought against GSI Group Inc.

UNITED STATES DISTRICT COURT FOR THE DISTRICT COURT OF MASSACHUSETTS

WILTOLD TRZECIAKOWSKI, Individually and On Behalf of All Others Similarly Situated, Plaintiff,

v.

GSI GROUP INC., SERGIO EDELSTEIN and ROBERT BOWEN, Defendants.

NO. 08-CV-12065-GAO

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION

TO:      ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF GSI GROUP INC. BETWEEN FEBRUARY 27, 2007 AND JUNE 30, 2009, INCLUSIVE, AND WHO WERE DAMAGED THEREBY (THE "CLASS").

YOU ARE HEREBY NOTIFIED that this Class Action is pending and that a settlement of it for Three Million Two-Hundred and Fifty Thousand Dollars ($3,250,000) has been proposed. A hearing will be held before the Honorable George A. O'Toole, Jr. in the United States District Court for the District of Massachusetts in Courtroom 9, 1 Courthouse Way, Boston, Massachusetts, 02210, at 2:00 p.m., on February 16, 2011 to determine whether: (1) the proposed settlement should be approved by the Court as fair, reasonable and adequate; (2) Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses, and a case contribution payment to the Lead Plaintiff, should be approved; and (3) the claims against Defendants should be dismissed with prejudice.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Reimbursement of Expenses and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim") you may obtain copies of these documents by contacting:

Inquiries, other than requests for the Notice and Proof of Claim, may be made to Lead Counsel:

To participate in the Settlement, you must submit a Proof of Claim no later than March 11, 2011. As more fully described in the Notice, the deadline for submitting objections to the Settlement and requests for exclusions from the Class is February 2, 2011; they must be received by this date.

Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Strategic Claims Services, at the address listed above. Please do not contact the Court.

BY ORDER OF THE COURT.

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