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Technology Stocks : Research Frontiers (REFR) -- Ignore unavailable to you. Want to Upgrade?

To: N. Dixon who wrote (852)	8/13/1998 4:27:00 PM
From: Harry_Behemoth	Read Replies (1) \| Respond to of 50032

Thursday August 13, 4:01 pm Eastern Time Company Press Release Research Frontiers Repurchases Its Shares WOODBURY, N.Y.--(BUSINESS WIRE)--Aug. 13, 1998--Research Frontiers Incorporated (Nasdaq: REFR - news) announced today that it has been repurchasing its own shares. Because the Company is in strong financial condition and considers its prospects favorable for the remainder of 1998 and beyond, and because the market price of its shares has declined to a level that the Company deems attractive for investment, the Company has been repurchasing its own shares. The shares repurchased will be retired by the Company and subtracted from the number of shares issued and outstanding as reported in the Company's periodic filings with the Securities and Exchange Commission. Future purchases made by the Company will depend upon market conditions and other factors. The Company stated that one of its licensees has already publicly announced its intention to commercialize soon the Company's suspended particle device (''SPD'') variable light transmission technology. The Company also believes that the markets for SPD products are likely to be extremely large, and that successful introduction of one type of SPD product such as ''smart'' windows or eyewear will probably increase interest in other SPD products as well. The Company anticipates that pre-commercial tests of its SPD light-controlling films by one or more of its licensees will commence within the next several months. Research Frontiers is a technological leader in the development and licensing of suspended particle devices--electrically operated light control devices using proprietary particle suspensions. SPD technology permits light transmission to be electrically controlled instantly either automatically or by the user. Devices which can use SPD technology include variable light transmission ''smart'' windows, variable light transmission goggles and other types of eyewear, self-dimmable automotive sun roofs, sun visors and rear-view mirrors, and flat panel information displays for use in computers, television, telephones and other electronic instruments. Research Frontiers currently has agreements in effect covering smart windows, automotive mirrors and sun visors, eyewear, displays and other products with major international corporations and holds over 100 patents and patent applications on SPD technology throughout the world. Additional information about Research Frontiers can be found on the Internet at refr-spd.com. Note: From time to time the Company may issue forward looking statements which involve risks and uncertainties. This statement may contain 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 any forward looking statements should be considered accordingly. Editor's Note: For additional information on Research Frontiers, including its SPD technology and key executive staff, please contact Stacy Calder at Technology Solutions at 212-696-2000 ext. 317 (scalder@tsipr.com). -------------------------------------------------------------------------------- Contact: Research Frontiers Incorporated, Woodbury Robert L. Saxe, President Patricia A. Bryant, Manager of Investor Relations (516) 364-1902 info@refr-spd.com or TSI for Research Frontiers Stacy Calder (212) 696-2000 ext. 317 scalder@tsipr.com --------------------------------------------------------------------------------