WOODBURY, N.Y., April 29, 1996 -- Research Frontiers Incorporated announced today that it has signed an expanded new license agreement with Glaverbel, S.A. relating to Research Frontiers' suspended particle device ("SPD") technology for controllable light transmission. The new agreement, which replaces a previous agreement between the companies, changes Glaverbel's rights from exclusive to nonexclusive for automotive sun visor and rear-view mirror products and grants Glaverbel new nonexclusive rights to manufacture and sell variable light transmission windows for architectural and automotive applications throughout most of the world. Glaverbel will pay Research Frontiers an annual minimum royalty as well as an earned royalty of 5% of the net selling price of products sold under the agreement. Glaverbel has also agreed to give the Company other valuable consideration, details of which were not disclosed.

Research Frontiers stated that because of the nonexclusivity of the new agreement, the Company is now in the advantageous position of being able to consummate unlimited additional license agreements covering windows, rear-view mirrors and sun visors.

The Company indicated it will initiate action this year to bring SPD products more rapidly toward commercialization by investigating the feasibility of forming joint ventures with other companies including automotive suppliers to expedite product development.

The new agreement will also be beneficial for Glaverbel, because of its broader product scope, and because Glaverbel will have the right to buy important SPD film material from other Research Frontiers licensees.

Research Frontiers is a technological leader in the development and licensing of suspended particle devices -- electrically operated light control devices using proprietary particle suspensions. The Company currently has agreements in effect covering the manufacture of SPD film and smart windows, automotive mirrors and sun visors, and displays, with major international corporations, and will receive royalties on the sale of products which use its proprietary SPD technology.

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COMPANY CONTACTS:
Robert L. Saxe, President
Patricia A. Bryant, Manager of Investor Relations
(516) 364-1902