AP Technoglass Acquires License From Research Frontiers to Manufacture and Supply Variable Light Transmission Sunroof Glass.

Business Editors

WOODBURY, N.Y. & FLORENCE, Ky.--(BUSINESS WIRE)--Feb. 20, 2001

Research Frontiers Incorporated (Nasdaq:REFR), the developer and licensor of fast-responding SPD light-control technology, and AP Technoglass, North America's leading sunroof glass producer and a subsidiary of Asahi Glass Co. Ltd. of Japan, announced today that AP Technoglass has acquired from Research Frontiers a worldwide non-exclusive license to manufacture and sell suspended particle device (SPD) sunroof glass for use in variable light transmission sunroofs produced by licensees of Research Frontiers.

In an SPD "smart" sunroof, you can instantly and precisely control how dark the sunroof glass is, and adjust its light transmission by either turning a knob or having the sunroof automatically adjust itself. This is made possible by a thin film inside the sunroof glass which uses SPD light-control technology invented by Research Frontiers. SPD technology is licensed to a growing number of companies in various industries, and is covered by more than 350 patents and patent applications held by Research Frontiers worldwide.

"Car and truck manufacturers and designers desire to use more glass in their roof systems. SPD technology offers the most effective solution for the need to control glare and solar gain within the vehicle as the percentage of glass incorporated into the roof of a car or truck increases. It will also enhance the comfort of occupants in these vehicles and will also add value each step of the way," noted Douglas D. Nouse, AP Technoglass' Vice President of Business Planning. "As North America's leading sunroof glass supplier, we supply automotive glass to the world's leading auto and sunroof manufacturers and offer our customers the latest in product innovations and quality. We look forward to working with Research Frontiers and its licensees to develop and market SPD variable light transmission sunroof glass to our customers in the automotive industry."

Independent market research has found that some prospective SPD "end-product" licensees, such as sunroof manufacturers or window manufacturers, would value highly the option of purchasing a glass or plastic product component with SPD film already affixed to it. They would receive a component which is made to their specifications and which already incorporates the SPD light control feature, and then simply fabricate an SPD end-product around it. AP Technoglass, as an SPD sunroof glass supplier licensee, provides this important function to SPD sunroof manufacturers who are, or who become, end-product licensees of Research Frontiers.

John Tobias, Director of Automotive Marketing for Research Frontiers, noted: "In 2000 there were an estimated 6.2 million sunroofs manufactured globally, or 11.6% of the estimated 53.8 million cars and SUVs produced annually. Sunroof penetration rates have been growing steadily, and some industry leaders expect the percentage of vehicles with sunroofs to grow to 50% over the course of the current decade. SPD "smart" sunroofs can help fuel this explosive growth by making sunroofs more functional than they currently are and will also enable more efficient and sophisticated vehicle designs."

Research Frontiers' suspended particle device (SPD) technology for controlling light has numerous applications in automotive vehicles, including "smart" windows, sunroofs, sunvisors, rear-view mirrors, instrument panels and navigation systems. Architectural applications for SPD light-control technology include smart windows for homes and buildings, skylights and interior partitions. A smart window using SPD film enables users to instantly and precisely control the amount of light passing through the window, providing relief from glare or heat without blocking view, while also enabling privacy whenever desired, protection from UV damage, promotion of energy conservation, and other benefits. SPD products can be controlled either automatically (by means of a photocell or other sensing or control device) or adjusted manually by the user by turning a knob. SPD eyewear products -- sunglasses, sport goggles such as ski goggles, and visors -- will continuously and instantly control glare to the degree needed. In the flat panel display industry, SPDs may be used in products such as laptop computers, cell phones, and handheld devices such as PDAs -- Personal Digital Assistants, with significant performance and cost advantages over current technologies.

About AP Technoglass Company

AP Technoglass is one of America's fastest growing automotive glass suppliers, the country's first automotive glass company to receive the ISO 14001 certification, and is also ISO9000 and QS9001 certified. AP Technoglass is the leading automotive glass and sunroof glass supplier in North America. AP Technoglass' products include laminated windshields, tempered sunroofs, and tempered windows for automotive vehicles. AP Technoglass is also the primary supplier of glass products to the world's leading automotive manufacturers including DaimlerChrysler, Ford, General Motors, Honda, Isuzu, Mitsubishi Motors, Nissan, NUMMI, Saturn, Subaru, Suzuki, and Toyota. AP Technoglass also supplies the world's leading sunroof manufacturers. Headquartered in Florence, Ky., AP Technoglass has facilities in Bellefontaine, Ohio, and Elizabethtown, Ky., as well as in Mexico, and is a subsidiary of Asahi Glass Company, Ltd. of Japan, the world's largest automotive glass supplier. Additional information about AP Technoglass can be found on the Internet at http://www.aptechnoglass.com.

About Research Frontiers Incorporated

Research Frontiers has licensed the following companies to use its patented suspended particle device (SPD) light-control technology in emulsions, film, or end-products:

-- AP Technoglass -- North America's leading automotive glass and sunroof glass
supplier and a subsidiary of Asahi Glass Co., Ltd., the world's largest
automotive glass supplier;

-- Dainippon Ink and Chemicals Incorporated -- the world's largest manufacturer
of organic pigments;

-- General Electric Company (NYSE:GE);

-- Glaverbel, SA of Belgium -- majority-owned by Asahi Glass Co., Ltd., the
world's largest automotive glass supplier;

-- Global Mirror GmbH & Co. KG -- the world's largest manufacturer of
commercial vehicle mirror systems;

-- Hankuk Glass Industries Inc. -- Asia's largest flat glass producer (outside
of Japan);

-- Hitachi Chemical Co., Ltd. -- majority-owned and part of Hitachi Ltd.;

-- Material Sciences Corporation -- the world's second-largest producer of
specialty window films (NYSE:MSC);

-- Polaroid Corporation -- the worldwide leader in instant imaging and a
supplier of instant photographic cameras and films; digital imaging hardware,
software and media; secure identification systems; and sunglasses to markets
worldwide (NYSE:PRD);

-- ThermoView Industries, Inc. -- a leading integrator of businesses and
technologies within the replacement window industry (AMEX:THV);

-- Vision Ease Lens -- the world's largest producer of polycarbonate lenses
which is owned by BMC Industries, Inc. (NYSE:BMC)

Research Frontiers is a technological leader in the development and licensing of suspended particle devices (SPDs) -- electrically operated light-control devices using proprietary particle suspensions and films. SPD technology permits light transmission to be electrically controlled instantly, either automatically (by means of a photocell or other sensing or control device) or adjusted manually by the user. Research Frontiers' proprietary SPD technology enables users to control the amount of light passing through windows, skylights, eyewear (including prescription and non-prescription sunglasses and sports goggles), automotive sunroofs, sunvisors and rear-view mirrors, as well as enabling brighter easier to read flat panel information displays for use in computers, television, telephones and other electronic instruments and products. Research Frontiers currently has agreements in effect covering smart windows, automotive mirrors and sunvisors, eyewear, displays and other products with major international corporations and holds or has rights in over 350 patents and patent applications on SPD technology throughout the world. Licensees of Research Frontiers who incorporate SPD technology into end products will pay Research Frontiers a royalty of 5-10% of net sales of licensed products under license agreements currently in effect. Research Frontiers' common stock trades on the Nasdaq National Market under the symbol "REFR." Additional information about Research Frontiers can be found on the Internet at http://www.refr-spd.com.

Note: From time to time the Company may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ and are not guaranteed. Any forward-looking statements should be considered accordingly.