EXHIBIT 1

                                    EXHIBIT 1


                               Page 15 of 34 Pages



                                                                       Exhibit 1


                                    AGREEMENT


                  The undersigned hereby agree that this statement on Schedule
13D with respect to the beneficial ownership of shares of Common Stock of AXSYS
Technologies, Inc. is filed jointly, on behalf of each of them.


Dated:   December 18, 1997

                                          /s/ Xxxx X. Xxxxxx
                                          ------------------------------------
                                                    Xxxx X. Xxxxxx


                                          NETWORK FUND III, LTD.

                                          By:      XXXXXX MANAGEMENT COMPANY,
                                                   Investment Advisor


                                                   By:  /s/ Xxxx X. Xxxxxx
                                                        ----------------------
                                                        Name: Xxxx X. Xxxxxx
                                                        Title: President


                                          NETWORK IV LLC

                                          By:      XXXXXX MANAGEMENT COMPANY,
                                                   Investment Advisor


                                                   By:  /s/ Xxxx X. Xxxxxx
                                                        ----------------------
                                                        Name: Xxxx X. Xxxxxx
                                                        Title: President


                               Page 16 of 34 Pages