CDT Licensee MicroEmissive Displays to Begin Initial Production of P-OLED Based Headset Display in July

MED Reports $10.5 Million in Backlog Orders and High Design-in Activity

Cambridgeshire, UNITED KINGDOM


CAMBRIDGE, United Kingdom, May 2, 2007 (PRIME NEWSWIRE) -- Cambridge Display Technology (CDT) (Nasdaq:OLED) today announced that its licensee, MicroEmissive Displays (MED), has completed construction of its volume manufacturing facility for P-OLED based microdisplays in Dresden and that the company will begin initial production of its new P-OLED based plug-and-play 24-bit wearable color headset display, codenamed "Telford" in July. In February, MED showcased a working prototype of the product using a Qualcomm MDDI interface at the 3GSM 2007 Conference.

The new MED facility is expected to begin volume shipping of the Telford displays in July 2007. Total capacity of the new facility is 10 million units annually.

"We're excited to see one of our long-time licensees, MED, move forward to high volume commercial production with their excellent low-power consumption Telford display product," said David Fyfe, chief executive officer of CDT. "With a reported $10.5 million in backorders for this product alone and strong design-in activity from key consumer electronics companies, it is clear that the market potential for P-OLED displays -- which offer a superior viewing experience with significantly lower power consumption than comparable LCD displays -- is significant and growing."

About CDT

Cambridge Display Technology is a pioneer in the development of polymer organic light emitting diodes (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 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 and listed on the U.S. NASDAQ Global Market under the symbol 'OLED'. In 2005, CDT and Sumitomo Chemical established a joint venture called Sumation(r) which develops, manufactures and sells P-OLED materials to the display industry. More information on CDT can be found at: www.cdtltd.co.uk



        

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