CDT AND AVI IN NEW BUSINESS COLLABORATION
CAMBRIDGE, United Kingdom, 4th March 2005
Cambridge Display Technology (CDT) (Nasdaq: OLED) and Add-Vision Inc. (AVI), a
pioneering developer of technology for low information content displays, have
announced a business collaboration in which CDT will give AVI a paid-up license to
certain CDT IP for specialised low resolution display applications. CDT will also join
the existing private equity investors in a new round of funding to allow AVI to develop
the technology more rapidly. In return for the license and equity investment, CDT will
acquire a very substantial minority position in AVI.
The Add-Vision approach, developed over the last ten years, allows simple P-OLED
displays and backlights to be fabricated by fast screen printing on plastic substrates
without the need for expensive clean room facilities. As a result, the cost of display
production can be kept lower, while maximising throughput volumes.
With the AVI tec hnology, P-OLED displays are expected to participate in some of the
point-of-purchase (POP) display market - estimated to be worth over $18billion. Other
potential applications include electronic signage, gaming machines and toys. CDT and
AVI anticipate close technical collaboration to develop the business opportunity.
Dr David Fyfe, CEO of CDT is excited about the possibilities: 'There is a strong synergy
between CDT's leading-edge P-OLED technology and the Add-Vision approach to
screen printing for low cost production of simple displays. We have taken this different
approach to licensing and equity participation because we believe this is a very promising
niche application of our technology, and one which would not be of general interest to
our licensees who focus on mainstream display products.'
For Add-Vision, Matt Wilkinson, CEO commented: 'Add-Vision is very pleased about
the new relationship with CDT. The benefits of P-OLED display technology on plastic
sub strates, at a very low cost, enables application of emissive displays in products where
this was not previously possible. With the CDT investment and paid-up license, Add-
Vision can now move to the next phase of its commercial and technical development.'
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 headquar tered in Cambridge, UK and listed on the US Nasdaq stock
exchange under the symbol 'OLED'. More information at: www.cdtltd.co.uk
About Add-Vision
Add-Vision is a pioneer in the development of low cost PLED technology for low
information content displays and backlighting applications. Founded in 1994, the
company has focussed on developing the technology for light emitting displays and their
manufacture using screen printing techniques. Since 2001, Add-Vision has concentrated
exclusively on P-OLED displays, recognizing their superior performance in viewability,
color gamut and operating requirements. Based in Scotts Valley, California, the company
has already produced some impressive sample devices at its pilot facility.
Add-Vision
Matthew C Wilkinson
President andCEO
+1 831438-8192
mattw@add-vision.com
Editorial Contacts:
CDT
Terry Nicklin
Marketing Director
+44 1954 713656
tnicklin@cdtltd.co.uk
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,' 'may,' 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 our ongoing and future research and development activities, and those of
our licensees; our ability to form and continue strategic relationships with manufacturers of PLED
materials and displays; successful commercialization of products including our PLED technology by our
licensees; the willingness of these manufacturers and licensees to continue to devel op, manufacture and sell
commercial products integrating our technology; future demand for products using our PLED technology;
the comparative advantages and disadvantages of any competing technologies; our ability to maintain and
improve our competitive position following the expiration of our fundamental patents; and our future
capital requirements and our ability to obtain additional financing when needed. Investors should not place
undue reliance on such forward-looking statements and we undertake no obligation to update any forward-
looking statements, whether as a result of new information, future events or otherwise. The information
referred to above, as well as the risks to our business described in our Prospectus filed with the Securities
and Exchange Commission on December 17, 2004, pursuant to Rule 424(b)(4) of the Securities Act of
1933, as amended, should be considered by readers when reviewing forward-looking statements contained
in this release.
