Cambridge Display Technology (CDT) today announces that it has appointed Merrill Lynch International to assist it to pursue strategic funding/partnerships aimed at expanding CDT’s technology development capabilities and enhance its leadership position in the application of light emitting polymers (“LEP”) in the display and lighting industries.

CDT:

• Is a leader in the research, development and commercialisation of LEP;
• Is the holder of the fundamental patents over the IP required to manufacture and ship LEP display devices;
• Expects the opportunity for LEP technology to be significant, with potential applications in attractive markets ranging from consumer electronics, mobile communications, computing and industrial applications to televisions;
• Exploits LEP technology through licensing and technology transfer, coupled with corporate partnerships, joint ventures and development projects and device manufacturing;
• Has established a global network of leading development partners at all stages of the flat panel display industry value chain;
• Currently has licensing agreements with Dai Nippon Printing, Delta Electronics, DuPont, Osram, Philips, Seiko Epson, and Microemissive Displays for display manufacture and with STMicroelectronics, Dow, Sumitomo Chemical, Covion and Bayer for semiconductors and materials development, and further agreements under negotiation; and
• Shareholders include Kelso & Company, Hillman Capital, DuPont, Toppan Printing and Sumitomo Chemical.

CDT is seeking a partnership with one or two leaders in the global display industry who will have the capabilities to assist CDT to further capitalise on its success in the commercialisation of LEP technology.

We would also draw your attention to the press release dated 3 July 2003 announcing a restructuring of CDT with the objective of enhancing organisational effectiveness and bringing increased focus to the development of high efficiency materials at the same time as reducing cost.

David Fyfe, Chief Executive Officer of CDT, said today:

"CDT is a world leader in the development of light emitting polymers.  The company has successfully licensed its technology to a number of leading players in the global display industry to date. An increase in technical resources has resulted in very rapid advance of the technology over the past two years.  In order to maintain and accelerate this very rapid pace of development of LEP technology and thereby its commercialisation, CDT is seeking a closer relationship with one or two industry leaders. "