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SUMITOMO CHEMICAL COMPANY, LTD. AND COPYTELE, INC. ANNOUNCE A JOINT COOPERATION AGREEMENT

 HUNTINGTON STATION, N.Y., July 7 /PRNewswire/ -- Sumitomo Chemical Company, Ltd., a major Japanese chemical company, and CopyTele, Inc. (NASDAQ-NMS: COPY), announced today that they have entered into a joint cooperation agreement for the continuation of joint technical and commercial development efforts for potential applications for CopyTele's electrophoretic image display (EPID) flat panel technology. CopyTele noted that Sumitomo Chemical is the major industrial company which is the party to the previously disclosed 1990 multi-step plan.
 The EPID flat panel has characteristics such as a wide viewing angle, high resolution, image retention without refreshing, compact design, an image that is comfortable for viewing by the human eye and low power consumption, and thereby is expected to offer a wide range of potential display applications.
 The new agreement, which supersedes the multi-step plan, sets forth the responsibilities of the companies with respect to two ongoing projects as well as for possible future projects. One of the ongoing projects involves the evaluation of CopyTele's EPID flat panel technology and the associated hardware and software by Alcatel Business Systems, a major French communications systems company for possible use with multi-media telecommunications products under development. With respect to the other ongoing project, Sumitomo Chemical and CopyTele are cooperating to supply EPID flat panels and associated hardware and software to a major consumer electronics company for evaluation in connection with possible applications.
 The new agreement also provides for joint cooperative efforts relating to the production of the EPID flat panels. Sumitomo Chemical and CopyTele have agreed that, subject to further negotiations, at the initial stage of manufacturing, portions of the EPID flat panels will continue to be supplied by Hoya Corporation, a major Japanese high technology manufacturer of glass products, utilizing CopyTele's specifications and technology and/or Sumitomo Chemical's processes.
 Since its formation in 1982, CopyTele has been engaged in the design and development of the EPID and has received and filed for many patents. CopyTele is a high technology-oriented company, staffed with scientists and engineers which include those who previously developed facsimile technology and equipment which was commercialized through several companies including Panafax Corporation.
 Sumitomo Chemical and CopyTele's blend of technologies are complementary and, through this agreement, the companies will continue to cooperate on the further development of technology on EPID structures, fluids, driving methods and production processes, as required by joint projects. The new agreement also sets forth the rights of Sumitomo Chemical and CopyTele with respect to certain proprietary rights relating to the EPID flat panel technology and provides the framework for potential additional joint arrangements for the future development, manufacture and/or marketing of the EPID flat panel and products incorporating the flat panel technology.
 CopyTele is in the process of filing the new agreement with the Securities and Exchange Commission and copies will be available shortly at the SEC in Washington.
 -0- 7/7/93
 /CONTACT: Anne Rotondo of CopyTele, Inc., 516-549-5900/
 (COPY)


CO: CopyTele, Inc.; Sumitomo Chemical Company, Ltd. ST: New York IN: CPR CHM SU:

MP-OS -- NY017 -- 8991 07/07/93 10:10 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
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