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<DESCRIPTION>RESEARCH FRONTIERS PRESS RELEASE DATED FEBRUARY 14, 2005
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                 FOUR FUNDS INVEST $5 MILLION
                     IN RESEARCH FRONTIERS

Woodbury, New York   February 14, 2005.  Four U.S.-based
funds have invested $5 million in Research Frontiers Incorporated
(Nasdaq: REFR), the developer and licensor of  SPD-Smart
light-control film technology. The funds have purchased one
million shares of Research Frontiers common stock for $5 million,
and will also receive five-year warrants to purchase 200,000 shares
of common stock at an exercise price of $7.50 per share. These
securities were sold pursuant to Research Frontiers' effective shelf-
registration statement filed with the SEC, and the proceeds will be
used by Research Frontiers to fund the development of its next-
generation SPD light-control film technology, and for working
capital and general corporate purposes.

"This funding will help us continue to improve the performance of
SPD technology, and to help our 34 licensees across the world roll
out SPD chemical, film and end-products," noted Joseph M.
Harary, President of Research Frontiers. "We are particularly
pleased to be able to undertake a financing with this caliber of
institutional investors.  It underscores the evolution of our
business, and the SPD industry that is rapidly developing around
the world."

SPD film has wide applicability in a variety of SPD-Smart
products including architectural, automotive, aircraft and marine
windows, as well as in instantly adjustable variable tint eyewear
such as sunglasses or ski goggles. In a window, sunroof, or other
product using VaryFast  SPD-Smart  technology, the user can
manually or automatically "tune" the amount of light, glare and
heat coming into a home, office, aircraft, train or other vehicle.
SPD-Smart windows, which can reduce energy consumption, also
block over 99% of harmful ultraviolet (UV) radiation to protect
occupants and prevent the fading of carpets, furniture, and artwork.
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 develops and licenses suspended
particle device (SPD) technology used in VaryFast  SPD-
Smart  light-control glass and plastic products. SPD technology,
made possible by a flexible light-control film invented by Research
Frontiers, allows the user to instantly and precisely control the
shading of glass or plastic, either manually or automatically. SPD
technology has numerous product applications, including: SPD-
Smart  windows, sunshades, skylights and interior partitions for
homes and buildings; automotive windows, sunroofs, sunvisors,
sunshades, rear-view mirrors, instrument panels and navigation
systems; aircraft windows; eyewear products; and flat panel
displays for electronic products.

SPD-Smart film technology was awarded a "Best of What's New
Award" from Popular Science magazine for home technology and
was also named by the Society of Automotive Engineers'
Aerospace Engineering magazine as one of the top new
technologies. SPD technology is covered by over 400 patents and
patent applications held by RFI worldwide. Currently 34
companies are licensed to use Research Frontiers' patented SPD
light-control technology in emulsions, film, or end products.
Information about Research Frontiers and its licensees can be
found at www.SmartGlass.com.

Note: From time to time Research Frontiers 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-SmartTM, VaryFastTM, Powered by SPDTM, The View of the
Future   Everywhere You LookTM and Visit SmartGlass.com - to
change your view of the world  are trademarks of Research
Frontiers Incorporated.

Contact:

Research Frontiers Incorporated
Joseph M. Harary, President
Patricia A. Bryant, Manager of Investor Relations
516-364-1902
info@SmartGlass.com
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