Business Editors

WOODBURY, N.Y. & COURBEVOIE, France--(BUSINESS WIRE)--June 25, 2003

Saint-Gobain Glass France SA, a subsidiary of Europe's largest glass company, Compagnie de Saint-Gobain (Paris Stock Exchange:SGOB.PA) has been granted a worldwide (except Korea) non-exclusive license by Research Frontiers Incorporated (Nasdaq: REFR) to make various SPD-Smart(TM) glass products.

In an SPD-Smart window, sunroof, or other product, the user can manually or automatically "tune" the amount of light, glare and heat coming into a home, office, or vehicle. SPD-Smart film technology was recently awarded a Best of What's New Award from Popular Science magazine for home technology. Additional information about SPD-Smart windows and other products can be found at www.SmartGlass.com. About SPD Technology and Research Frontiers Incorporated

Research Frontiers Incorporated (RFI) develops and licenses suspended particle device (SPD) technology used in SPD-Smart(TM) light-control glass and plastic products. SPD technology, made possible by a flexible light-control film invented by RFI, allows the user to instantly and precisely control the shading of glass/plastic manually or automatically. SPD technology has numerous product applications, including: SPD-Smart(TM) windows, sunshades, skylights and interior partitions for homes and buildings; automotive windows, sunroofs, sun-visors, sunshades, rear-view mirrors, instrument panels and navigation systems; aircraft windows; eyewear products; and flat panel displays for electronic products. SPD technology is covered by approximately 365 patents and patent applications held by RFI worldwide. Currently 26 companies are licensed to use RFI's patented SPD light-control technology in emulsions, film, or end products. Additional information about RFI and its licensees can be found at http://www.SmartGlass.com.Note: From time to time Research Frontiers Incorporated may issue forward-looking statements which involve risks and uncertainties. This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. SPD-Smart(TM), Powered by SPD(TM), The View of the Future - Everywhere You Look(TM) and Visit SmartGlass.com - to change your view of the world(TM) are trademarks of Research Frontiers Incorporated.