RESEARCH FRONTIERS PRESENTS
"SMART" WINDOW MARKET SURVEY RESULTS AT SPIE CONFERENCE

Paper entitled "2000 Survey of Window Manufacturers on the Subject of Switchable Glass"
presented at SPIE’s International Symposium on Optical Science and Technology

WOODBURY, NEW YORK, August 2, 2001 - Research Frontiers Incorporated (Nasdaq: REFR), the developer and licensor of suspended particle device (SPD) light-control technology, is pleased to announce that the results of its survey of U.S. window manufacturers on the subject of switchable glass were presented yesterday at the SPIE (The International Society for Optical Engineering) International Symposium on Optical Science and Technology in San Diego, California. A copy of the paper is now available on Research Frontiers’ website at http://www.refr-spd.com.

The paper entitled "2000 Survey of Window Manufacturers on the Subject of Switchable Glass," was co-authored by Michael R. LaPointe, Research Frontiers’ Director of Marketing for Architectural Windows and Displays, and Gregory M. Sottile, President of the Townsend Research Group, LLC. Mr. Sottile’s company is an independent market research firm headquartered in Connecticut. In 2000, Research Frontiers commissioned the Townsend Research Group to conduct the study, which involved in-depth interviews with 50 U.S. window manufacturing firms. This study is believed to be the first comprehensive study of its kind on the topic of smart windows. According to Michael LaPointe, "The SPIE presentation represented an excellent venue for Research Frontiers to shed further light on the attitudes toward smart windows from a marketing perspective, and to share valuable information obtained in this study with companies interested in switchable glass technology. This study examines many issues relevant to the adoption of this technology by U.S. window manufacturers and their customers in the residential and commercial markets."

Some of the study’s major findings presented at the SPIE symposium include:

• In the residential window market, respondents expect the smart window market penetration rate to be 3.6% by 2005. This includes newly installed smart windows and windows which were already in place but retrofitted with light control technology to be made smart.
• In the commercial window market, respondents expect the smart window market penetration rate to be 6.2% in 2005. This includes newly installed smart windows and windows which were already in place but retrofitted with light control technology to be made smart.
• 51.1% of those surveyed whose companies offer products to the residential market said that companies like theirs would be interested in offering switchable glass products to this market by 2003.
• 57.0% of respondents whose companies offer products to the commercial market said that companies like theirs would be interested in offering switchable glass products to this market by 2003.
• Fully 63.4% of respondents whose companies offer products to the residential market said that a tint change that is almost instantaneous would be very important or somewhat important to residential end-users. Only 7.2% said that it would be very unimportant. 35.2% of respondents whose companies serve the commercial market felt that an instantaneous tint change would be very important or somewhat important to commercial end-users. 15.3% said it would be very unimportant."
• Window manufacturers’ primary business objectives when launching new products are to gain a competitive advantage or to expand their product line.
• While only 13.5% of those surveyed said companies like theirs would be likely to offer switchable glass products if their incremental manufacturing price were over $26 per square foot, 47.4% of those surveyed said their companies would be likely to do so if their incremental price were $11-25 per square foot.

Michael LaPointe noted: "The Townsend study indicates extraordinary potential for the smart window application of our SPD technology. SPD film, which is scheduled to become available in a few months, is expected to be priced within the $11-25 per square foot range, which opens up the mass market for window manufacturers. The study gave us valuable technical and marketing insights which will enable us to better help our end-product licensees make and market smart window products. Greg Sottile from the Townsend Research Group will be one of our keynote speakers at the SPD Smart Window Products Conference this fall." The multi-industry conference, to be held on October 24 and 25 in New York, is exclusively for companies engaged in the manufacture, distribution, promotion, or use of window-related products. It will provide companies the opportunity to evaluate the benefits of offering, distributing, or working with one or more of the categories of SPD smart window products. For information about the conference, please send email to events@refr-spd.com or call Research Frontiers at 516-364-1902, ext. 250.

About SPD Technology and Research Frontiers Incorporated

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 or having the device automatically adjust itself. This is made possible by a thin film which uses SPD light-control technology invented by Research Frontiers. SPD technology is licensed to a growing number of companies in various industries, and is covered by approximately 365 patents and patent applications held by Research Frontiers worldwide. The first products using SPD technology are scheduled to be mass produced and available later this year.

SPD technology has many applications, including "smart" windows for homes and buildings, skylights and interior partitions. A smart window 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, 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 eyewear products - sunglasses, sport goggles such as ski goggles, and visors - will continuously and instantly control glare to the degree needed. In the flat panel display industry, SPDs may be used in products such as laptop computers, cell phones, and handheld devices such as PDAs - Personal Digital Assistants, with significant performance and cost advantages over current technologies. In advertising, promotion, and retail sales environments, SPDs 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.

Research Frontiers has licensed the following companies to use its patented suspended particle device (SPD) light-control technology in emulsions, film, or end-products:

• AP Technoglass - North America’s leading automotive glass and sunroof glass supplier and a subsidiary of Asahi Glass Co., Ltd., the world’s largest automotive glass supplier;
• Dainippon Ink and Chemicals Incorporated-the world’s largest manufacturer of organic pigments;
• Film Technologies International, Inc.-a leading worldwide manufacturer of solar control, safety and security window films for use on motor vehicles, homes and commercial buildings;
• General Electric Company (NYSE: GE);
• Glaverbel, SA of Belgium-majority-owned by Asahi Glass Co., Ltd., the world’s largest automotive glass supplier;
• Global Mirror GmbH & Co. KG-the world’s largest manufacturer of commercial vehicle mirror systems;
• Hankuk Glass Industries Inc.-Asia’s largest flat glass producer (outside of Japan);
• Hitachi Chemical Co., Ltd.-majority-owned and part of Hitachi Ltd.;
• InspecTech Aero Service, Inc.- provides aerospace component design, production, marketing, and distribution to both the OEM and aftermarket industry segments including the Fortune 10 Aerospace Corporations in the U.S.;
• N.V. Bekaert S.A. - a world leader in advanced metal transformation and coating technologies, and, through its newly-acquired specialty films division, is the world’s second-largest producer of specialty window films (Belgium Stock Exchange: BERTT.BR);
• Polaroid Corporation-the worldwide leader in instant imaging and a supplier of instant photographic cameras and films; digital imaging hardware, software and media; secure identification systems; and sunglasses to markets worldwide (NYSE: PRD);
• ThermoView Industries, Inc.-a leading integrator of businesses and technologies within the replacement window industry (AMEX: THV);
• Vision Ease Lens-the world’s largest producer of polycarbonate lenses which is owned by BMC Industries, Inc. (NYSE: BMM).

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 permits light transmission to be electrically controlled instantly, either automatically (by means of a photocell or other sensing or control device) or adjusted manually by the user. Research Frontiers’ proprietary SPD technology enables users to control the amount of light passing through windows, skylights, eyewear (including prescription and non-prescription sunglasses and sports goggles), automotive sunroofs, sunvisors and rear-view mirrors, as well as enabling brighter easier to read flat panel information displays for use in computers, television, telephones and other electronic instruments and products. Research Frontiers currently has agreements in effect covering smart windows, automotive mirrors and sunvisors, eyewear, displays and other products with major international corporations and holds or has rights in over 365 patents and patent applications on SPD technology throughout the world. 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. Research Frontiers’ common stock trades on the Nasdaq National Market under the symbol "REFR." Additional information about Research Frontiers can be found on the Internet at http://www.refr-spd.com.

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.

For Immediate Release

For further information, please contact:

Research Frontiers Incorporated
Michael R. LaPointe
Director of Marketing for Architectural Windows and Displays
888-SPD-REFR ext. 215
516-364-1902
info@refr-spd.com

Media Relations:
Stacy Calder
Mindstorm Communications
212-320-2125
scalder@mindstormcomm.com