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Research Frontiers' Licensees Launch New Marketing Programs Resulting in Accelerating Sales of SPD-Smart Products

    WOODBURY, N.Y.--July 19, 2002--Research Frontiers Incorporated , the developer and licensor of SPD-Smart(TM) light-control technology, is pleased to report better-than-expected results from recently launched marketing campaigns by its licensees, as well as accelerated progress by its SPD emulsion and film licensees.
    On Monday, ThermoView Industries (AMEX: THV), a leading national home improvement company and a licensee of Research Frontiers, launched its national roll-out of its marketing campaign for its Alter-Lite(TM) SPD-Smart windows. Although their product launch is only four days old, with the first major public event scheduled to occur this weekend in Santa Ana, California, ThermoView is already working with customers on several dozen projects to install ThermoView's Alter-Lite SPD-Smart windows. ThermoView, with locations in 16 states, began it's product launch in California, and will be selling its Alter-Lite SPD-Smart windows nationwide. More information about these "smart" windows can be found by contacting ThermoView or visiting their web site (www.thermoviewinc.com) and can also be seen at various exhibits in California during July and August in Santa Ana, San Diego, Long Beach, Anaheim and San Marcos.
    Research Frontiers' licensee for SPD-Smart aircraft windows, InspecTech Aero Service Inc., also reports excellent customer response to its new marketing campaign launched last week. This program targets over 15,000 owners of various private aircraft models which InspecTech has already completed their design and engineering for. This month, InspecTech will be delivering SPD aircraft windows to customers for various new aircraft models including the King Air F-90 and Hawker 800A and ordering several hundred windows to fill these and other orders, and to maintain an in-stock inventory of their most popular types of SPD jet and helicopter windows. These and other SPD aircraft windows are installed by InspecTech and by their various authorized completion centers. This month, portable product demonstration kits were also delivered by InspecTech to various aircraft OEMs, completion centers, pilots and owners. Additional information about InspecTech's SPD aircraft windows can be obtained by contacting them or visiting their web site (http://www.inspectech.net).
    SPD Systems, Inc. recently exhibited, in conjunction with Zeluck Windows, SPD-Smart windows at the Pacific Coast Home Builders Conference in San Francisco. This week, SPD Systems also announced their new super energy- efficient Health Smart SPD Windows(TM) which are insulated glass units using state-of-the-art insulating materials. These new windows, which can be controlled by remote or wall switch, offer increased safety and security and reduced solar gain by using impact-resistant, laminated SPD glass and low-E coatings. These windows also offer 99% UV protection, increased insulation and resistance to condensation, better energy efficiency and noise reduction, and better health and comfort of occupants. Additional information about Health Smart SPD windows and SPD Systems entire line of SPD-Smart products can be obtained by contacting SPD Systems or visiting their web site (http://www.spd-systems.com). SPD Systems is an authorized distributor of SPD Inc. whose parent company, Hankuk Glass Industries Inc. (KSC: 02000.KS), is Korea's largest glass manufacturer and is a licensee of Research Frontiers.
    Joseph M. Harary, President of Research Frontiers, commented: "We are pleased that these major marketing programs by our licensees and their respective distributors, which have only just commenced this week and last, have already resulted in much better-than-expected initial orders and sales. This is a strong indication that much higher sales levels will be achieved as a result of these and other similar programs, and that sales of SPD-Smart products will continue to grow and gain momentum into the third and fourth quarter of this year and beyond. Our licensees have indicated to us that customer response to these new SPD-Smart products has been excellent, and our own expanded marketing efforts in coordination with those of our various licensees has resulted in historically high levels of awareness and interest by consumers, architects, contractors, designers and project developers about SPD-Smart windows and other projects. Also, in addition to the architectural window and skylight product areas, our licensees have been working with most of the world's largest auto makers on various projects to incorporate various SPD-Smart automotive products into passenger cars, SUVs, and luxury tour buses."
    This week, a team of scientists from licensee Isoclima completed their training at Research Frontiers' facilities under their new license with Research Frontiers which permits Isoclima to make SPD emulsions and films for their own use and for sale to other licensees of Research Frontiers. Isoclima also expects to be exhibiting SPD-Smart windows at the upcoming Glasstec 2002 show being held in October in Dusseldorf, Germany.
    Research Frontiers also recently provided licensees Hitachi Chemical Company and Dainippon Ink and Chemicals with new improvements to its SPD emulsion. Both of these companies report that they have almost completed their work to produce SPD emulsions for sale to Research Frontiers' licensees, and that these improvements can be incorporated into their existing emulsion system quickly. This will enable other SPD film licensees, who have already been working with sample quantities of SPD emulsion supplied by these companies,to initiate large-scale SPD film production. Research Frontiers will be visiting both of these companies within the next few months to tour their production facilities.
    SPD-Smart windows allow users to 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 achieved automatically (using an ordinary photocell or other sensing device) or manually by simply turning a knob.

    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-Smart 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 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) and The View of the Future - Everywhere you look(TM) are trademarks of Research Frontiers Incorporated. Alter-Lite(TM) is a trademark of ThermoView Industries, Inc. Health Smart SPD Windows(TM) is a trademark of SPD Systems, Inc.