Isoclima S.p.A Joins Growing List of Research Frontiers' Smart Window Licensees

    PADUA, Italy & WOODBURY, N.Y.--March 11, 2002--Isoclima S.p.A. has acquired a worldwide (except Korea) non-exclusive license from Research Frontiers Incorporated to manufacture smart window products using Research Frontiers' fast-responding suspended particle device (SPD) light-control film technology.
    For architectural applications, the license covers such products as windows, skylights and partitions. The license also covers automotive applications, including windows for various transportation vehicles such as cars, recreational vehicles, trucks, boats, and trains, but excludes windows for aircraft and spacecraft.
    With SPD-Smart(TM) windows, you can instantly and precisely control the amount of light and glare coming into a home, office, or vehicle by adjusting the light transmission of the SPD film used in these products. Light and glare adjustment can be either automatic (using an ordinary photocell or other sensing device) or can be done manually by simply turning a knob.
    "We have worked other types of switchable glass technologies such as liquid crystals and electrochromics, and believe that SPD technology will offer better performance at a more affordable price. We look forward to working with Research Frontiers and its supplier licensees to offer innovative SPD smart windows to our customers," noted Alberto Bertolini, General Manager of Isoclima.

    About Isoclima S.p.A

    Isoclima S.p.A., employs 430 people and reported annual sales for 2000 of approximately 89.3 million Euros ($78.3 million). With expertise in high-tech and specialty glass and plastic, Isoclima produces high-end quality products for the automotive, building, aerospace, railway and marine markets. Isoclima has over 1.2 million square feet of manufacturing facilities in nine factories located in Italy, Mexico and Croatia which produce curved and flat laminated, impact resistant, bulletresistant, and other specialty glass products. Isoclima is ISO 9001 certified and is part of the Finind Group. Additional information about Isoclima may be found on the Internet at http://www.isoclima.net.

    About SPD Technology and Research Frontiers Incorporated

    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 allows you to instantly and precisely control how clear or dark glass or plastic is, and adjust its light transmission by either turning a knob to control the applied voltage or having the device automatically adjust itself by means of a photocell or other sensing or control device. This is made possible by a thin flexible film which uses SPD light-control technology invented by Research Frontiers.
    SPD technology has many applications, including SPD-Smart(TM) windows and sunshades for homes and buildings, skylights and interior partitions. A smart window product using SPD film provides 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. In automotive vehicles, SPD-SmartTM products can include windows, sunroofs, sunvisors, sunshades, rear-view mirrors, instrument panels and navigation systems. In aircraft, replacing existing window shades with SPD film can improve passenger satisfaction and comfort, while also reducing fuel consumption, maintenance, downtime and cost of operation. SPD-Smart(TM) eyewear products - sunglasses, sport goggles such as ski goggles, and visors - will continuously and instantly control glare to the degree needed.
    In an SPD display, electronic drivers will selectively "address" (open and close) tiny segments of the SPD film. SPDs may be used to make brighter, easier-to-read screens in products such as laptop computers, cell phones, and handheld devices such as PDAs - Personal Digital Assistants. In advertising, promotion, and retail sales environments, SPD displays offer display advertising advantages, bringing large, thin, flexible yet changeable displays to stores, store windows, point-of-purchase displays, billboards, truck sidings, road signs, and other signage applications.
    SPD technology is covered by approximately 365 patents and patent applications held by Research Frontiers worldwide. As part of a global infrastructure, Research Frontiers has licensed the following fifteen companies to use its patented SPD light-control technology in emulsions, film, or end-products: AP Technoglass; Avery Dennison Corporation; BOS GmbH & Co. KG, Dainippon Ink and Chemicals Incorporated; Film Technologies International, Inc.; General Electric Company; Glaverbel, SA; Global Mirror GmbH & Co. KG (Lang-Mekra); Hankuk Glass Industries Inc.; Hitachi Chemical Co., Ltd.; InspecTech Aero Service, Inc.; Isoclima S.p.A.; N.V. Bekaert S.A.; Polaroid Corporation; and ThermoView Industries, Inc. 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. Additional information about Research Frontiers and its licensees can be found on the Internet at http://www.refr-spd.com. Research Frontiers' common stock trades on the Nasdaq National Market under the symbol "REFR."
    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. SPD-Smart(TM) and Powered by SPD(TM) are trademarks of Research Frontiers Incorporated.