Plastic Logic and Cambridge Display Technology to Cooperate in Polymer Organic Electronics.

Business Editors & High-Tech Writers

CAMBRIDGE, United Kingdom--(BUSINESS WIRE)--March 5, 2002

Plastic Logic, a leading developer of plastic electronics technology and Cambridge Display Technology (CDT), the owner and leading developer of light emitting polymer (LEP) technology, today announced they have signed an agreement to cooperate in polymer organic electronics.

Plastic Logic and CDT have common scientific origins in research on polymer organic electronics carried out in the Cavendish Laboratory of the University of Cambridge. Plastic Logic, founded in 2000, focuses on electronic transistor circuit applications using polymer electronics technology.

CDT, founded in 1992, is facilitating the technology development and full-scale commercialization of LEP technology for electronic displays, general lighting and photovoltaic applications. Both companies make extensive use of organic polymer materials, use common deposition techniques such as inkjet printing and have headquarters in Cambridge.

As part of the agreement, Plastic Logic will receive a non-exclusive license for broad use of CDT's intellectual property in Plastic Logic's core business and CDT will receive a non-exclusive license for broad use of Plastic Logic's intellectual property in CDT's core business.

The agreement also includes the assignment of selected intellectual property by CDT to Plastic Logic. CDT will also become a shareholder in Plastic Logic. The companies will cooperate in certain other undisclosed areas and will continue to work on fundamental polymer research with the Cavendish Laboratory.

"We are very pleased to have reached this agreement with CDT. Over the last decade, CDT has built up a formidable portfolio of intellectual property as the pioneer in polymer technology," said Stuart Evans, chief executive officer of Plastic Logic. "Having access to this will help accelerate the development of the Plastic Logic business."

Polymer electronic devices utilize the unique and diverse nature of organic chemistry to create polymer materials that exhibit the semiconducting properties of conventional silicon technology. Sophisticated semi-conducting, insulating and conducting polymers enable many of the electrical functionalities of silicon without the vacuum deposition and photolithography steps required by silicon electronics manufacturing processes.

Thin-film transistors made with polymer electronics are expected to be used in a wide range of electronics applications, including electronic paper, flat panel displays, electronic tags and labels, smart cards, memory and wearable computing.

"We are currently focused on different markets, but we recognize that Plastic Logic's intellectual property will become increasingly valuable to us and our customers in the years ahead as polymer electronics technology and commercial development matures," said David Fyfe, chief executive officer of CDT. "In addition, we are delighted to become a shareholder in the company."

CDT recently received the "Private Business of the Year" award in the East of England in recognition of the progress made in developing the company in 2001 toward the goal of global commercialization of LEP technology.

Plastic Logic

Plastic Logic was founded in 2000 to develop and exploit new technology and processes that combine the power of electronics with the pervasiveness of printing. The company has a growing portfolio of patents based on inkjet printing of active electronic circuits using advanced plastic materials. This technology has the potential to radically change the economics of key segments of the semiconductor industry.

Flexible substrates become a practical possibility. Capital costs will be significantly lower than for silicon by eliminating conventional photolithography, vacuum processing and high temperatures.

Initial market opportunities include active matrix backplanes for displays and electronic labels -- the natural successor to bar codes and magnetic stripe cards. Plastic Logic is a spinout from the University of Cambridge and is privately held. For further information, visit www.plasticlogic.com.

Cambridge Display Technology (CDT)

CDT is a privately held company leading the research, development and commercialization of polymer technology for flat panel displays and lighting. CDT's light emitting polymer (LEP) technology is targeted for use in a wide range of electronic display products used for information management, communications and entertainment.

Features include reduced power consumption, size, thickness and weight, very wide viewing angle, superior video imaging performance and the potential to produce displays on plastic substrates. To date, licenses have been granted to Delta Electronics, DuPont Displays, OSRAM, Philips and Seiko-Epson, who have either announced imminent start of production or are actively implementing their manufacturing strategies.

CDT is promoting LEP technology development and speeding its commercialization through a global business strategy including co-developments with leading companies in a wide range of display and related technology areas. Founded in 1992, the company has headquarters in Cambridge. For further information, visit www.cdtltd.co.uk.