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Technology Stocks : Research Frontiers (REFR)

REFR 1.610

+3.6%

3:59 PM EST

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To: fmrick who wrote (39)	4/25/1997 7:35:00 PM
From: Michael Klausner	of 50346

Mr. Childers: Joe Harari would welcome your questions and comments via e-mail. He answered mine. Do convey them : Harary@ix.netcom.com Compared to many other companes REFR is one of the most conservative ones in terms of "hype." My experience is that they do not issue press releases until there is something of importance and substance to communicate. I understand the "impatience" of LONG TERM shareholders but understand, please, that REFR really does not have much control over the pace at which licensees will work on commercializing SPD film and products. The incentives built into the new Hankuk agreement is a first and should also stimulate other licensees to quicken their pace. Also, realize, please that while REFR is a very small company they are dealing with huge companies consisting of multiple layers of bureaucracies which are involved in the decision-making process. These companies also have manyother "irons in the fire", unlike REFR. Hope this helps...do contact Mr. Harari or Pat Bryant. MK

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