CAMBRIDGE, United Kingdom, – Cambridge Display Technology (CDT), a leading worldwide provider of display technology, today announced that it will invest $25 million toward building a manufacturing facility in the UK to help drive its commercialization strategy for light emitting polymers (LEPs), an innovative technology platform with a wide range of display applications.

The announcement signals a new phase of CDT's business plan that will focus on building multiple sustainable revenue sources through the sale of products, materials, system engineering services and licensing in the Organic Light Emitting Display (OLED) market.

The OLED display market includes mobile phones, personal digital assistants, digital cameras, camcorders and eventually personal computer and consumer products. According to display research from Stanford Resources, the OLED market is expected to increase from $18 million in 2000 to more than $714 million by 2005, with additional significant growth expected between 2006 and 2010.

"The investment is a major step forward for CDT," said CDT's CEO Dr. David Fyfe. "We have spent the last five years developing the technology base to enable the commercialization of LEP displays. Several of our licensees have announced that they will launch commercial products in 2001 and this manufacturing investment by CDT will keep us at the forefront of technology development at a commercial scale."

This investment will be made in Godmanchester, some 15 miles from CDT's headquarters and R&D center in Cambridge. The manufacturing facility will be used to test and demonstrate cutting-edge technologies, which together with LEPs provide the basis for advanced displays. Increasingly, it will be deployed to make limited runs of specialized displays such as those used in avionics, both military and commercial.

CDT is also exploring options for establishing a joint venture LEP manufacturing facility with an established display manufacturer. Says Fyfe, "We have a lot to offer a manufacturer in terms of LEP displays, intellectual property and know-how." The new facility at Godmanchester would enable such a joint venture to start up quicker and more effectively, acting as a training facility for example. In the past year, following the injection of considerable capital resources by Kelso & Company and Hillman capital, both New York based, CDT has moved decisively to capitalize on its unique position as the holder of the founding patents for LEP technology. A new experienced senior management team has been assembled, technical staff has been increased from 35 to more than 100, and a new state-of-the-art technology center opened in Cambridge, UK. In partnership with Seiko Epson of Japan, CDT recently demonstrated a full color video display based on CDT's polymers and Seiko Epson's ink jet printing expertise. This display used active matrix, polysilicon driver technology, which is essential for low power consumption in high information content displays.

CDT has been granted or applied for over 90 families of patents covering both polymer composition and processing and LEP display device architecture. LEP display technology offers significant advantages over liquid crystal display (LCD) technology in enhanced clarity of image, wider viewing angles, faster image refresh rates, lighter in weight, slimmer and should be less expensive to produce. "We feel a tremendous upsurge in interest in LEPs throughout the display world, our licensees are about to launch commercial products, and the pace of technological progress in the field is amazing," said Fyfe. "Very exciting times."

About CDT
Based in Cambridge, England, CDT is leading research and commercial development of light emitting polymers (LEPs). The company holds fundamental patents in the area that are set to significantly change a wide range of consumer electronic products. CDT commercializes its technology through sales of products, materials, system engineering services, and selective licensing.