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RESEARCH FRONTIERS SIGNS OPTION-LICENSE AGREEMENT FOR TRANSPORTATION VEHICLE 'SMART' WINDOWS WITH GLAVERBEL

 RESEARCH FRONTIERS SIGNS OPTION-LICENSE AGREEMENT
 FOR TRANSPORTATION VEHICLE 'SMART' WINDOWS WITH GLAVERBEL
 WOODBURY, N.Y., June 12 /PRNewswire/ -- Research Frontiers Incorporated (NASDAQ: REFR, REFRW; BSE: RFR, RFRW) announced today prior to its annual meeting of stockholders that the company has signed an option-license agreement with its licensee, Glaverbel, S.A., one of Europe's largest manufacturers of flat glass.
 The new agreement, which is effective as of June 10, 1992, gives Glaverbel the option through Dec. 31, 1993, to enter into a license agreement with the company which covers the manufacture and sale in Europe of windows (including sunroofs) for non-military transportation vehicles using Research Frontiers' variable light transmission technology. Variable light transmission windows are also generally referred to as "smart" windows. If Glaverbel exercises the option and enters into the license agreement, Glaverbel will pay Research Frontiers a royalty of five percent of net sales of licensed products and a minimum royalty of $150,000 each year. Glaverbel is paying a $90,000 option fee to Research Frontiers which may be credited against future earned royalties. If the license agreement goes into effect, Glaverbel will also receive a further option through Dec. 31, 1994, to increase the territorial scope of the agreement to include all countries of the world except Korea. If this further option is exercised, the minimum royalty payable to Research Frontiers will increase to $250,000 per year in 1995 and to $375,000 per year thereafter.
 According to Bob Saxe, president of Research Frontiers, the company estimates that 1992 worldwide sales of ordinary windows for non-military transportation vehicles should be on the order of 500 million square feet. The potential market for "smart" transportation vehicle windows is unknown. However, assuming successful commercialization of its "smart" windows, Saxe estimates that such windows for transportation vehicles will generally sell in the range of $25-$200 per window depending on window size, style and functions provided. Windows for automobiles, buses, air and space craft, trains and ships are all potential markets for this technology.
 On April 24, 1992, Research Frontiers announced that it had licensed Glaverbel to manufacture and sell self-dimmable automotive rear-view mirrors. Since then, the company has completed initial training of Glaverbel personnel relating to the company's light control technology.
 Glaverbel, S.A., a Belgium corporation, is a member of the Glaverbel Group, the third largest manufacturer of flat glass in Europe. The Glaverbel Group employs 10,000 people worldwide and had reported 1991 revenues of about 30 billion Belgian francs (approximately U.S. $874 million). Glaverbel is controlled by Asahi Glass Company, Ltd., the largest flat glass manufacturer in Japan and the world's leading manufacturer of automotive glass.
 -0- 6/11/92
 /CONTACT: Robert L. Saxe, president, or Patricia A. Bryant, manager of investor relations, of Research Frontiers, 516-364-1902/
 (REFR) CO: Research Frontiers Incorporated ST: New York IN: AUT SU:


KD -- NY004 -- 9517 06/12/92 07:55 EDT
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Publication:PR Newswire
Date:Jun 12, 1992
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