FARO Technologies Joins Russell 3000(R) Index

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LAKE MARY, Fla., Jul 7, 2004 /PRNewswire-FirstCall via COMTEX/ -- FARO Technologies, Inc. (Nasdaq: FARO) has joined the Russell 3000(R) Index, according to the final list of additions posted on July 6 by Russell Investment Group. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000(R) Index or small-cap Russell 2000(R) Index.

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"We are very pleased to be included in the Russell 3000 index, which raises our visibility within the investment community," said Greg Fraser, Executive Vice President and Chief Financial Officer. "It represents a meaningful acknowledgement of the growth of our business, and the market's valuation of our prospects."

Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. More than $360 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.

Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.

FARO Technologies, Inc. (Nasdaq: FARO) and its international subsidiaries design, develop, and market software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three- dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity and profitability for a variety of industries in FARO's worldwide customer base. Learn more at http://www.faro.com.

Russell, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $107 billion in assets and advises clients worldwide representing $1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to http://www.russell.com.

SOURCE FARO Technologies, Inc.

Greg Fraser, EVP & CFO, FARO Technologies, Inc.,
+1-407-333-9911; or Vic Allgeier, The TTC Group, +1-212-227-0997
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http://www.faro.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding FARO Technologies Inc's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.