Cambridge Display Technology Awarded Additional Department of Trade and Industry Grant for Work On Organic Electronics

Project Will Play a Key Role in the Development of Flexible Displays

Cambridgeshire, UNITED KINGDOM


CAMBRIDGE, United Kingdom, July 16, 2007 (PRIME NEWSWIRE) -- Cambridge Display Technology (CDT) (Nasdaq:OLED), a pioneer in the development of polymer light emitting diode (P-OLED) technology, has announced that it has been successful in its application for a 2006 Fast Track grant to develop electronic design automation software (EDA) for use in organic TFT-based (OTFT) electronic applications. This not only marks the entry of CDT into the OTFT space but will also be important in the development of displays using OTFTs, in particular flexible displays based on plastic substrates.

The project will extend the use of EDA software to organic semiconductor (OSC) materials, and accelerate the development of low-cost fabrication techniques for organic displays on both flexible and rigid substrates. It will enable the faster development of advanced structures, devices and circuits and expand the application space for organic electronics.

The grant, for approximately $500,000 (250,000 pounds), has been awarded by the UK Department of Trade and Industry's Technology Programme to a small consortium led by CDT. Partnering with CDT is Silvaco International, one of the leading providers of technology computer aided design (TCAD) and EDA simulation software.

"This is an important stepping stone in the transition of low-cost organic electronics from the laboratory onto the shop floor," comments Dr. David Fyfe, Chief Executive Officer of CDT.

Other significant projects announced recently include the metal deposition techniques and the computational fluid dynamic (CFD) simulation. The CFD project further demonstrates that CDT is building a strong position in the fundamental expertise required for development of low cost organic and flexible P-OLED displays.

About CDT

Cambridge Display Technology is a pioneer in the development of light emitting polymers (P-OLEDs) and their use in a wide range of electronic display products used for information management, communications and entertainment. P-OLEDs are part of the family of organic light emitting diodes, or OLEDs, which are thin, lightweight and power efficient devices that emit light when an electric current flows. P-OLEDs offer an enhanced visual experience and superior performance characteristics compared with other flat panel display technologies such as liquid crystal displays, and have the key advantage that they can be applied in solution using printing processes. Founded in 1992, the company is headquartered in Cambridge, UK.

More information on CDT can be found at: www.cdtltd.co.uk

About Silvaco

Silvaco International, headquartered in Santa Clara, California, is a leading vendor of technology computer aided design (TCAD) simulation software. Founded in 1984, and a TCAD leader since 1987, Silvaco recently spun out its circuit simulation, parasitic extraction and IC CAD products as Simucad Design Automation. Silvaco will focus on TCAD development and will distribute Simucad products internationally. Simucad distributes Silvaco products in North America. Silvaco delivers its proven Stanford-based TCAD products with experienced support and engineering services to provide complete semiconductor process and device simulation solutions. Worldwide customers include leading foundries, fabless semiconductor companies, integrated semiconductor manufacturers, universities, and semiconductor designers.

More information on Silvaco can be found at: www.silvaco.com

About the Technology Programme

The Technology Programme provides funding using two of the DTI's business support products: Collaborative Research & Development and Knowledge Transfer Networks. Over the period 2005-2008, 320 million pounds in funding is being made available from DTI to businesses to support research and development in technology areas identified by the Government's Technology Strategy Board. This funding is increased by contributions from other Government Departments such as Defra (30m pounds), Regional Development Agencies and Devolved Administrations (30m pounds) and Research Councils (26m pounds).

The Programme is investing directly in new and emerging technologies and has been designed to help businesses work collaboratively with each other or with academic partners to develop technologies that will underpin products and services of the future.

In November 2006, DTI announced that, building on its success to date, the Technology Strategy Board would in 2007 become an Executive Non Departmental Public Body taking over responsibility for the delivery of the Technology Programme.

Since 2004, the Technology Programme has supported over 600 projects across 40 technology areas with a combined business and Government investment worth over 900m pounds. 22 Knowledge Transfer Networks (KTNs) have also been established with funding of around 40m pounds over 3 years.

For further information: http://www.dti.gov.uk/innovation/technologystrategy.

Statements contained in this press release that are not historical facts are "forward-looking statements" and their presence may be indicated by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will" and "may," as well as the negative thereof and similar expressions. There can be no assurance that future developments affecting Cambridge Display Technology, Inc. and its subsidiaries will be those anticipated by management. Among the factors, risks and uncertainties that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements are the following: the outcomes of the Company's ongoing and future research and development activities, as well as those of its licensees; the Company's ability to form and continue strategic relationships with manufacturers of P-OLED materials and displays; the successful commercialization of products that include the Company's P-OLED technology by its licensees; the willingness of the Company's manufacturers and licensees to continue to develop, manufacture and sell commercial products integrating the Company's technology; the future demand for products using the Company's P-OLED technology; the comparative advantages and disadvantages of any competing technologies; the Company's ability to maintain and improve its competitive position following the expiration of its fundamental patents; the adequacy of protections afforded to the Company by the patents that it owns or licenses and the cost to the Company of enforcing these patents; the Company's ability to obtain, expand and maintain patent protection in the future and to protect its unpatentable intellectual property; and the Company's future capital requirements and its ability to obtain additional financing when needed. Readers should also consider the additional factors described under the caption "Risk Factors" in the Company's 10-K and 10-Q reports filed with the SEC. Investors should not place undue reliance on such forward-looking statements and the Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.



        

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