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<DESCRIPTION>RESEARCH FRONTIERS PRESS RELEASE DATED AUGUST 3, 2009
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   GROUP INVESTS $2.85 MILLION IN RESEARCH FRONTIERS

Woodbury, New York   August 3, 2009. A group of accredited
investors has invested  $2.85 million in Research Frontiers Inc.
(Nasdaq: REFR), the developer and licensor of SPD-Smart(tm)
light-control film technology. The investors received 780,831 shares
of Research Frontiers common stock at a price of $3.65 per share
which was the closing market price of Research Frontiers stock on
July 28, 2009, the day the transaction was priced. In addition, the
investors in this stock offering received 156,161 five-year warrants
to purchase Research Frontiers common stock at a price of $6.00
per share. These securities were sold pursuant to Research
Frontiers' effective shelf-registration statement filed with the SEC.

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

"Recent events have created exciting opportunities in the
SPD-SmartGlass industry," noted Joseph M. Harary, President and
CEO of Research Frontiers. "Governments, businesses and people
throughout the world are focusing more intensely on green building
initiatives that save energy, encourage environmental stewardship
and improve individual well-being. Several of our licensees have
recently announced expansions of their facilities and production
capacity for smart glass, launched products and increased their
marketing visibility. Less than two weeks ago, Hitachi Chemical, a
strategically important licensee of ours, launched a web site
specifically devoted to their SPD light-control film business after
their president had noted earlier that their SPD business had become
an urgent sales growth project within Hitachi Chemical with the
anticipation of its developing into one of Hitachi Chemical's new
core businesses.  Also exciting for our industry are the recently
released independent data regarding energy efficiency and other
sustainability benefits that SPD-Smart technology offers, and
licensee news regarding targeted sales levels for SPD film."

Mr. Harary noted that the new capital raised in this financing will
permit Research Frontiers to continue to support the accelerated
efforts that it and its licensees are pursuing, and initiate specific
near-term sales and marketing objectives and programs. "We know
this investor group well, and we are pleased with the confidence that
our investors continue to show to help us and our licensees bring
SPD-Smart technology to the global architectural, automotive,
aircraft and marine industries."

SPD-Smart light-control film technology transforms widely used
products   windows, skylights, curtainwalls, partitions, sunroofs and
more   into products that allow users to instantly and precisely
control the light, glare and heat entering a building or vehicle.
SPD-SmartGlass is instantly tunable to an infinite number of light
transmission states regardless of window size, and easily adapts to
individual preferences using control devices ranging from basic
dimmer switches and photosensors to those that are integrated into a
building's or vehicle's intelligent control system. These unequalled
performance characteristics help optimize energy-savings and
human comfort, and they offer many other desired benefits such as
increased security, noise reduction, protection from harmful
ultraviolet light and the potential for aesthetically distinctive
designs. Additional information about SPD technology and
SPD-Smart windows and other products can be found at
www.SmartGlass.com.

About SPD Technology and Research Frontiers Inc.

Research Frontiers Inc. (Nasdaq: REFR) develops and licenses
suspended particle device (SPD) technology used in VaryFast(tm)
SPD-Smart controllable glass and plastic products. Benefits include
dynamic control of light, glare and heat passing through many types
of glazings, noise reduction, greater security due to both privacy and
structural integrity, and the protection of interiors and occupants
from heat and harmful ultraviolet radiation. SPD technology, made
possible by a flexible light-control film invented and patented by
Research Frontiers, allows the user to instantly, precisely and
uniformly control the shading of glass or plastic, either manually or
automatically. This patented film can be used to transform into
"smart" products a variety of products used every day in homes,
buildings, cars, aircraft, boats, trains and motorcoaches.

Current product applications for SPD technology include:
SPD-Smart windows, sunshades, skylights, atria, curtainwalls and
interior partitions for homes and buildings; automotive windows,
sunroofs, roof systems, sunvisors and sunshades; and aircraft and
marine windows and window shades. Potential future applications
include: eyewear products including sunglasses, ski goggles and
motorcycle helmets, mirrors; flat panel displays for electronic
products; and light-control filters for various industrial and
consumer applications.

SPD-Smart film technology was awarded the "Best of What's New
Award" for home technology from Popular Science magazine,
received the 2007 North American Frost & Sullivan Award for
Excellence in Technology for glass, and was also recognized as one
of the top technologies by the Society of Automotive Engineers'
Aerospace Engineering magazine. SPD technology is covered by
over 500 patents and patent applications held by Research Frontiers
worldwide. Currently 35 companies are licensed to use Research
Frontiers' patented SPD light-control technology in emulsions,
films, or end-products. Further information about SPD-Smart
technology, 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. Actual
results could differ and are not guaranteed. Any forward-looking
statements should be considered accordingly. SPD-Smart(tm),
SPD-SmartGlass(tm), SmartGlass(tm), VaryFast(tm), Speed
Matters(tm), Powered by SPD(tm), SPD Clean Technology(tm),
SPD On-Board(tm), Visit SmartGlass.com - to change your view of
the world(tm) and The View of the Future - Everywhere You
Look(tm) are trademarks of Research Frontiers Inc.

For further information or to arrange a visit to the Research
Frontiers Design Center, please contact:

Research Frontiers Inc.

Gregory M. Sottile, Ph.D.-Director of Market Development

Info@SmartGlass.com
(516) 364-1902
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