CONTACT:  Lynn O'Mara
                      Irvine Sensors Corporation
                      714-444-8718
                      lomara@irvine-sensors.com

COSTA MESA, CALIFORNIA - June 6, 2001 -- Irvine Sensors Corporation (NASDAQ: IRSN, Boston Stock Exchange: ISC) announced today that it has secured a strategic financing relationship with Zimmer Lucas Partners, LLC, and Vertical Ventures LLC, both of New York City, intended to "bridge" the period required to substantially fund its iNetWorks Corporation subsidiary. Pursuant to this relationship, the Company has executed an initial financing consisting of the sale of common stock and warrants from its outstanding "shelf" registration for gross proceeds of $1.6 million.

Mel R. Brashears, Chairman of the Board of both Irvine Sensors and iNetWorks, said, "We have been deeply immersed in the due diligence associated with the funding of iNetWorks for the development of our SuperRouter™. As part of that process, we have secured a commitment for necessary bridge funding to be funneled through Irvine Sensors. The investors involved are sophisticated high technology specialists that have done their homework and have substantial collateral relationships that we believe will be beneficial. They are fundamentally committed to Irvine Sensors, and are available for additional financing, as we need it. We have elected to do an initial funding against this commitment now to maintain development momentum on long lead-time issues while the larger financing negotiations evolve."

"In addition, with this commitment in hand from long-term investors, we have more degrees of freedom to protect the interests of all stockholders as it relates to the price of our stock. We believe that the present market activity does not reflect the fundamentals of the Company, which are better today than they were when our stock was at substantially higher values," Brashears concluded.

Irvine Sensors Corporation, headquartered in Costa Mesa, California, is primarily engaged in the development of high density electronics, MicroElectroMechanical sensors (MEMS) and readout circuits, miniature cameras, electro-optical and optical switches, image processing devices and software, electronic image stabilization, wireless infrared communications products, and low-power analog and mixed-signal integrated circuits for diverse systems applications. It primarily seeks to commercialize its technologies through independently financed and managed subsidiaries.

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are dependent on risks and uncertainties including such factors, among others, as the ability of the Company to control and further reduce its operating expense, the technological risk in new products and the impact of competition. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Further information on the Company's status and the matters discussed herein are contained in publicly-filed disclosures available through the SEC's EDGAR data base (www.sec.gov) or the Company's Shareholder Relations.