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<DESCRIPTION>RESEARCH FRONTIERS PRESS RELEASE DATED FEBRUARY 14, 2007
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GROUP INVESTS $6.65 MILLION IN RESEARCH FRONTIERS

Woodbury, New York - February 14, 2007. A group of accredited
investors have invested $6,650,500 in Research Frontiers Incorporated
(Nasdaq: REFR), the developer and licensor of SPD-Smart(TM) light-control
film technology. The investors received 682,102 shares of Research
Frontiers common stock at a price of $9.75 per share. These securities
were sold pursuant to Research Frontiers' effective shelf-registration
statement filed with the SEC.

The proceeds will be used by Research Frontiers to expand its operations,
including increased marketing of its state-of-the-art SPD light-control
film technology and products using SPD technology, and for working capital
and general corporate purposes.

"Over the last six months, Research Frontiers has been able to strengthen
its financial condition and resources in preparation for the new phase
which has now arrived in the SPD industry," noted Joseph M. Harary,
President of Research Frontiers. "Less than two weeks ago, our licensees
Hitachi Chemical Company and Innovative Glass Corp. jointly announced
that Hitachi Chemical was shipping wide SPD-Smart light-control film
from Hitachi's newest coating line in Japan. Last week, Raytheon announced
that it was offering SPD-Smart window shades for its Beechcraft(r) King Air
aircraft. These SPD-Smart cabin windows are manufactured by our licensee
InspecTech Aero Service. These milestone events for the SPD industry have
created great opportunities for Research Frontiers and its licensees around
the world. The financing raised will permit Research Frontiers to more
aggressively pursue these opportunities, and continue to build value in
our business and that of our licensees."

Mr. Harary noted that several of the investors had invested in the Company's
two previous rounds of financing in August and October, other participants
were known to the Company for over a dozen years, and that the lead investor
became known to Research Frontiers several years ago after acquiring its
initial position in Research Frontiers in the open market. After recent
developments had been announced, these investors increased their investment.
"We are pleased with the continued confidence that our investors, and our
shareholders in general, have shown to help us and our licensees achieve
their recent success in production and in the marketplace. The added
resources from this investment will enable Research Frontiers to continue
to succeed in bringing the benefits of these innovative light-control
products to the marketplace."

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(TM) 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
substantially reduce 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 (Nasdaq: REFR) develops and licenses suspended
particle device (SPD) technology used in VaryFast SPD-Smart controllable 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 product applications include: SPD-Smart windows, sunshades,
skylights and interior partitions for homes and buildings; automotive windows,
sunroofs, sunvisors, sunshades, and mirrors; aircraft and marine windows and
window shades;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 recognized as one of
the top technologies by the Society of Automotive Engineers' Aerospace
Engineering magazine. SPD technology is covered by approximately 450 patents
and patent applications held by RFI worldwide. Currently 34 companies are
licensed to use Research Frontiers' patented SPD light-control technology in
emulsions, films, 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,
SPD-SmartGlassTM, SmartGlassTM, VaryFastTM, Powered by SPDTM,
The View of the Future - Everywhere You LookTM and
Visit SmartGlass.com - to change your view of the worldTM
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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