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<DESCRIPTION>ASKJOE COLUMN DATED NOVEMBER 12, 2009
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                       Ask Joe


             "You want to know ask Joe."

                  November 12, 2009




A steady stream of exciting events have taken place since my
previous Ask Joe column on November 26, 2008. Because many of
these developments have already been the subject of public
announcements and industry events, the most important of which
have come from our licensees, I have waited until now to write
a new Ask Joe column. My purpose in doing so now is simple and
straightforward: I believe that the chain of events that have
occurred during the past year, and particularly during the past
six months, has been unprecedented and extraordinary. It's easy
to miss the significance of these important developments when
one considers that, also during this time, there have been major
upheavals in the world markets, including financial institutions
which have failed or needed bailing out, major corporations in
bankruptcy, and wild stock market gyrations.

As those who know me have come to expect, I like to start with
the fundamentals. Things are going well from a technical
standpoint. After helping our licensees resolve issues of low
adhesion that I spoke about in my last column, our talented R&D
team, led by our Chairman, Chief Technology Officer and Founder,
Bob Saxe, and by Steve Slovak, our Vice President of Technology,
now work closely with our production licensees and also their
customers, to continue to validate the durability of SPD-Smart
products under even extreme environmental conditions, and have
generated data for our licensees, government agencies and
consumers about the remarkable energy efficiency benefits and
functionality that SPD-Smart products offer. Our particular
focus is on the predictable production and high volumes that
we and our licensees expect to come from the automotive industry,
and I am pleased to say that the results of these efforts are
going very well.

In addition to the unprecedented pace of activities, especially
by our licensees in the business development area, I believe that
there are other strong indications that Research Frontiers has
entered the next significant phase of our company's history.
Probably the most telling change from prior years is how our
largest licensees have described their businesses based around
our SPD technology.

Our automotive glass licensee, Pittsburgh Glass Works, recently
issued a press release that reviewed milestones for their first
year as an independent company after being spun off by PPG
Industries. PGW cited their four most noteworthy accomplishments:
(1) their work with the Department of Energy, (2) their success
in working with the California Air Resources Board (CARB) to
mandate high energy-efficiency glass for automobiles sold in
California, (3) their long-term laminated glass supply contract
for Mercedes, and (4) their work with SPD technology.

Our licensee Pilkington also highlighted the importance of their
work with SPD technology on the occasion of their acquiring a
license from Research Frontiers to cover SPD-Smart automotive glass.
Anthony R. Shaw, Vice President Technology - Automotive for
Pilkington noted in September:

"Our SPD teams in the UK, Germany, Japan and the US have been
working closely and intensely with Research Frontiers and our
lead OEM customer to introduce SPD-Smart end-products to the
global automotive market. SPD technology is a high-performing
technology that offers many distinctive performance, safety,
comfort and energy-saving benefits desired by OEMs and their
customers. We see exciting opportunities ahead in the very
near future."

Having recently experienced firsthand in Europe the work that
Pilkington has done in the automotive glass industry for one of
their customers, and having seen the production work that their
parent company, Nippon Sheet Glass, has done in Japan just a few
weeks ago when I visited NSG's factory there, I can also personally
say that we too see exciting opportunities ahead in the automotive
industry.

Enabling much of this activity is the hard work, dedication, and
substantial resources that our film-making licensee, Hitachi Chemical,
has devoted to their business unit devoted to our SPD-Smart technology.
Public statements made for the first time about their SPD film division
by Mr. Kazuyuki Tanaka, Hitachi Chemical's new president, show Hitachi
Chemical's confidence, and demonstrate how strategically important
SPD-Smart technology is to Hitachi's future and their commitment to it.
In his presentation to securities analysts about Hitachi Chemical's
most recently completed fiscal year, Mr. Tanaka highlighted Hitachi
Chemical's desire to establish next-generation core businesses to
supplement and replace their existing core businesses. Part of this
effort was a company-wide initiative to begin what Hitachi has
designated as "Urgent Sales Growth Projects." We are pleased to report
that SPD light-control film technology is one of the two Urgent Sales
Growth Projects highlighted in Mr. Tanaka's presentation, putting it
on a path to potentially become one of Hitachi Chemical's future
core businesses.

These statements by Hitachi were followed in July by (1) the launch of
Hitachi Chemical's new web site devoted to SPD-Smart technology, and
(2) Hitachi Chemical's projections contained in an article about their
SPD film sales reaching 5 billion yen (approximately $53.4 million)
in 2012.

As they say, actions speak louder than words. With the technical
challenges behind them, Hitachi's production team in Japan routinely
produces high quality SPD-Smart light control film for our end-product
licensees around the world. Equally important in my opinion is that their
sales teams in Japan, the U.S. and Europe are coordinating with Research
Frontiers and our end-product licensees to support various sales and
marketing initiatives in each of these areas. In late October, I toured
Hitachi Chemical's newest production facilities in Japan for SPD-Smart
film. This newly built, state-of-the-art and highly automated facility
devoted to SPD film production reinforces in my mind Hitachi Chemical's
commitment to efficiently producing the highest quality and best performing
light-control technology in the world. The capital investment that they have
made also gives Hitachi Chemical the high production capacity currently
available to supply the emerging global markets for SPD-Smart film.

Our licensee Innovative Glass Corp. announced in February 2009 the completion
of the world's largest commercial project using next-generation SPD-Smart
film produced by production coaters at Hitachi Chemical. This SPD-SmartGlass
project at Indiana University was implemented in two phases. The first phase
consisted of the installation of 59 interior panels that were used in the
Legacy boardroom, classrooms and lecture hall. After the first interior phase
was complete, the second phase was implemented, and nine large exterior panels
were fabricated into high performance one-inch insulated glass units. This
gave the glass exceptional characteristics, with a wide, variable and dynamic
light transmission range, as well as significant sound-attenuating properties.
This project was a milestone in that it not only successfully concluded the
beta test phase of use of SPD-Smart glass in the commercial architectural
smart glass market, but also paved the way for additional SPD-SmartGlass
projects by Innovative Glass. These successes also garnered very favorable
media and industry attention including a program by the Discovery Channel
on building the skyscraper of the future. This episode of Mega Engineering
aired in late September and devoted an entire segment of the program to the
strategic importance of using smart glass to make smarter and more functional
buildings that can save substantial energy costs both in terms of lower
heating and air conditioning costs, and with reduced energy used for
illumination due to the benefits of daylight harvesting. Backing up this
energy savings data were two seminal presentations made at our annual meeting
in June providing data demonstrating the energy-saving characteristics of
SPD-Smart windows, with resulting solar heat gain coefficients (the main
indicator of transmission of solar heat through windows) possible that are
better than the published performance characteristics of any other window
that we could find - smart or otherwise. Add to these remarkable solar
heat gain results, the estimated additional $20-35 billion in annual cost
savings in the U.S. alone that can come from daylight harvesting, and it
becomes clear that SPD-Smart windows should play a very significant role
in the growing green building movement. Since its release in June, this
data has attracted the attention of various government agencies as well
as innovative architects, design professionals, and facilities managers.

Also active is our licensee Smart Glass International which has won
industry and design awards for their SPD-Smart product line. Originally
licensed for architectural SPD-SmartGlass applications the UK and Ireland,
SGI expanded their license in June to cover all areas of the world outside
of North America. As part of this business expansion regarding SPD
architectural products, SGI also granted the SCHOTT Group rights to sell
SGI's SPD-SmartGlass products in all areas of the world outside of the UK
and Ireland (which is currently handled directly by SGI) and North America.
SCHOTT has distribution and sales offices in 125 countries, so this
partnership between SGI and SCHOTT regarding SPD-Smart products can
significantly extend the reach and local presence of SPD-Smart products
across the world.

It has always been our goal to have multiple sources of SPD-Smart film.
Over the past year or so, SPD-Smart film produced in Italy by our licensee
Isoclima using emulsion produced in Japan by our licensee DIC Corporation
(formerly known as Dainippon Ink and Chemicals) has appeared at various
trade shows including the Vitrum Glass Show in Milan and Glasstec in
Dusseldorf, which is the world's largest show for the glass industry.
In September, I visited and was impressed with the production capacity
at Isoclima's film manufacturing facility in Italy, and reviewed some of
the recent improvements that they had made in the production and performance
of SPD film. We expect additional SPD film production capacity to be added
as early as next year.

Thanks to the availability of high-quality SPD-Smart film, even our newer
licensees such as GKN Aerospace have been able to hit the ground running.
GKN has exhibited SPD-Smart armored glass for vehicles at several major
industry security conferences including the FPED in Virginia in May, the
DSEI in London in September, and the AUSA in Washington, DC in October.
GKN recently announced that they were awarded a $425,000 U.S. Department
of Defense contract for SPD-Smart bullet-resistant windows.

Earlier this month, our licensee, American Glass Products (AGP), partnered
with Elite Auto Tune, a leading U.S. distributor of exclusive and exotic
luxury automotive products at the 2009 SEMA International Show in Las Vegas.
A Mercedes S550 exhibited by AGP/Elite at SEMA had its rear side windows
made with AGP's Vario Plus Sky brand of aftermarket smart glass using SPD
light-control technology. Our licensee, SPD Control Systems Corp., developed
and supplied the dynamic controller for these Vario Plus Sky SPD-Smart windows.

In October, our aircraft licensee InspecTech exhibited SPD-Smart products at
the NBAA show in Orlando. This show is one of the major shows devoted to
private aircraft. On the first day of the show InspecTech announced the
Smart Cabin Auto Dimming System (SCADS) for use with its I-Shade and
E-Shade brands of SPD-Smart aircraft cabin windows. After over a year
in development, this versatile, programmable cabin-wide control system
offers a never-before-possible level of automated control of light, glare
and heat entering aircraft cabins. We believe SCADS combined with SPD-Smart
shades will be a "game-changer" in the aircraft industry. In addition to
taking the benefits of SPD technology to a new level, SCADS is also an
enabling system capable of interfacing with other aircraft systems such
as Cabin Management Systems, In-Flight Entertainment Systems, and lighting
systems. Even within the first few weeks of its introduction, I am pleased
to say that this has already garnered much attention in the aircraft industry.

Also at the NBAA, InspecTech's I-Shade and E-Shade brands of SPD-Smart
aircraft cabin windows were exhibited in new products by Lou Martin &
Associates and MSA - two longstanding industry leaders in pleated shades
for aircraft windows. Both of these fine companies are now offering products
which combine the benefits of the SPD functionality supplied by InspecTech,
with their pleated shades.

While the NBAA focused on private aircraft, the Hamburg Air Show this past
April is the major industry show focusing on larger transport category aircraft.
Various SPD-equipped installations in aircraft (both fixed wing and helicopters)
were shown at InspecTech's booth in Hamburg. A steady flow of visitors were able
to instantly operate InspecTech's I-Shade SPD-Smart cabin shade and learn of its
many benefits, and the media even wrote about the SPD-Smart cabin windows being
used by Qantas Airlines on their new A380s delivered to them by Airbus. Another
respected aircraft industry blog wrote about the dramatic switching speed
advantage that SPD-Smart technology has over electrochromics (2-3 seconds for
SPD vs. 100 seconds for electrochromics).

Apart from our licensees, other industry professionals and thought leaders
have included SPD technology in their presentations at industry conferences.
These include the internationally known expert on smart windows, Carl M.Lampert,
Ph.D., and George Elvin, Ph.D., Director of the Green Technology Forum, who has
independently produced a series of international lectures featuring SPD-Smart
technology.

In addition to these activities, our licensees have been actively exhibiting
SPD-Smart products at a number of other trade shows and industry conferences.
These activities, plus project completions in various areas, the launch at
our corporate headquarters of our new SPD-SmartGlass Design Center (and our
new interactive exhibit), and our exhibit at Walt Disney World's House of
Innoventions in Epcot, have all made it increasingly easier for people to
experience the benefits of SPD-SmartGlass around the world.

At our current rate of expenditures, Research Frontiers has enough cash
reserves to last it until the first quarter of 2011, not counting any
royalty income from product sales between now and then. As we indicated
in our quarterly financial statements issued last Thursday, as of
September 30, 2008, we had over $4.5 million in cash and cash equivalents.
This includes a $2.85 million investment by a group of accredited investors
 in July 2009. When one-time and non-recurring payments are excluded, our
fee income for the third quarter and for the first nine months of this year
exceeded fee income for these same periods last year. As a conservatively
run company, we have only common stock and options and warrants outstanding,
and we have been debt-free since 1986. Our expenses are very predictable,
and our capital needs are modest.

More details about all of these developments are available on our web site
and in our periodically filed reports with the SEC, and space limitations
have required me to be concise and just hit the highlights. However, I
urge all of our readers to visit our SmartGlass.com website for more details
and also sign up for our email alerts as the pace of new developments has
grown considerably recently. Also please be sure to visit our newly launched
Facebook, Twitter and Linked-In sites. Videos of SPD-Smart products are
available on Research Frontiers' new YouTube channel.

A large part of our success has come from our business partners. These 35
global companies include world-class chemical companies and now also includes
nearly all of the world's largest flat glass manufacturers. Standing on the
shoulders of these giants, we have also had the opportunity to work directly
with their major customers which include an expanding list of the world's
largest automotive and aircraft manufacturers. Our progress and success also
comes from the trust that our investors have placed in us while providing
resources so that we could focus with determination and intensity on finishing
 the development stage of SPD-Smart light control technology, and working
closely with our licensees to bring some of the most energy-efficient and
innovative design products into commercial reality. Together, we created a
supply infrastructure with global reach, and developed potentially large
markets for SPD-Smart products in the automotive, aircraft, marine and
architectural industries. With the major technical challenges resolved,
and SPD-Smart film in full production, our team of scientists now focus
on further improvements in the performance of SPD-Smart technology, and
our marketing staff, and those at our various licensees around the world,
are concentrating their efforts on generating increased sales. Through a
unified effort among Research Frontiers and our investors, licensees and
their major customers, we have developed a new and growing industry of
which we can all be proud, and one which brings many new benefits to the
world including energy efficiency, comfort, safety, protection, and
functional design. I want to take this opportunity to thank everyone for
their patience as we and our licensees worked hard to get to this stage,
and I look forward to continue to share with all of you new developments
at an accelerated pace.


Joe Harary


If you have a suggestion for a future Ask Joe column, please
email it to me at: AskJoe@SmartGlass.com. If you are an
architect, designer, or builder, or a member of the glass, plastic,
automotive, aerospace, or marine industry, you probably have
read about us or attended one of the trade shows or conferences
around the world where we or our licensees have exhibited
SPD-Smart products. I am also pleased to say that many of you,
as well as homeowners and other consumers, have made our
interactive web site, SmartGlass.com, the first place to look if
you are interested in SPD-Smart windows and other products, or
if you are trying to keep on top of the most recent developments
with Research Frontiers' state-of-the-art SPD-Smart
light-control technology.
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