<PAGE>   1
                                                                    EXHIBIT 99.2

                                  PRESS RELEASE

    ADVANCED LIGHTING TECHNOLOGIES ANNOUNCES SUBSTANTIAL NEW ORDERS FOR DWDM
               FILTERS, ISOFIBER(TM) AND ISOSPHERE(TM) PRODUCTS.

SOLON, OHIO, MARCH 29, 2001 - ADVANCED LIGHTING TECHNOLOGIES, INC. (NASDAQ:
ADLT) today announced that Deposition Sciences, Inc., a wholly-owned subsidiary
of ADLT, has won substantial new orders for DWDM filters and for IsoFiber(TM)and
IsoSphere(TM) products.

DSI had a very successful presence at the Optical Fiber Conference (OFC) in
Anaheim, CA and considerable positive response from the industry to its new
family of Forward Integrated Optical Components. DSI's strategy to rapidly
expand manufacturing capacity for forward integrated micro-optics and DWDM
filters using its patented MicroDyn(R) sputtering technology has met with
significant interest from several industry leaders.

Lee Bartolomei, DSI's President commented, "On average the industry expects
demand for bandwidth to increase at more than 100% per year for at least the
next 10 years. New innovative technologies and state of the art manufacturing
capabilities that provide high quality, low cost optical components for the DWDM
market will be critical to enable that growth."

Commenting further, "DSI's MicroDyn systems have the capability to reduce
manufacturing costs and increase manufacturing capacities for the thin-film
filters that are used in mux/demux applications. We have received our first 200
GHz DWDM filter orders from a major customer and expect filter sales to begin in
April. We remain confident that our DWDM filter strategy, based on our patented
MicroDyn process, will deliver the breakthrough in technology necessary to
enable low cost mass production of advanced DWDM filters and other forward
integrated passive components."

Backlog orders in the telecom product area have reached $4.5 million as of March
28, 2001 up from $2.8 million as of February 28, 2001. Bartolomei continued,
"This increase of $1.7 million in one month is greater than the total last year
sales of $1.5 million. We are very pleased with our progress in developing new
business opportunities for these DWDM components. DSI remains very confident
that the strong demand for our leading-edge optical products and thin-film
filters for the high-growth DWDM market will continue into the future."

Advanced Lighting Technologies, Inc. is an innovation-driven designer,
manufacturer, and marketer of metal halide lighting products, including
materials, system components and systems. The Company also develops,
manufactures and markets passive optical telecommunications devices, components
and equipment based on the optical coating technology of its wholly-owned
subsidiary, Deposition Sciences, Inc.

Except for historical information contained herein, the matters discussed in
this news release are forward-looking statements that involve risks and
uncertainties. As discussed in the Company's SEC filings, covenants in the
Company's bank credit facility, the indenture relating to the Company's 8%
Senior Notes and the Company's agreements with General Electric Company limit
certain corporate actions. As a result, implementation of certain strategic
alternatives relating to the


<PAGE>   2


telecommunications unit may require consent or require replacement of these ADLT
financing sources. The Company has no assurance that such consents or
replacement financing can be obtained in a manner to permit timely
implementation of these strategic alternatives. Other risks and uncertainties
include the timely development and market acceptance of new products, including
production equipment, the ability to provide adequate incentives to retain and
attract key employees, the impact of competitive products and pricing, and other
risks detailed from time-to-time in the Company's EDGAR filings with the
Securities and Exchange Commission. In particular, see "Risk Factors" in the
Company's Form 10-K for the fiscal year ended June 30, 2000. Without limiting
the foregoing, the words "believes," "anticipates," "plans," "expects" and
similar expressions are intended to identify forward-looking statements. The
Company's actual results could differ materially from those anticipated in these
forward-looking statements.

For further information, contact:

Lisa Barry
Advanced Lighting Technologies, Inc.
440/836-7111